8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 19, 2011

Teledyne Technologies Incorporated

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation) 1-15295
(Commission File Number) 25-1843385
(I.R.S. Employer Identification No.)

1049 Camino Dos Rios
Thousand Oaks, California
(Address of principal executive offices)
91360-2362
(Zip Code)

Registrant’s telephone number, including area code: (805) 373-4545

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))

TABLE OF CONTENTS

	Item 2.01. Completion of Acquisition or Disposition of Assets.
	Item 7.01. Regulation FD Disclosure
	Item 9.01 Financial Statements and Exhibits
SIGNATURE
EXHIBIT INDEX
EX-99.1

Item 2.01. Completion of Acquisition or Disposition of Assets.

     On April 19, 2011, Teledyne Technologies Incorporated (“Teledyne”) completed the sale of all the issued and outstanding capital stock of Teledyne Continental Motors, Inc. (“Continental Motors”) and Teledyne Mattituck Services, Inc. (“Mattituck”), to Technify Motor (USA) Inc. (“Technify”), a subsidiary of AVIC International (“AVIC”). The sale was made pursuant to a Purchase Agreement, dated as of December 11, 2010, by and among Teledyne, Technify and AVIC. The purchase price for Continental Motors and Mattituck was $186 million, prior to customary working capital adjustments.

     Continental Motors designs, develops and manufactures piston engines and ignition systems for general aviation aircraft and provides spare parts and engine rebuilding services for the general aviation aircraft marketplace. Mattituck serves as an aftermarket supplier and piston engine overhauler to the general aviation aircraft marketplace.

Item 7.01. Regulation FD Disclosure

     On April 19, 2011, Teledyne issued a press release announcing the completion of the sale of Continental Motors and Mattituck. A copy of this press release is furnished as Exhibit 99.1 to this report and is incorporated by reference herein. The information furnished pursuant to this Item 7.01 shall in no way be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit 2.01	Purchase Agreement by and among Teledyne Technologies Incorporated, Technify Motor (USA) Ltd. and AVIC International Holding Corporation, dated as of December 11, 2010 (incorporated by reference to Item 2.2 of Teledyne’s Annual Report on Form 10-K for the fiscal year ended January 2, 2011).
Exhibit 99.1	Press Release dated April 19, 2011, announcing the completion of the sale of Teledyne Continental Motors, Inc. and Teledyne Mattituck Services, Inc.

Page 2 of 4 

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TELEDYNE TECHNOLOGIES INCORPORATED
By:	/s/ Dale A. Schnittjer
	Dale A. Schnittjer
	Senior Vice President and Chief Financial Officer

Dated: April 19, 2011

Page 3 of 4  

EXHIBIT INDEX

Description

Exhibit 2.01	Purchase Agreement by and among Teledyne Technologies Incorporated, Technify Motor (USA) Ltd. and AVIC International Holding Corporation, dated as of December 11, 2010 (incorporated by reference to Item 2.2 of Teledyne’s Annual Report on Form 10-K for the fiscal year ended January 2, 2011).
Exhibit 99.1	Press Release dated April 19, 2011, announcing the completion of the sale of Teledyne Continental Motors, Inc. and Teledyne Mattituck Services, Inc.

Page 4 of 4  

EX-99.1

Exhibit 99.1

1049 Camino Dos Rios
Thousand Oaks, CA 91360

NewsRelease

Teledyne Completes Sale of its Piston Engine Business

THOUSAND OAKS, Calif. — April 19, 2011 — Teledyne Technologies Incorporated (NYSE:TDY) announced today that it has completed the divestiture of its piston engine businesses, Teledyne Continental Motors, Inc. (“Continental Motors”) and Teledyne Mattituck Services, Inc., in a stock sale to Technify Motor (USA) Inc., a subsidiary of AVIC International Holding Corporation, for a purchase price of $186 million, prior to customary working capital adjustments.

“The sale of Continental Motors allows Teledyne to focus further on our core commercial electronics and instrumentation businesses serving global energy, water quality and industrial applications,” said Robert Mehrabian, chairman, president and chief executive officer. “With the closure of this transaction, Teledyne is essentially a pure-play electronics, imaging, instrumentation and engineering focused company.”

Teledyne anticipates using the proceeds of the divestiture to pay down debt on the company’s credit facility, as well as make a $32.0 million pretax voluntary pension contribution.

Headquartered in Mobile, Ala., Continental Motors is a leading manufacturer of FAA-certified piston engines, as well as spare parts and components, used in small propeller-driven general aviation aircraft around the world. Continental Motors employs approximately 400 workers in Mobile, and has been a highly reliable manufacturer of commercial aircraft piston engines for more than 80 years. Continental Motors also maintains service centers in Fairhope, Ala. and Mattituck, N.Y.

Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne Technologies’ operations are primarily located in the United States, Canada, the United Kingdom and Mexico. For more information, visit Teledyne Technologies’ website at www.teledyne.com.

Risk Factors and Cautionary Statement as to Forward-Looking Statements

This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a recent divestiture. Actual results could differ materially from these forward-looking statements. Furthermore, with the recently completed acquisition of DALSA Corporation and the completion of the divestiture of Teledyne’s piston engines businesses, the risk profile of Teledyne will differ, and may differ materially from prior years, which could materially change Teledyne’s results of operations.

Investors and National Media:	Jason VanWees Teledyne Technologies (805) 373-4542
Press and Local Media:	Rick Heartsill Direct Communications (205) 356-8180