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Chinese buy Continental
Another US company goes to the Chinese.
Teledyne Continental Motors, a subsidiary of Teledyne Technologies, has been sold to Technify Motors, a subsidiary of AVIC International, a Chinese government-owned holding company with diverse business interests in the aerospace sector.
Teledyne's Jason VanWees, Teledyne Technologies' vice president for business development, said that once the sale has cleared regulatory hurdles, it should become final by the end of the first quarter of 2011. Until then, Teledyne will continue to oversee TCM.
The sale price, according to AVIC and Teledyne Technologies, was $186 million.
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