Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Teledyne completes acquisition of gas and flame detection business

THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Teledyne Technologies Incorporated announced the successful completion of the previously announced acquisition by Teledyne of the gas and flame detection business of 3M for $230 million in cash. The gas and flame detection business includes Oldham, Simtronics, Gas Measurement Instruments (GMI), Detcon and select Scott Safety products.

The gas and flame detection business provides a portfolio of fixed and portable industrial gas and flame detection instruments used in a variety of industries including petrochemical, power generation, oil & gas, food & beverage, mining and waste water treatment. The Oldham, Simtronics, GMI and Detcon brands bring together over 100 years of industry experience across a wide range of standard products and customized solutions. These rugged trace gas analyzers feature fast response time, intrinsically-safe sensors and satisfy multiple international certification standards.

“We are excited to welcome this new core business and its employees to Teledyne. The gas and flame detection business utilizes similar technology and serves related markets as our portfolio of environmental instrumentation businesses. However, our respective products do not compete and we generally serve customers in complementary geographies,” said Robert Mehrabian, Executive Chairman of Teledyne. “We have now completed two corporate carve-out acquisitions in 2019, and we closed each transaction within two months of announcement.”

Teledyne management expects the transaction to be accretive to GAAP earnings per share in the first year after the acquisition.


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
The $26-B small-scale LNG market is gaining exciting traction this year.
Regional Focus: Singapore moves closer to becoming a global LNG trading hub
-Eugene Gerden
Amid strong demand for LNG in the Asia-Pacific region and the need to secure regular gas supplies on a large scale, Singapore may become a major regional hub for LNG trade.
Show Preview
-Adrienne Blume
For the third time in its 47-yr history, Gastech is returning to Houston, Texas.


Reliable Operations & Saving OPEX for Gas Plant Refrigeration – Selecting the right technologies

Register Now

By selecting integrally geared turbocompressors for gas plant refrigeration duty coupled with a mag bearing turboexpander, operators get the added values of technology with highly reliable operations and reduced OPEX. Join Sami Tabaza and Chris Blackmer from Atlas Copco Gas and Process for a presentation followed by Q&A surrounding the turbocompressor and turboexpander technologies that can efficiently and reliably fit your gas plant design and operation to get the advantages of both technologies.

June 18, 2019 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2019 Gulf Publishing Holdings LLC.