Teledyne Awarded $19.4M Gas Centrifuge Service Modules Contract
Teledyne Technologies Incorporated (NYSE: TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., in Huntsville, Ala., has been awarded a $19.4 million contract to manufacture and deliver an initial complement of gas centrifuge service modules. This contract was awarded by Fluor Enterprises, Inc., acting as an agent for USEC Inc.
The service modules will be key components of an advanced gas centrifuge enrichment technology that USEC Inc. will use to enrich uranium to make fuel for commercial nuclear power plants. Fluor, a strategic supplier to USEC Inc., is the engineering, procurement and construction manager for the American Centrifuge commercial plant. The plant will be the only U.S. owned and operated enrichment plant in this country, replacing USEC’s older, more expensive gaseous diffusion technology in use today.
“Teledyne Brown is a recognized supplier to the nuclear industry,” said Robert Mehrabian, chairman, president, and chief executive officer of Teledyne Technologies. “This contract expands on Teledyne Brown’s core manufacturing capabilities in the area of nuclear quality manufactured products.”
Teledyne Brown manufactures highly specialized containers for on-site retention, transportation and storage of spent nuclear fuel. The company also maintains certifications for manufacturing nuclear pressure vessels, piping systems, and components. Additionally, Teledyne Brown specializes in radiological testing for commercial nuclear environmental compliance and atmospheric sample analysis for government programs.
Teledyne Brown Engineering anticipates delivery of the service modules in the fall of 2008.
Teledyne Technologies is a leading provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies’ operations are primarily located in the United States, the United Kingdom and Mexico. For more information, visit Teledyne Technologies’ website at www.teledyne.com
Investor Contact: Jason VanWees (805) 373-4542
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