Gabelli reports stake in Clopay's parent - Business Courier of Cincinnati:

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percent stake, or 1.6 million shares, in , according to a filing with the . The filing followa others reports last week by affiliate that it has increased its stakd in Griffon to almost 16 or 4.6 millions shares, and by that it has a 5.1 percen stake, or 1.5 million shares. Griffomn is the parent of Mason-basedx , a maker of Clopay garagd doors and specialty plastic films used in disposabler diapers andother products.
is a majorf customer of the plastic film Gabelli has stepped up its acquisitionof Griffon'sw shares as its stock prics has fallen from more than $12 at the end of 2007 to as low as $9 this The company's sales and profits have been hurt by the slumpo in new housing constructionj and a simultaneous slowdown in garag door replacement sales. The company said earlier this montg it's continuing to focus on cost reductionprogramas "including, but not limited to, reductions in reducing or eliminating certaihn sales and marketing programs and consolidatingy facilities where possible.
" Griffon came under pressured from investors last year, before the bottoj dropped out of the housing to separate its Clopay operations from its defenses electronics subsidiary that's based At the time, it hired Goldman Sachs to advise it on strategic alternatives but late r said that deteriorating market conditions had limited its