Teledyne Buys Automated Lab Equipment MakerTuesday, August 20, 2013
A subsidiary of Teledyne Technologies Inc. has acquired a Nebraska company that makes automated laboratory equipment.
Terms of the deal between Teledyne Instruments Inc., of City of Industry, and CETAC Technologies, of Omaha, were not disclosed. Teledyne Instruments is a subsidiary of Teledyne Technologies in Thousand Oaks.
The equipment made by CETAC is used for elemental and chemical analysis fits well with Teledyne’s environmental instrumentation product line, said Teledyne Chief Executive Robert Mehrabian in a prepared statement.
“Furthermore, the acquisition enhances Teledyne’s strong existing position in specialty mercury analyzers,” he added.
Teledyne is a manufacturer of instrumentation and digital imaging products in the aerospace, defense electronics, oil and gas, and other industries.
The acquisition was announced late Monday.
Shares gained $1.01, or more than 1 percent, on Tuesday to close at $80.35 on the New York Stock Exchange.