THOUSAND OAKS, Calif. - March 7, 2013 - Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., in Huntsville, Ala., has been selected as one of three contractors for NASA/Marshall Space Flight Center's (MSFC) Engineering Solutions and Prototyping (ESP) contract.
The ESP contract is an Indefinite Delivery Indefinite Quantity (IDIQ) vehicle, worth up to $350 million over five years. Under this contract, Teledyne Brown will provide NASA/Marshall Space Flight Center with space systems design and development, hardware integration and testing, and technology maturation, including bench testing and prototype development and process development, in support of flight projects, human and robotic exploration, science and technology development and future programs/projects.
“The Marshall Space Flight Center is a centerpiece of NASA's engineering capabilities, and is critical to America's future in space," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne. “This selection is a reflection of Teledyne's exceptional capabilities and performance in space engineered systems. We are honored to be a part of NASA/Marshall's exciting future through collaborative work under ESP."
For over 50 years, Teledyne Brown Engineering has been in the business of developing and building space systems. Under ESP, Teledyne has assembled an array of solution providers capable of meeting NASA's project life cycle needs. This experienced team of partners, with a breadth and depth of deep technical skills provided by large businesses and niches filled by small businesses in all specified categories, will help satisfy the demands of the ESP contract. Additionally, Teledyne's outstanding hardware manufacturing facilities in close proximity to MSFC will enable quick response time with solutions that are technically and fiscally sound.
“Whether in human exploration, scientific research, or propulsion, all of MSFC's key NASA roles will be furthered through work in ESP for many years to come," said Rex Geveden, president of Teledyne Brown Engineering. “We are pleased to now build on our more than 50 years of engineering performance history with NASA/Marshall through this new ESP contract."
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 Mexico. 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 contract award. Actual results could differ materially from these forward-looking statements. Many factors could change anticipated results, including funding, continuation and award of government programs, as well as cuts to government spending resulting from future deficit reduction measures. Various risks, including risks associated with government contracts, are identified in Teledyne's 2012 Annual Report on Form 10-K.
Investor Contact: Jason VanWees (805) 373-4542
Press Contact: Robyn E. McGowan (805) 373-4540
