Allegheny Teledyne Completes Sale of McCormick Selph Ordnance Unit

19 July 1999

Allegheny Teledyne Completes Sale of McCormick Selph Ordnance Unit

    PITTSBURGH--July 16, 1999--Allegheny Teledyne Incorporated announced today that it has completed the previously announced sale of the McCormick Selph Ordnance business unit to McCormick Selph, Inc., a California corporation affiliated with J. F. Lehman & Company. Terms of the transaction were not announced.
    McCormick Selph, located in Hollister, CA, manufactures advanced controlled pyrotechnic components and systems for the aerospace industry and automotive safety products for use in connection with airbags and seat belt safety systems.
    Allegheny Teledyne Incorporated is a diversified manufacturing company serving global markets with specialty metals, aerospace, electronic, industrial and consumer products. The company is one of the largest and most diversified specialty metals producers in the world. Allegheny Teledyne's goal is to be the low cost, high quality supplier to global markets. Allegheny Teledyne's website can be found at http://www.alleghenyteledyne.com.
    J. F. Lehman & Company, located in New York and Virginia, is a private equity fund investing in the aerospace, engineering and manufacturing industries. The fund has an extensive record of assisting its portfolio companies in achieving exceptional long-term growth.