Teledyne
Completes Acquisition of Cougar Components Corporation
CONTACT:
Investor
Jason VanWees
(310) 893-1642
Media
Robyn McGowan
(310) 893-1640
LOS
ANGELES, California -- July 1, 2005 -- Teledyne Technologies
Incorporated (NYSE:TDY) announced today that a subsidiary,
Teledyne Investment, Inc., has completed the acquisition of
Cougar Components Corporation for $26.5 million. Cougar designs
and manufactures RF and microwave cascadable amplifiers and
subsystems for signal processing equipment. Located in Sunnyvale,
California, the business will operate as Teledyne Cougar,
Inc., a business unit of Teledyne Microelectronic Technologies.
Teledyne
funded the acquisition primarily from borrowings under its $280
million credit facility arranged with a syndicate of banks. Cougar
Components had sales of approximately $18.1 million for its fiscal
year ended August 31, 2004.
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
the Company's earnings and 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 and achieve anticipated synergies, could
change anticipated results.
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