Teledyne wins $15.4M contract for European drone energetics

Teledyne Energetics UK, a unit of Teledyne Technologies Incorporated (NYSE: TDY), has secured a $15.4 million contract with an undisclosed Europe-based defense technology manufacturer to supply energetics products for unmanned systems, according to a press release.

Under the agreement, Teledyne will provide initiation and energetic solutions for unmanned systems applications. The company said deliveries will begin immediately to support current development activity.

The initial contract establishes what Teledyne describes as the foundation for a longer-term supply relationship with a potential value of more than $50 million as production requirements increase.

The contract also supports expansion of Teledyne's regional manufacturing capacity in Europe for specialist energetics products.

"This award reflects the speed at which Europe's unmanned systems market is evolving and the strategic importance of building trusted industrial capacity close to the programmes it supports," said John Toner, Senior Vice President at Teledyne Aerospace & Defence Electronics UK.

Teledyne Technologies is headquartered in the United States and operates primarily in the U.S., the United Kingdom, Canada, and Western and Northern Europe.

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