Teledyne Acquires KW Microwave Assets
LOS ANGELES - May 1, 2006 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Wireless, Inc., has completed the acquisition of certain assets of KW Microwave, a manufacturer of defense microwave components and subsystems. Located in Carlsbad, Calif., the business will operate as Teledyne KW Microwave.
KW Microwave designs and manufactures high performance microwave filters and integrated filter assemblies that are used in military electronic warfare, communication and navigation systems. KW has also recently developed and begun producing a line of filters for systems that are designed to counteract improvised explosive devices, which are of high concern to U.S. and allied military forces.
"KW Microwave's products and capabilities are very complementary to those of Teledyne Microwave and Teledyne's other defense electronic companies," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "Teledyne Microwave develops and manufactures custom microwave products that perform multiple functions, including amplification, switching and frequency conversion, in a single integrated module. Many of these modules require the use of increasingly sophisticated microwave filters, and the addition of KW Microwave's capabilities for specialized low-loss, compact lumped-element filters will significantly strengthen Teledyne Microwave."
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 the Company's earnings and 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.