THOUSAND OAKS, Calif. – September 20, 2011 – Teledyne Technologies Incorporated (NYSE: TDY) today announced that its Teledyne Oil & Gas group was awarded a development contract from Cameron do Brasil Ltda, a subsidiary of Cameron International Corporation (NYSE: CAM), to design and deliver a subsea high-power electrical interconnect system for a deepwater oil field in Brazil. Working in partnership with Cameron in Brazil, Teledyne Oil & Gas continues its leading-edge high-power interconnect development efforts.
The award from Cameron is for a development phase, followed by deliverable hardware prototypes to be installed in 2013, for a subsea system that will supply power to an electrical submersible pump to increase oil production. It is the largest Teledyne Oil & Gas development contract to date and complements other high-power interconnect technology developed for other major operators in the Gulf of Mexico.
“Teledyne was selected over an incumbent supplier as a result of the high-power design expertise of Teledyne Oil & Gas in Daytona Beach, Fla. and the advanced materials and analysis expertise at Teledyne Scientific in Thousand Oaks, Calif.,” said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies. “The partnership between Teledyne Oil & Gas and Teledyne Scientific continues to differentiate Teledyne in the market place and demonstrates Teledyne’s strategy of integrating our technologies across the company.”
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.
Investor Contact: Jason VanWees (805) 373-4542
Press Contact: Robyn E. McGowan (805) 373-4540
