Griffon Corporation
Encyclopedia
Griffon Corporation founded in 1959, is a diversified manufacturing firm. Its primary divisions include, Home and Building Products (Clopay Doors and Ames), Clopay Plastics Products, and Telephonics Corporation. The company is known for manufacturing garage doors, landscaping products, specialty plastic films, and electronic information and communication systems, which it distributes through 48 service centers worldwide.
Griffon listed on the New York Stock Exchange
in February 1993 and is a component stock of the S&P 600 SmallCap and S&P 1500 Super Comp indices.
, the mythical half-eagle, half-lion, was chosen, symbolizing the combined strengths of the firm's different divisions. Initially, the company made electronic products for the military and commercial markets and was 25% owned by Emerson Radio & Phonograph Corp.
In 1961, it acquired Telephonics Corporation. During the conglomerate
era in the United States, the firm's divisions grew to 18, including an automotive group, home products group, packaging group, business machine group and building products group. However, the declining appeal of conglomerates, coupled with defense cutbacks brought about by the end of the Vietnam War
, resulted in the sale of a number of the divisions during the 1970s and early 1980s. In 1986, however, with the purchase of Clopay Corporation, the firm began to expand again through acquisition.
Originally located in College Point, NY, the firm moved to Huntington, NY in 1968, to Jericho, NY, in 1980, and then to their current headquarters in New York, NY in January 2010. It conducted an initial public offering of its shares in 1968, trading on the American Stock Exchange
and moved its listing to the New York Stock Exchange in 1993.
Clopay Building Products is the largest residential garage door manufacturer and marketer in North America
and a major supplier of industrial and commercial doors for the new construction, and repair and remodel markets.
Ames True Temper, Inc. ("ATT"), acquired on September 30, 2010, is a global provider of non-powered landscaping products. Their products include long handle tools; wheelbarrows; planters and lawn accessories; snow tools; striking tools; pruning tools; garden hoses and hose reels.
Plastics develops and produces embossed and laminated specialty plastic films used in a variety of hygienic, health-care and industrial markets worldwide, including disposable baby diapers, sanitary napkins and adult incontinent products. Its products are used by, among others, Always
, Luvs
, Pampers
, and ThermaCare
.
The company's electronic information and communication systems business, Telephonics, and Telephonics' wholly owned subsidiary, Telephonics Large Scale Integration ("TLSI"), develops and produces electronic systems used in government and commercial markets worldwide, including maritime surveillance radars for anti-submarine warfare, drug interdiction, search and rescue, high altitude mapping and surveillance. Its customers include the U.S. Government, as well as other government contractors, such as Lockheed Martin
and Northrop Grumman
.
Griffon listed on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
in February 1993 and is a component stock of the S&P 600 SmallCap and S&P 1500 Super Comp indices.
History
Griffon Corporation was founded in 1959, as Waldorf Controls Corp. and changed its name later that year to Instrument Systems Corp. The company's name remained Instrument Systems until 1995 when GriffonGriffon
Griffon is a type of dog, a collection of breeds of originally hunting dogs. There are three recognized lines of the griffon type Fédération Cynologique Internationale FCI, the griffon vendéens, the wirehaired pointers, and the smousje...
, the mythical half-eagle, half-lion, was chosen, symbolizing the combined strengths of the firm's different divisions. Initially, the company made electronic products for the military and commercial markets and was 25% owned by Emerson Radio & Phonograph Corp.
Emerson Radio
Emerson Radio Corporation was founded in 1948. It is one of the United States’ largest volume consumer electronics distributors and has a recognized trademark in continuous use since 1912...
In 1961, it acquired Telephonics Corporation. During the conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
era in the United States, the firm's divisions grew to 18, including an automotive group, home products group, packaging group, business machine group and building products group. However, the declining appeal of conglomerates, coupled with defense cutbacks brought about by the end of the Vietnam War
Vietnam War
The Vietnam War was a Cold War-era military conflict that occurred in Vietnam, Laos, and Cambodia from 1 November 1955 to the fall of Saigon on 30 April 1975. This war followed the First Indochina War and was fought between North Vietnam, supported by its communist allies, and the government of...
, resulted in the sale of a number of the divisions during the 1970s and early 1980s. In 1986, however, with the purchase of Clopay Corporation, the firm began to expand again through acquisition.
Originally located in College Point, NY, the firm moved to Huntington, NY in 1968, to Jericho, NY, in 1980, and then to their current headquarters in New York, NY in January 2010. It conducted an initial public offering of its shares in 1968, trading on the American Stock Exchange
American Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
and moved its listing to the New York Stock Exchange in 1993.
Clopay Building Products- Garage Doors
Clopay Building Products is the largest residential garage door manufacturer and marketer in North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
and a major supplier of industrial and commercial doors for the new construction, and repair and remodel markets.
Ames True Temper
Ames True Temper, Inc. ("ATT"), acquired on September 30, 2010, is a global provider of non-powered landscaping products. Their products include long handle tools; wheelbarrows; planters and lawn accessories; snow tools; striking tools; pruning tools; garden hoses and hose reels.
Clopay Plastic Products- Specialty Plastic Films
Plastics develops and produces embossed and laminated specialty plastic films used in a variety of hygienic, health-care and industrial markets worldwide, including disposable baby diapers, sanitary napkins and adult incontinent products. Its products are used by, among others, Always
Always (product)
Always is a brand of feminine hygiene products, including maxi pads, pantiliners, and tampons, produced by Procter & Gamble. It was released in 1983...
, Luvs
Luvs
Luvs is a brand of disposable diapers made by Procter & Gamble. It was sold as a "deluxe" brand in the late 1980s. Since 1994 it's sold as a budget brand. The brand also has baby wipes.-Diaper sizes:...
, Pampers
Pampers
Pampers is a brand of baby products marketed by Procter & Gamble. Pampers was at one time only used as a name for a disposable diaper.-Products:...
, and ThermaCare
Thermacare
ThermaCare is the brand name of a disposable heating pad made by Pfizer Consumer Healthcare. A type of Continuous Low-level Heatwrap Therapy , ThermaCare heatwraps activate upon contact with the air, providing approximately eight hours of heat directly where the heatwrap is applied...
.
Telephonics Corporation
The company's electronic information and communication systems business, Telephonics, and Telephonics' wholly owned subsidiary, Telephonics Large Scale Integration ("TLSI"), develops and produces electronic systems used in government and commercial markets worldwide, including maritime surveillance radars for anti-submarine warfare, drug interdiction, search and rescue, high altitude mapping and surveillance. Its customers include the U.S. Government, as well as other government contractors, such as Lockheed Martin
Lockheed Martin
Lockheed Martin is an American global aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington Metropolitan Area....
and Northrop Grumman
Northrop Grumman
Northrop Grumman Corporation is an American global aerospace and defense technology company formed by the 1994 purchase of Grumman by Northrop. The company was the fourth-largest defense contractor in the world as of 2010, and the largest builder of naval vessels. Northrop Grumman employs over...
.