Telephonics Teams with Sierra Nevada Corporation on U.S. Marine Corps’ Modi II
FARMINGDALE, N.Y. February 8, 2016 – Telephonics Corporation, a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), announced today that it has received an $18 million manufacturing contract from Sierra Nevada Corporation (SNC) in support of approximately 580 MODI II Electronic Countermeasure (ECM) systems for the U.S. Marine Corps Marine Expeditionary Units. Modi II, an SNC design, is a man-pack ECM jammer which has industry-leading Size, Weight and Power (SWaP) metrics and is an exceptionally cost-effective, sustainable capability set.
Modi II is currently in full-rate production at Telephonics' Long Island manufacturing facilities and production is scheduled for completion by the end of summer 2016.
"Telephonics is extremely proud to partner with SNC on the Modi II team, helping provide life-saving technologies to our Service Members," said Hector F. Colon, Corporate Vice President. "Telephonics has a proven track record of effectively executing low- and high-volume contract manufacturing efforts of sophisticated electronics equipment and delivering quality products on time, every time. Modi II affirms our continued commitment to support these critical programs for our Armed Forces."
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.
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About Griffon Corporation
Griffon Corporation, 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. 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.
"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 forward-looking 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.