Griffon Unit Selected to Provide Radar Systems for the U.S. Coast Guard's Deepwater ProgramUnmanned Aerial Vehicle and Maritime Patrol Aircraft to Receive Radar Systems
FARMINGDALE, N.Y.--Feb. 8, 2005
The Global Man-Portable Military Electronics Market 2013-2023
Telephonics Corporation, a wholly owned subsidiary of the Griffon Corporation (NYSE: GFF), received two contract awards valued in excess of $7.3 million from Lockheed Martin to develop radar systems for the United States Coast Guard's CN-235 Maritime Patrol Aircraft and the HV-911 Vertical Takeoff Unmanned Aerial Vehicle.
The first contract award is for development of an advanced version of Telephonics' APS-143 radar, designated the APS-143C(V)3. When fielded, this high performance radar will be a major element of the CN-235 Maritime Patrol Aircraft. This flexible and versatile mission system can be adapted to any other fixed wing aircraft utilized by the Coast Guard.
The second contract award is for a customized version of Telephonics' RDR-1700B lightweight imaging radar, which will be integrated on the Coast Guard's HV-911 Vertical Takeoff Unmanned Aerial Vehicle. Designated the RDR-1700CG, this radar is unprecedented in its capability, as it will enable the HV-911 to avoid other aircraft while providing maritime surveillance, weather avoidance, and search and rescue capabilities.
The contract awards span an eighteen-month time period, covering system development, non-recurring engineering, and the first engineering development models for the CN-235 MPA and the HV-911. Both platforms will fulfill critical maritime surveillance missions related to homeland defense.
"Telephonics is proud to have been selected as the maritime surveillance radar supplier of choice for these Coast Guard programs", said Joseph J. Battaglia, President of Telephonics Corporation. "The awards help us lay the foundation for support of future Coast Guard maritime radar-based initiatives." Work on these programs will be performed at the Telephonics facilities in Farmingdale and Huntington, New York.
Telephonics is a subcontractor to Lockheed Martin Maritime Systems & Sensors business, a partner in Integrated Coast Guard Systems (ICGS), a joint venture of Lockheed Martin and Northrop Grumman. In June 2002, the U.S. Coast Guard awarded the Deepwater contract to ICGS. Deepwater is a critical multi-year, multi-billion dollar program to modernize and replace the Coast Guard's aging ships and aircraft, and improve command and control and logistics systems. It is the largest recapitalization effort in the history of the Coast Guard.
About Telephonics Corporation
A subsidiary of Griffon Corporation (NYSE: GFF), Telephonics' (www.telephonics.com) broad based, high-tech engineering capabilities provide integrated information and communication systems solutions to both domestic and international markets. The company is organized into two operating divisions: Communications Systems, specializing in aircraft intercommunications, mass transit communications, wireless and audio products; and Command Systems, specializing in traffic management systems, maritime surveillance radar and aerospace electronics; and one wholly-owned subsidiary, TLSI. Operating under the Telephonics umbrella, TLSI (www.tlsi.com) manufactures application-specific integrated circuits (ASIC) for the telecommunications, automotive and industrial security markets.
About Griffon Corporation
In addition to developing and manufacturing information and communication systems for government and commercial markets worldwide, Griffon Corporation is also a leader in the development and production of embossed and laminated specialty plastic films used in the baby diaper, feminine napkin, adult incontinent, surgical and patient care markets. Griffon Corporation is also a leading manufacturer and marketer of residential, commercial and industrial garage doors sold to professional installing dealers and major home center retail chains. Through a substantial network of operations located throughout the country, Griffon's building products company also installs and services specialty building products, primarily garage doors, openers, fireplaces and cabinets for new construction markets.
Forward Looking Statements
``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: All statements other than statements of historical fact included in this release, including without limitation statements regarding the company's financial position, business strategy and the plans and objectives of the company's management for future operations, are forward-looking statements. When used in this release, words such as ``anticipate,'' ``believe,'' ``estimate,'' ``expect,'' ``intend,'' and similar expressions, as they relate to the company or its management, identify 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 as a result of certain factors, including but not limited to, business and economic conditions, competitive factors and pricing pressures, capacity and supply constraints. Such statements reflect the views of the company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the company. Readers are cautioned not to place undue reliance on these forward-looking statements. 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.
(C) 2005 Telephonics Corporation. 815 Broad Hollow Road, Farmingdale, NY 11735. All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.
Source : Telephonics