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News

Teledyne Technologies Completes Agreement with Lockheed Martin on Joint Air-to-Surface Standoff Missile

LOS ANGELES - March 22, 2000 - Teledyne Continental Motors (TCM), a business of Teledyne Technologies Incorporated (NYSE: TDY) announced today that it has reached an agreement with Lockheed Martin Corporation to supply turbine engines for the Joint Air-to-Surface Standoff Missile (JASSM) program.

Under the agreement, TCM will supply a derivative of the J402-CA-400 small turbojet engine currently in production for the U.S. Navy Harpoon, to power the new Lockheed Martin JASSM vehicle and its derivatives. A pre-production JASSM, powered by a production J402, successfully conducted the first powered flight test at the White Sands missile range on November 20, 1999. The JASSM production requirement, which initially was projected at 2,400 units, has been increased in recent months to 3,700 units.

The agreement between the two companies follows the demonstration of an advanced family of J402 engines tailored to the JASSM vehicle. The J402-CA-100-2 engine is expected to be qualified for use on initial JASSM production lots by the middle of this year. This engine features upgrades to the Harpoon missile engine which are designed to improve engine performance. Later JASSM production lots will offer the J402-CA-100-9B engine. The (-9B) engine builds upon the lower-cost configuration of the (-2) engine and adds advanced aerodynamic components for a further improvement to engine performance.

Teledyne Continental Motors will produce the JASSM engine in a modern lean manufacturing cell currently under construction. The JASSM engine is expected to be produced in a manufacturing site with less than 20 percent of the space currently used to produce the J402 engine. Production of the new engine is expected to begin in late 2001.

"We believe that the engine program at Teledyne Continental Motors will achieve our objectives for the JASSM program," said Richard Caime, vice president of Strike Weapons Systems for Lockheed Martin Fire Control Systems. "Teledyne's commitment to advancing the J402 performance levels with new technology will serve the JASSM program well in the years to come."

"The demonstration of the advanced J402 engine, and our new agreement with Lockheed Martin, continue Teledyne's position as a premier supplier of low cost tactical missile engines for the military. We are confident that our advanced engine and our associated manufacturing excellence programs will allow us to be a strong contributor to the JASSM program for Lockheed Martin," said Robert Mehrabian, president and chief executive officer of Teledyne Technologies.

Teledyne Technologies Incorporated (www.teledyne.com) is a leading provider of sophisticated electronics and communication products, systems engineering solutions and aerospace engines and components. With 1999 revenues of $803 million, Teledyne Technologies employs approximately 5,800 persons in the United States, the United Kingdom and Mexico.

Investor Contact:
Jason VanWees
(310) 893-1642

Press Contact:
Robyn McGowan
(310) 893-1640




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