Teledyne Sells Printed Circuit Board Unit

Thousand Oaks-based Teledyne announced this morning that it is selling off its printed circuit board business, Teledyne PCT, to FTG Circuits. The deal is worth $9.3M in cash. According to Teledyne, Teledyne PCT has generated $15.0 to $20.0M in annual revenues for each of the last three years. Teledyne PCT develops rigid-flex printed circuit boards and assemblies, used in the defense, aerospace, and oil and gas industries. Teledyne said the sale will help it continue to focus on "high-technology, proprietary engineered products". Teledyne PCT was based in Hudson, New Hampshire.