LOS ANGELES, Aug. 29, 2005 (BUSINESS WIRE) -- Teledyne Technologies Inc. subsidiary, Teledyne Investment Inc. has completed its acquisition of RD Instruments Inc. for about $37 million. RD Instruments (RDI) designs and manufactures state-of-the-art acoustic Doppler instrumentation. Located in San Diego, Calif., the business will operate as Teledyne RD Instruments Inc.
Teledyne funded the acquisition primarily from borrowings under its $280 million credit facility arranged with a syndicate of banks. RD Instruments had sales of about $29.0 million for its fiscal year ended Dec. 31, 2004.
"The acquisition of RD Instruments complements Teledyne's existing businesses in multiple market segments," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "For example, both RD Instruments and Teledyne Geophysical Instruments employ ultrasonic transducers to sense signals in water. Teledyne's existing lines of hydrophone arrays focus on passive detection primarily for the petrochemical exploration market, while RD Instruments is a leader in active acoustic transmission and reception for oceanographic, environmental and military applications. RDI's Acoustic Doppler Current Profilers perform precise measurement of currents at varying depths in oceans and rivers, and its Doppler Velocity Logs are used for navigation of civilian and military surface ships, unmanned underwater vehicles and U.S. Navy divers.
"Furthermore, both RDI and Teledyne Isco manufacture ultrasonic instruments that measure the flow rate of wastewater. The combination of Teledyne's cost-effective instruments and software with RDI's products, which provide the highest accuracy for large pipes, will permit Teledyne to offer a more complete portfolio of flow measurement solutions to our customers."
In other news, Teledyne Technologies announced Aug. 26 that Teledyne Isco Inc. (www.isco.com), completed the sale of its SWIFT™ monolithic liquid chromatography media products, intellectual property, technology and related assets to Dionex Corp., a leading manufacturer and marketer of chromatography systems for chemical analysis based in Sunnyvale, Calif.
Divestiture of this non-core business, in addition to the earlier dispositions of the AFTCO electromagnetic flow meter partnership and the German-STIP-Isco process monitoring business, allows Teledyne Isco to focus on its market leading flash chromatography instruments and consumables, core wastewater sampler and flow products, and high-pressure syringe pumps.
Teledyne Technologies (www.teledyne.com) 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.
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