Tuesday, December 14, 2010

Teledyne Continental sold

Teledyne Continental Motors, headquartered in Mobile, Ala., is being sold to Technify Motors for $186 million. The sale was announced Tuesday by California-based Teledyne Technologies Inc. and China-based AVIC International. Teledyne Continental Motors makes piston engines, spare parts and components used in small propeller-driven general aviation aircraft. It has about 400 workers in Mobile, as well as service centers in Fairhope, Ala. and Mattituck, N.Y. The companies say the sale will enhance the ability of Continental Motors to compete in growing markets like China. AVIC plans to retain Continental Motors’ senior management and headquarters in Mobile. It also sets the stage for new hires of skilled workers in Mobile as international demand for piston-powered aircraft would result in increased engine manufacturing at Continental Motors. (Source: Business Wire, Mobile Press-Register, 12/14/10)