Griffon Corporation Announces $50mm Share Buyback Authorization
Griffon is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.
Griffon currently conducts its operations through two reportable segments:
Home & Building Products (“HBP”) segment consists of three companies,
The AMES Companies, Inc.(“AMES”), ClosetMaid LLC(“ClosetMaid”), and Clopay Building Products Company, Inc.(“CBP”):
- AMES, founded in 1774, is the leading U.S. manufacturer and a global provider of long-handled tools and landscaping products for homeowners and professionals.
- ClosetMaid, founded in 1965, is a leading North American manufacturer and marketer of closet organization, home storage, and garage storage products, and sells to some of the largest home center retail chains, mass merchandisers, and direct-to-builder professional installers.
CBP, since 1964, is a leading manufacturer and marketer of
residential and commercial garage doors and sells to professional
dealers and some of the largest home center retail chains in
North Americaand, under the CornellCookson brand, is a leading U.S. manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional, and retail use.
Defense Electronics segment consists of
Telephonics Corporation, founded in 1933, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers.
For more information on Griffon and its operating subsidiaries, please see the Company’s website at www.griffon.com.
Brian G. Harris, 212-957-5000
SVP & Chief Financial Officer
Michael Callahan, 203-682-8311
Senior Vice President