Clopay Plastics appoints Dr. Ferdinand Pranckh as Vice President and General Manager of Clopay Europe
Clopay Plastics Products Company, Inc. (Clopay Plastics), a wholly owned subsidiary of Griffon Corporation (NYSE:GFF), has announced the hiring of Dr. Ferdinand Pranckh as its new Vice President and General Manager of Clopay Plastics Europe, effective April 15, 2013. Dr. Pranckh, with over twenty years’ experience in the plastics industry in both Europe and the United States, including several general management and senior global positions with Avery Dennison, has an extensive background leading customer centric, high performance organizations.
“We are very pleased to have a person of Ferdinand’s caliber joining our senior leadership team,” said Alan Koblin, Clopay Plastics’ President. “Ferdinand brings a wealth of talent and experience to Clopay Plastics. We are confident that he will lead significant improvement in our European business, which has underperformed in recent years.”
This management change follows Clopay Plastics’ announcement in February of the restructuring of its European business. At that time, Clopay Plastics indicated it would be exiting certain less profitable businesses while investing in several capital projects to improve both operating and material efficiencies.
About Clopay Plastics
Clopay Plastics produces and develops specialty plastic films and laminates for a variety of hygienic, health care and industrial uses in the United States and certain international markets. Products include thin gauge embossed and printed films, elastomeric films and laminates of film and nonwoven fabrics. These products are used primarily as moisture barriers in disposable infant diapers, adult incontinence products and feminine hygiene products, as protective barriers in single-use surgical and industrial gowns, drapes and equipment covers, as packaging for hygienic products, house wrap and other products. Clopay Plastics’ products are sold through a direct sales force primarily to multinational consumer and medical products companies.
About Griffon Corporation
Griffon Corporation (the “Company” or “Griffon”), headqum1ered in New York, N.Y., is a diversified management and holding company that conducts business through wholly-owned subsidiaries. The Company oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. The Company provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital to further diversify itself.
Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Certain statements other than statements of historical fact included in this release are 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. Information concerning risks and uncertainties that may impact the company’s results and forward-looking statements are set forth in Griffon Corporation’s filings with the SEC. 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.
