Teledyne Acquires FLIR
Industrial conglomerate Teledyne Technologies Incorporated (NYSE:TDY) said it has completed its acquisition of thermal imaging cameras and sensors company FLIR Systems, Inc. (NASDAQ:FLIR). FLIR will now be included in Teledyne’s Digital Imaging segment and operate under the name Teledyne FLIR.Under the terms of the cash-and-stock deal announced in January, FLIR stockholders received $28.00 per share in cash and 0.0718 shares of Teledyne common stock for each FLIR share, which implies a total purchase price of approximately $57.40 per FLIR share based on Teledyne’s closing price on May 13.
Workboat Communications Evolve to Meet Myriad Missions
Choosing next generation communication systems for professional marine operations can be a daunting task. Not to worry: John Haynes provides a primer. Over the past decade we have come to expect fast, seamless global communications from a single device that fits in our pocket. The age of the smart phone and tablet enables multiple voices talking in a conference call and real time transfer of data, ranging from documents to photos and videos. In the modern bridge, most crew members have a GPS in their pocket which can identify where that person is on the planet.
Teledyne Reports Third Quarter Results
Teledyne today reported third quarter 2013 sales of $571.6 million, compared with sales of $547.4 million for the third quarter of 2012, an increase of 4.4%. Net income attributable to Teledyne was $46.8 million ($1.23 per diluted share) for the third quarter of 2013, compared with $42.7 million ($1.14 per diluted share) for the third quarter of 2012, an increase of 9.6%. “In the third quarter, our commercial industrial businesses collectively performed very well. As an example, our instrumentation segment generated organic revenue growth of 12.7 percent,” said Robert Mehrabian, chairman, president and chief executive officer. “Also in the quarter…
New RBG Gulf of Mexico Service Centre
RBG, provider of fabric maintenance and construction support to the global energy industry, expanded its Gulf of Mexico (GOM) operations with the opening of a new service centre in Lafayette, USA. RBG has been operating in the region since 1999 and the move comes after the company outgrew its previous facility, also located in Lafayette. The new base will increase capacity, efficiency and cost-effectiveness for clients, while supporting RBG’s continued growth in coating and cleaning services to offshore and onshore clients in the region. The 18,000 sq ft site, which houses indoor storage, training and administrative facilities, will offer RBG’s full range of Fabric Maintenance services including blasting and coatings, specialist cleaning, insulation and scaffolding.
