Griffon reports share buyback; company to seek alternatives

By Lisa Kerner

Charlotte, N.C. Aug. 6 - Griffon Corp. used $987,000 to purchase 45,000 shares of its common stock under its buyback program during the second quarter. The company released its quarterly earnings on Monday.

In addition, the company said that "due to present conditions in the residential housing and credit markets, options that would increase shareholder value are being explored but are not attractive at this time."

Goldman, Sachs & Co. was hired to assist Griffon in evaluating its business and capital structure, as well as potential strategic alternatives for the Jericho, N.Y., diversified manufacturing company.

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