“With the recent Congressional legislation allowing unmanned aircraft in the national airspace, our retooling and large capital equipment investments are key to meeting the upcoming market demand.”, suggested French.
Madison, AL (PRWEB) May 01, 2012
This week Griffon Aerospace received Dunn and Bradstreet’s highest possible rating for its Business Category. Griffon is a company that has grown through solid financial practices and a zero debt philosophy. Larry French Griffon’s CEO said “this rating is especially gratifying having just completed the largest capital investment in company history”. French said “Our biggest investment was in a large 5 axis router allowing us to quickly go from design to finished tooling in a matter of weeks”. “Our capital investment program also included completely retooling for our next generation of target drones including high speed variations and commonality with a new class of Tactical Unmanned Aircraft,” French said.
Griffon generated revenues primarily from prime contracts with the Army and Navy which have resulted in over 3,000 drones and unmanned air vehicles being manufactured, placing Griffon among the highest volume manufacturers of unmanned air vehicles in the United States. Last Year, Griffon booked over 15,000 flight services around the world for military customers and is on track this year to provide over 20,000 hours. “With the recent Congressional legislation allowing unmanned aircraft in the national airspace, our retooling and large capital equipment investments are key to meeting the upcoming market demand,” suggested French.
French emphasized that “A key component of Griffon’s business strategy is leveraging our high volume drone composite manufacturing in to an innovative low cost class of UAVs for military and commercial applications”. French concluded by saying, “In a burgeoning market like UAVs most competitors in our business class are highly leveraged and only forecasting profits, as a privately held company we feel blessed to be completely retooled and in top financial condition.”
Griffon, a privately held Madison Alabama based small business, designs, develops, and manufactures composite structures for Unmanned Aerial Vehicles (UAV), space applications, and aerial targets. For more information see our website at http://www.griffon-aerospace.com.