#Defense Stock News - Teledyne (NYSE: $TDY) Awarded $45.7 Million Missile Defense Contract
THOUSAND OAKS, Calif. - February 16, 2018 (Investorideas.com Newswire) Teledyne Technologies Incorporated (NYSE:TDY) announced today that its subsidiary, Teledyne Brown Engineering, Inc., has been awarded a $45.7 million Task Order by the U.S. Army Space and Missile Defense Command (SMDC) related to missile defense modeling and simulation tools and software. Work is planned to begin immediately and could extend through July 2023.
This Task Order is for Teledyne Brown Engineering's Extended Air Defense Simulation (EADSIM), a community accepted software model, supported worldwide with over 220 user sites. EADSIM is used by operational commanders, trainers, and analysts to model and evaluate the performance and effectiveness of a broad range of current and future defense systems in a full operational context. It provides a single, integrated, modular, scalable, reconfigurable simulation of air, space, and missile warfare. EADSIM has been developed and sustained exclusively by Teledyne Brown Engineering since its Initial Operational Capability in 1989.
"For decades, Teledyne has led and supported a broad range of air and missile defense programs, including software development, hardware in the loop simulation, and test and evaluation of complex systems," said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. "Given current and emerging threats to U.S. national security, we are pleased to play a role in our nation's defense."
The Task Order was awarded under SMDC's Design, Development, Demonstration and Integration (D3I) Domain 1 contract.
About Teledyne Brown Engineering
Teledyne Brown Engineering is an industry leader in full-spectrum engineering and advanced manufacturing solutions for harsh environments in space, defense, energy, and marine industries. For over six decades, the company has successfully delivered innovative systems, integration, operations and technology development worldwide. For more information about Teledyne Brown Engineering visit: www.tbe.com.
About Teledyne Technologies Incorporated
Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies' operations are primarily located in the United States, the United Kingdom, Canada, and Western and Northern Europe. For more information, visit Teledyne Technologies' website at www.teledyne.com.
Forward-Looking Information 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 2016 Annual Report on Form 10-K.
Teledyne Technologies Incorporated
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