Teledyne Isco enters agreement to acquire MGD Technologies Inc.

Teledyne Technologies' subsidiary Teledyne Isco Inc. entered into an agreement to acquire MGD Technologies Inc. based in San Diego. The transaction is expected to close during November 2005 and is subject to customary closing conditions. Founded in 1996, MGD's principal business focuses on the development, manufacture, sales, repair, and sustaining engineering of a unique velocity profiling flow measurement system...

LINCOLN, NE, Nov. 7, 2005 -- Teledyne Technologies Inc. announced Oct. 28 that a subsidiary Teledyne Isco Inc. entered into an agreement to acquire MGD Technologies Inc. based in San Diego. The transaction is expected to close during November 2005 and is subject to customary closing conditions.

Founded in 1996, MGD's principal business focuses on the development, manufacture, sales, repair, and sustaining engineering of a unique velocity profiling flow measurement system. MGD's patented ADFM™ Velocity Profiling flow meters operate on an innovative pulse-Doppler principle that is truly revolutionary to the customer industries served throughout the world. Typical projects of MGD include applications in wastewater, combined sanitary/stormwater, industrial waste, stormwater, irrigation, and other non-potable water conveyance systems.

MGD's velocity profiling flow measurement systems will complement Teledyne Isco's innovative flow measurement and data management products, which are widely used in wastewater collection networks and treatment plants worldwide.

Teledyne Isco (www.isco.com) is based in Lincoln, Neb. Founded in 1958 as Isco Inc., it was acquired by Teledyne in June 2004. Through a focus on designing and building products to meet specialized customer needs, the company grew from founder Dr. Robert Allington's garage into its current 200,000 square foot plant. Today, the company manufactures a wide range of products for professionals working in water pollution monitoring and abatement, engineers and managers involved with wastewater process control, and scientists involved in field and laboratory work.

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