Teledyne to Acquire Judson Technologies, LLC
Investor Contact:
Jason VanWees
(805) 373-4542
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Press Contact:
Robyn McGowan
(805) 373-4540
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THOUSAND OAKS, California-- December 24, 2007 -- Teledyne Technologies Incorporated (NYSE:TDY) announced today
that its subsidiary, Teledyne Scientific & Imaging, LLC, has entered
into an agreement to acquire assets of Judson Technologies, LLC
("Judson"). Judson, headquartered in Montgomeryville, Pa., is a
leading designer and manufacturer of high performance infrared detectors
and accessory products. Terms of the transaction were not disclosed. The
closing of the transaction, which is subject to various conditions, is
anticipated to occur on February 1, 2008.
Judson manufactures high performance infrared
detectors utilizing a wide variety of materials such as Mercury Cadmium
Telluride (HgCdTe), Indium Antimonide (InSb), and Indium Gallium Arsenide
(InGaAs), as well as tactical dewar and cooler assemblies and other
specialized standard products for military, space, industrial and
scientific applications. Judson had sales of $13.8 million for its fiscal
year ended December 31, 2006. After the closing, the acquired business will
operate under the name Teledyne Judson Technologies.
"With the acquisition of Judson, Teledyne
will be able to provide a substantially wider range of visible and infrared
detectors, integrated subsystems and camera products," said Robert
Mehrabian, chairman, president and chief executive officer of Teledyne. "Judson's
capabilities in detector packaging and the production of dewar and cooler
assemblies are highly complementary to Teledyne Scientific & Imaging's
strength in advanced detector materials and the design of large format
focal plane arrays and imaging electronics."
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.
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 potential acquisition. Actual results could differ
materially from these forward-looking statements. Many factors, including
the Company's ability to integrate the acquired product lines, retain
customers and achieve anticipated synergies, could change anticipated
results.
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