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Teledyne (TDY) Receives Commercial Laboratory Services Contract from Dow Chemical (DOW)

 November 16, 2012 02:43 PM

(By Balaseshan) Teledyne Technologies Inc. (NYSE: TDY), a provider of electronic subsystems and instrumentation, said its unit has received a three-year commercial laboratory services contract from The Dow Chemical Co. (NYSE: DOW).

Teledyne Brown Engineering Inc. in Huntsville Alabama was awarded a three year Lab and Office Facility Management contract for Research Services from Dow Chemical in Midland, Michigan as part of a strategic services partnership between the two companies.

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Teledyne Brown, in conjunction with Teledyne Tekmar, will lead on-site and off-site management and support research services at Dow Chemical research facilities in Midland, Michigan; Freeport, Texas; and Spring House, Pennsylvania.

In addition, other Teledyne sites will provide support during the initial stage of the operation. The award complements Teledyne's strategic thrust in test and measurement, broadens the company's overall market reach, and increases its commercial portfolio.

Teledyne Brown will leverage its technology, experience in managing operations and technical services, and expertise of key personnel and senior management team to deliver services that afford safety, quality, and operational efficiency.

Teledyne Brown has a proven record of facilities and plant management. The company has provided propellants, pressurants and calibration services to NASA's Marshall Space Flight Center for more than 37 years with 2,446,700 man-hours without a lost time accident.

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Teledyne Brown also manages an enrichment technology facility that performs classified work and has operated and maintained commercial radiological laboratories since 1965.

TDY is trading up 0.53 percent at $60.72 on Friday, while DOW trades down 1.11% at $27.58.

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