Teledyne Awarded $13.7 Million U.S. Army Contract to Continue Hazardous Waste Disposal
LOS ANGELES - January 26, 2004 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Brown Engineering, Inc. has been awarded a $13.7 million environmental contract from the U.S. Army to continue its operation of the U.S Army Non Stockpile Chemical Materiel Program's Rapid Response System (RRS), a mobile, on-site system used to destroy hazardous chemicals. The contract has a potential value of $20 million if all options are exercised.
The RRS, which has been successfully operated by Teledyne Brown for the past eight years in Utah and Alaska, under this new contract, will be used to destroy Chemical Agent Identification Sets (CAIS) in Pine Bluff, Arkansas. CAIS were developed by the Army 70 years ago to train soldiers in chemical warfare agent identification. The Army is now destroying these obsolete training sets at various locations across the United States.
"We look forward to continuing our work with the Army and helping them achieve their goals for safe and timely disposal of hazardous chemicals," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "We have assembled a team of highly trained personnel who are uniquely capable of performing these tasks. It is a credit to our team that we have been accident free since our work began."
The RRS can also be deployed anywhere around the world to handle emergency CAIS recovery.
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.