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Updated: July 8th, 2008 05:26 PM CDT

Teledyne Completes Acquisition of Rockwell Scientific Company LLC

via PRNewswire

LOS ANGELES , Sept. 18 /PRNewswire-FirstCall/ -- Teledyne Technologies Incorporated (NYSE: TDY) announced today that it has completed its acquisition of Rockwell Scientific Company LLC for $167.5 million in cash, with the sellers retaining certain liabilities. Rockwell Scientific, headquartered in Thousand Oaks, Calif., is a leading provider of research and development services, as well as a leader in developing and manufacturing infrared andvisible light imaging sensors for surveillance applications.

Rockwell Scientific, which was 50 percent owned by each of Rockwell Automation, Inc. (NYSE: ROK) and Rockwell Collins, Inc. (NYSE: COL), will operate under the names Teledyne Scientific Company and Teledyne ImagingSensors. Teledyne funded the acquisition primarily from borrowings under its$400 million credit facility. For its fiscal year ended September 30, 2005 ,Rockwell Scientific had revenue of $114 million.

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 powergeneration systems. Teledyne Technologies has operations in the United States , the United Kingdom , Mexico and Canada . For more information, visit Teledyne Technologies' website at

Forward-Looking Statements Cautionary Notice

This press release contains forward-looking statements, as defined in thePrivate Securities Litigation Reform Act of 1995, with respect toacquisitions. Actual results could differ materially from theseforward-looking statements. Many factors, including the company's ability tointegrate the acquisition and achieve potential synergies, could changeanticipated results.

SOURCE Teledyne Technologies Incorporated

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