THOUSAND OAKS, Calif. (AP) — Engineering and electronic products maker Teledyne Technologies Inc. said Monday that it won a $383 million contract to design and build a sub that could be used to deliver special forces troops on jobs.
The shallow water combat submersible would replace the current SEAL vehicle, according to the company.
The military's special operations command, which oversees elite tactical teams from the Army, Air Force, Navy and Marine Corps, picked the company's Huntsville, Ala.-based Teledyne Brown Engineering subsidiary for the work. The $383 million figure includes all options.
The company, based in Thousand Oaks, Calif., said its subsidiary built a full-scale interior mock-up of the new vehicle and demonstrated the system under a development contract awarded last October.
Teledyne shares fell $1.13, or 2.2 percent, to close at $49.39.
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