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Telephonics Corporation Coming to EC Air Park

Mar 16, 2009 - Telephonics Corporation, a wholly
owned subsidiary of the Griffon Corporation (NYSE:GFF), announced today that it has entered into a long-term agreement with the Elizabeth City-Pasquotank County Regional Airport to establish the Telephonics Technical Support Services Business in Elizabeth City, N.C.

Headquartered in Farmingdale, N.Y., Telephonics provides integrated information, communication and sensor system solutions to military and commercial markets worldwide.

The corporation plans to construct a 22,000 square-foot facility, including a hangar, office space and equipment repair facilities on the airport property. The proximity of this facility to the U.S. Coast Guard's Air Logistics Center will enhance the support to the Coast Guard, while making a valuable contribution to the local community.

"We are very excited about establishing a presence with Telephonics’ Technical Support Services at the Elizabeth City Airport," said Joseph Battaglia, president of Telephonics Corporation. "Our co-location with the U.S. Coast Guard Air Logistics Center will provide for the long-term technical support needed to ensure mission readiness of many critical Coast Guard assets."

The Elizabeth City-Pasquotank County Regional Airport shares a 7,200-foot runway with Air Station Elizabeth City and its Aviation Logistics Center, the nation's only depot-level maintenance facility for the entire U.S. Coast Guard aircraft fleet.

"The company's decision to locate a technical support facility here is a further indication of the strategic and business value of our partnership with the U.S. Coast Guard," said Wayne Perry, chairman of the Airport Authority.

Telephonics is the second business to locate near the U.S. Coast Guard base since Elizabeth City and Pasquotank County officials broke ground in October 2008 on the Elizabeth City-Pasquotank Aviation Research and Development Commerce Park. Earlier this year, DRS Technologies opened a second 80,000 square-foot hangar adjacent to the airport and across the street from the park.

"It is very exciting," said Wayne Harris, director of the Albemarle Economic Development Commission. "To have a second company involved more in avionics than in overhaul is a nice bit of diversification. It validates the whole premise of the aviation park."

Telephonics will not be located inside the air park area, according to Scott Hinton, airport manager. The firm will lease 2.5 acres from the authority on the west side of Consolidated Road. Hinton said the tract is some of the last unused land remaining on that side of the fence.

The location is necessary for Telephonics to test the company's radar equipment using regular flights, which Hinton said is ideally done inside the airport grounds.

Hinton attributes Telephonics' interest in the area to the U.S. Coast Guard's Aviation Logistics Center and the buzz created by the Aviation Research and Development Commerce Park. The park itself is more ideal for overhaul work carried out by companies such as DRS Technologies, which currently has two hangars on land leased from the airport authority.

Telephonics manufactures and maintains the radar on the CASA aircraft flown by the Coast Guard.

No date has been set for construction of the Telephonics facility, but Hinton said company officials currently are selecting architects and a construction company to begin work. "I think they've got a fairly aggressive time line," Hinton said.

Upon completion, the 63-acre Elizabeth City-Pasquotank Aviation Research and Development Commerce Park will connect the runway shared by the Coast Guard and the Elizabeth City-Pasquotank Regional Airport with a taxiway capable of accommodating C-130-sized aircraft and larger. Phase I of the park will include as many as four hangars, the Elizabeth City State University (ECSU) School of Aviation Science and a College of the Albemarle facility for conducting its Air Frame/Air Plant maintenance certification programs.

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About Telephonics

A subsidiary of Griffon Corporation, Telephonics' (www.telephonics.com) 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. The company is headquartered in Farmingdale, N.Y.

About AEDC

Located in Elizabeth City, N.C., the Albemarle Economic Development Commission (www.discoverec.com) markets business opportunities in the City of Elizabeth City and Pasquotank and Camden counties to prospective employers throughout the United States. For information, call the AEDC at 1-888-338-1678 or (252) 338-0169.

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