Teledyne Receives Extension to U. S. Army Non-Stockpile Contract
LOS ANGELES - June 6, 2006 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Brown Engineering, Inc. has received a five-year extension to its ID/IQ contract with the U.S. Army's Non-Stockpile Chemical Materiel Project.
Teledyne Brown Engineering has worked with the Project Manager for Non Stockpile Chemical Materiel on 25 separate tasks for two ID/IQ contracts. During this 10-year period, the company provided project management, engineering, laboratory, air monitoring and operations support for testing, fielding and operations of mobile chemical agent demilitarization systems and other chemical agent materiel projects. Teledyne Brown Engineering was awarded over $130 million during the first ID/IQ contract that ended in Dec 2001. To date, the company has been awarded tasks totaling approximately $75 million as part of this current contract.
"This contract extension reflects the high level of confidence the Army has in Teledyne Brown's ability to effectively and safely support the destruction of chemical agents," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "Teledyne Brown looks forward to continuing to serve the Army with this initiative."
The scope of the extended contract is expected to include operation of the Rapid Response System at other facilities, program management and integration, equipment design, fabrication, construction, engineering, and supporting the disposal of non-stockpile chemical materiel at various sites.
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.
Investor Contact:
Jason VanWees
(310) 893-1642
Press Contact:
Robyn McGowan
(310) 893-1640
