Telephonics Corporation Announces Second Contract with The Boeing Company
FARMINGDALE, NEW YORK, March 4, 2013 – Telephonics Corporation (Telephonics), a wholly owned subsidiary of Griffon Corporation (NYSE: GFF), announced today that The Boeing Company (Boeing) has committed to purchase additional TruLink® Wireless Intercommunication Systems to be used by their production teams in Everett, Washington. This follow-on purchase comes after successful implementation of TruLink on Boeing's commercial flight line production in August 2012. Full deployment is expected to be completed by June 2013.
During aircraft assembly, the wireless TruLink unit will improve the safety of communications for Boeing's production teams with a hands-free, voice activated, and full-duplex system. This will eliminate the long cords that tether production teams to the aircraft that may become entangled or cause injuries. Instead of using hand signals, whistles, and other radios that encounter interference, all production teams will be on the same system with the added feature of reduced ambient noise. This will significantly increase productivity and make communication easier and more reliable.
"TruLink's effectiveness as a hands-free, wireless, robust intercommunication system will significantly increase safety and speed of communication for Boeing's production line crew," said Mr. Joseph Battaglia, Telephonics' President and CEO. "Telephonics is dedicated to the safety and reliability that production teams and flight crews deserve."
Telephonics' high-technology engineering and manufacturing capabilities provide integrated information, communication and sensor system solutions to military and commercial markets worldwide. Telephonics specializes in aircraft intercommunication systems, wireless communication systems, radars, identification friend or foe products, integrated security systems, air traffic management systems, aerospace electronics, and the performance of threat and radar system analyses.
About Griffon Corporation
Griffon Corporation (the Company or Griffon), headquartered in New York, N.Y., is a diversified management and holding company that conducts business through wholly-owned subsidiaries. The Company oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. The Company provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital to further diversify itself.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain statements other than statements of historical fact included in this release are forward-looking statements. Such forward-looking statements are based on the beliefs of the company's management, as well as assumptions made by and information currently available to the company's management. Actual results could differ materially from those contemplated by the forwardlooking statements. Information concerning risks and uncertainties that may impact the company's results and forward-looking statements are set forth in Griffon Corporation's filings with the SEC. The company does not undertake to release publicly any revisions to these forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.