Teledyne Completes Acquisition of D.G. O'Brien, Inc.
LOS ANGELES - April 2, 2007 - Teledyne Technologies Incorporated (NYSE: TDY) announced today that its subsidiary, Teledyne Instruments, Inc., has completed the acquisition of assets of D.G. O'Brien, Inc. (DGO). DGO, headquartered in Seabrook, N.H., is a leading manufacturer of highly reliable electrical and fiber optic interconnect systems, primarily for subsea military and offshore oil and gas applications. Terms of the transaction were not disclosed.
D.G. O'Brien designs and manufactures interconnect systems that transmit signals, data and power in applications requiring extreme reliability. Today's commercial and military subsea applications demand interconnect solutions capable of withstanding greater pressure due to increased ocean depth, as well as higher temperatures from increased electrical power requirements. DGO's connectors and feedthrough systems, which utilize proprietary glass-to-metal seal technology, are well suited for such applications compared to polymer or elastomeric alternatives. DGO had sales of $26.2 million for its fiscal year ended September 2006. Teledyne will operate this business under the name Teledyne D.G. O'Brien.
Teledyne Technologies is a leading provider of sophisticated electronic components, instruments and communication products, systems engineering solutions, aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom, Mexico and Canada. For more information, visit Teledyne Technologies' website at www.teledyne.com.
Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a potential acquisition. Actual results could differ materially from these forward-looking statements. Many factors, including the Company's ability to integrate the acquired product lines and achieve anticipated synergies, could change anticipated results.
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