THOUSAND OAKS, Calif. – June 5, 2015 – Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has acquired Industrial Control Machines SA (“ICM") through a Netherlands-based subsidiary. Based in Liège, Belgium, ICM is a leading supplier of portable X-ray generators for non-destructive testing applications, as well as complete X-ray imaging systems for on-site security screening.
Founded in 1993, ICM designs and manufactures lightweight X-ray sources for the inspection of materials and structures, ranging from light alloy aviation parts to thick steel pipelines, in the harshest and most extreme environments. In addition, ICM's mobile X-ray inspection systems are provided to government, security and explosive ordnance disposal personnel for the analysis of suspicious objects or cargo.
“ICM's unique X-ray sources and mobile security systems are complementary with Teledyne's existing highly sensitive CMOS-based X-ray detectors," said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “Furthermore, the acquisition of ICM accelerates Teledyne's efforts to provide a full family of specialized X-ray products serving industrial, security and scientific markets."
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies' operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. 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 recent acquisition and product releases. Actual results could differ materially from these forward-looking statements. Many factors, including the ability of Teledyne to achieve anticipated synergies, as well as market and economic conditions, could change anticipated results. There are additional risks associated with operating businesses internationally, including those arising from United States and foreign government policy and regulatory changes or actions and exchange rate fluctuations.
Investor Contact: Jason VanWees (805) 373-4542