March 1, 2013
MASON, OHIO -- Clopay Plastics Products Co.'s European division will exit "certain less profitable product categories" this year in response to Europe's challenging economic climate, the company announced Feb. 25.
Instead, the company will focus on operating and growing its more profitable business lines and will invest in new capital projects to improve efficiencies.
In a March 1 phone call, a Clopay spokesman said the company was not currently discussing details of its restructuring plan.
In a news release, Clopay said it remains committed to its European business and that restructuring should lead to improved performance and future growth potential.
The company has plants in Dombühl and Aschersleben, Germany.
Clopay, based in Mason, Ohio, is a wholly owned subsidiary of Griffon Corp., a holding company headquartered in New York.
Clopay makes specialty plastic films and laminates for hygienic, health care and industrial applications. Along with its German sites, the company has facilities in Augusta, Ky., Mason and Nashville, as well as Brazil, China and Turkey.
Clopay had sales of $563 million for the fiscal year that ended Sept. 30.