THOUSAND OAKS, Calif. / CRWE PRESS RELEASE / June 3, 2016 – Teledyne Technologies Incorporated (NYSE:TDY) today announced that its Shipley, United Kingdom-based Teledyne Defence business unit, part of its Teledyne Microwave Solutions group, has been awarded a major supply contract by OneWeb Satellites to support its initiative to deploy 900 small satellites globally.
Teledyne Defence’s communications repeater equipment will form part of the satellite payload designed to allow OneWeb Satellites to deliver broadband internet access on a global scale. The agreement includes an initial development phase, with additional options for the manufacture of production quantities to support the OneWeb’s fleet to commence in 2017.
“Teledyne is pleased to be a small part of OneWeb’s landmark initiative to create a constellation of satellites to deliver high speed internet access globally and affordably,” said Robert Mehrabian, Chairman, President and Chief Executive Officer of Teledyne. “For decades, Teledyne has provided cutting edge microwave solutions to commercial and defense industries.”
About Teledyne Technologies
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, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne Technologies’ website at www.teledyne.com.
Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements related to a contract award and production prospects. Forward-looking statements are not guarantees of future performance and actual events and results could differ materially from those expressed or implied by forward-looking statements. Teledyne disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Teledyne Technologies Incorporated