Industrials
Griffon Subsidiary Receives $7 Million Navy Work
FARMINGDALE, N.Y. (AP) — A subsidiary of Griffon Corp., a communications and electronic information business, said Monday it has received a $6.9 million contract to manufacture communications support systems for U.S. Navy helicopters.
Subsidiary Telephonics Corp. received the contract from the Lockheed Martin Systems Integration-Owego business unit. The equipment will be delivered in early 2011, Telephonics said. The contract calls for the production and delivery of special test equipment to support the Navy's helicopter communication systems and allows the U.S. Navy to conduct fleet repairs for the helicopters. The equipment will be delivered to the Navy's Fleet Resource Center Southwest, which plans to have the test capability operating in early 2011. The equipment supports Telephonics communication systems on the Navy's MH-60R and MH-60S multi-mission helicopters for flight and support crew communications management. The contract also includes training Navy personnel to repair the systems and equipment. Shares of Griffon jumped 60 cents, or nearly 6 percent, to $10.80 in afternoon trading.TheStreet Premium Services
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