Teledyne Awarded $22 Million Contract for Autonomous Underwater Vehicles
20 August 2019 - 6:00AM
Business Wire
Teledyne Technologies Incorporated (NYSE:TDY) announced today
that its subsidiary, Teledyne Instruments, Inc., has been awarded
an indefinite delivery/indefinite quantity (IDIQ) contract by the
U.S. Naval Undersea Warfare Center to supply autonomous underwater
vehicles (AUVs) and related monitoring and communications acoustic
systems. The initial 2019 value of the contract is approximately
$5.4 million. The award has a maximum value of $22.2 million
through December 2024, if all contract options are exercised.
Autonomous underwater vehicles are capable of carrying out
complex survey missions for commercial, scientific and defense
applications. Teledyne AUVs’ modular architecture enables sensors
to be easily integrated and battery packs to be exchanged in the
field. In addition to powered, self-propelled AUVs, Teledyne
provides a wide range of autonomous profiling floats,
variable-buoyancy autonomous gliding vehicles, unmanned surface
vehicles and inspection-class remotely operating vehicles
(ROVs).
“For more than a decade, Teledyne has been the leading provider
of autonomous underwater gliding vehicles to the U.S. Government,”
said Al Pichelli, President and Chief Executive Officer. “We are
exceptionally pleased now to have received our first significant
order from the U.S. Navy for Teledyne’s self-propelled autonomous
underwater vehicles.”
About Teledyne
Teledyne is a leading provider of sophisticated instrumentation,
digital imaging products and software, aerospace and defense
electronics, and engineered systems. Teledyne’s operations are
primarily located in the United States, Canada, the United Kingdom,
and Western and Northern Europe. For more information, visit
Teledyne’s 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 contract award. Actual results could differ
materially from these forward-looking statements. Many factors
could change anticipated results, including funding, continuation
and award of government programs, as well as risks associated with
government contracts, are identified in Teledyne’s 2018 Annual
Report on Form 10-K.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190819005568/en/
Jason VanWees (805) 373-4542
Teledyne Technologies (NYSE:TDY)
Historical Stock Chart
From Apr 2024 to May 2024
Teledyne Technologies (NYSE:TDY)
Historical Stock Chart
From May 2023 to May 2024