Teledyne Receives $92M Follow-On Gas Centrifuge Service Modules Order
THOUSAND OAKS, Calif. – May 28, 2008 – Teledyne Technologies Incorporated (NYSE: TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., in Huntsville, Ala., has received a $92 million follow-on order from USEC Inc. (NYSE: USU) to manufacture and deliver 540 gas centrifuge service modules. Teledyne Brown expects to deliver the service modules through early 2011.
Teledyne Brown has opened a new manufacturing facility in Huntsville to handle the order and expects to add nearly 200 new jobs. The new facility triples Teledyne Brown’s manufacturing capabilities.
“This contract results from Teledyne Brown’s capabilities and reputation as a supplier of nuclear quality hardware,” said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies.
The order is in addition to the previously announced $19.4 million contract from USEC Inc., to manufacture an initial complement of 36 service modules. The modules are a key component of USEC’s new gas centrifuge uranium enrichment plant which will supply fuel for commercial nuclear power plants. Fluor is responsible for the engineering, procurement and construction management of USEC’s American Centrifuge Plant in Piketon, Ohio.
Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies’ operations are primarily located in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies’ website at www.teledyne.com
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