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NEWS AND INFORMATION
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ODI AWARDED CONTRACT BY TYCO TELECOMMUNICATIONS FOR SUBSEA
FIBER OPTIC CONNECTION SYSTEMS FOR GULF OF MEXICO PROJECT
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Ocean Design, Inc., (ODI), a Teledyne Technologies Incorporated (NYSE: TDY)
majority owned company and a world leader in subsea electrical and fiber-optic
interconnect systems, has announced Tyco Telecommunications (US) Inc. has
awarded ODI a contract for the manufacture and supply of a fully integrated
fiber-optic communications connection system for its BP Gulf of Mexico Fiber
Optic Network project. The Gulf of Mexico Fiber Optic Network contract was
awarded to Tyco by BP America Inc. to deliver a subsea telecommunications
network to be deployed in the Gulf of Mexico in 2007.
The system will comprise the undersea backbone of a regional communications
network, providing connectivity between BP's Gulf of Mexico offshore production
facilities and the regional operating center in Houston, Texas. The system will
initially link seven deep water oil & gas drilling and production platforms
with landings in Freeport, Texas and Pascagoula, Mississippi. The network
incorporates an upgrade capability designed to support 64 platforms.
This contract reinforces ODI's position as a market leader in the supply of
subsea, wet-mate, fiber-optic connection systems to the offshore oil and gas
industry. The system will utilize ODI's MCDU product, which provides
connectivity for Tyco's Fiber Distribution Canisters and Deployment Pallets,
and ODI's Rolling-Seal Connectors, which offer fully wet-mateable connections
for optical communication.
"Communications systems to high value production platforms, now further offshore
in deep water, require the innovative application of undersea fiber optic
technologies, especially in an environment that is susceptible to hurricanes,"
said Rob Munier, managing director for global solutions at Tyco
Telecommunications. "The system we are building will set a new standard for
offshore communications systems."
ODI is a technology-focused provider of innovative engineered solutions,
employing skilled staff and state-of-the-art equipment and processes to design
and manufacture a broad range of products for harsh environment system
interconnectivity. The recent acquisition of a majority interest in ODI by
Teledyne Technologies is also expected to strengthen the company's ability to
achieve future growth and meet the technological challenges of the subsea
industry.
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ODI Receives $4.5 Million Contract from Aker Kvaerner
ODI (Ocean Design, Inc.), a Teledyne Technologies Incorporated (NYSE: TDY)
majority owned company and a world leader in subsea electrical and fiber-optic
interconnect systems, has announced that Aker Kvaerner Subsea AS has awarded
ODI the contract for manufacturing and supplying the fully integrated
fiber-optic communications connection system for its Reliance KG-D6 Subsea
Production Control System. The Production Control System contract was awarded
to Aker Kvaerner by Reliance in May 2006 as part of an engineering, procurement
and construction contract to deliver an 18-well subsea production system for
the deepwater Block KG-D6 gas development located off the east coast of India.
"This is a significant win for ODI," stated Mike Read, President and CEO of ODI.
"This contract, valued in excess of $4.5 million, reinforces ODI's position as
market leader in the supply of subsea, wet-mate, fiber-optic connection systems
to the offshore oil and gas industry."
The recent acquisition of a majority interest in ODI by Teledyne Technologies is
also expected to strengthen the company's ability to achieve future growth and
meet the technological challenges of the subsea industry.
ODI is a technology-focused provider of innovative engineered solutions,
employing skilled staff and state-of-the-art equipment and processes to design
and manufacture a broad range of products for harsh environment system
interconnectivity. ODI solutions include underwater mateable electrical and
fiber-optic connectors, harnesses, terminations and distribution systems.
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Teledyne to Acquire Majority Stake in Ocean Design, Inc.
Ocean Design, Inc. (ODI) announced today that Teledyne Technologies Incorporated
through its subsidiary, Teledyne Instruments, Inc., has entered into an
agreement to acquire a majority interest in Ocean Design, Inc. (ODI) for
approximately $30 million. Teledyne Technologies, a leading provider of
sophisticated electronic components, instruments and systems engineering
solutions, had sales of $1.2 billion in 2005.
(Click
here for ODI's news Release)
"Both ODI and Teledyne will be able to take advantage of shared technological
capabilities in military high voltage and fiber-optic connectors, cables and
subsystems and provide a broader subsystem solution to our existing customers,"
said Mike Read, CEO and President of ODI.
For more information on Teledyne and ODI, please click on the
link below:
http://www.investquest.com/iq/t/tdy/ne/news/tdy080106.htm
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Stan Wisniewski has joined ODI as the new Senior Vice President
of Operations
 Stan Wisniewski has held senior positions in
Engineering and Operations Management at AT&T Bell Laboratories, AT&T
Submarine Systems, JDS Uniphase, and Lucent Technologies/OFS. Stan has an
extensive background in Operations Management, Technology Development, bringing
new products to market and ensuring quality. Stan is a graduate of Penn State
with a BS and MS in Electrical Engineering. Please welcome Stan to the ODI
team.
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Roger White has joined ODI as the new Director of Sales and
Marketing, Oil & Gas for Ocean Design Europe Ltd.
 Roger comes to ODI from his most recent
position of Sales and Marketing Manager for Aker Kvaerner Subsea Ltd, based in
Aberdeen, Scotland. Roger will be utilizing his extensive background with Aker
Kvaerner, as well as, ABB Vetco Gray in the UK and Houston, to further the
sales opportunities, market planning, new product and new client sales
opportunities for ODI Europe. Roger has a Master of Science degree and a
Mechanical Engineering degree from Cranfield Institute. Please welcome Roger to
the ODI team.
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