Market Overview

Griffon Corporation Announces $50mm Share Buyback Authorization


The Board of Directors of Griffon Corporation (NYSE:GFF) (the "Company"
or "Griffon") authorized the repurchase of an additional $50 million of
Griffon's outstanding common stock. Accordingly, Griffon now has a total
of $58.3 million available for the purchase of its shares of common
stock, including $8.3 million available under the August 2016 Board

About Griffon Corporation

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.

Headquartered in New York, N.Y., the Company was founded in 1959 and is
incorporated in Delaware. Griffon is listed on the New York Stock
Exchanges and trades under the symbol GFF.

Griffon currently conducts its operations through two reportable

  • 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
      America and, 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

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