BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
TriMas Corporation (NASDAQ: TRS) - a diversified global manufacturer of
engineered and applied products - announced today that it has acquired
certain assets and personnel related to Parker Hannifin's Tolleson,
Arizona facility, which manufactures complex machined parts for the
aerospace industry. The transaction closed on November 2, 2015, at which
time the facility became part of the TriMas Aerospace group.
In connection with the transaction, Martinic Engineering (a division of
TriMas Aerospace) and the Tolleson facility will continue to provide
machining and assembly of products, and prototyping, for the Fluid
Systems Division of Parker Hannifin under a long-term agreement. The
current run-rate from this transaction is expected to add approximately
$12 million to $15 million in incremental annual revenue.
"We are excited to add this world-class manufacturing operation with an
extremely talented and experienced team to our Aerospace family," said
Tom Aepelbacher, president of TriMas Aerospace. "This acquisition
demonstrates our ongoing commitment to grow our aerospace business and
significantly complements Martinic Engineering. The combination will
enhance our relationship with existing customers, provide capacity for
growth and expand our manufacturing capabilities and product offerings."
"TriMas Aerospace has been a successful supplier to Parker Aerospace,"
said Guy Martin, group vice president, Operations - Airframe & Actuation
of Parker Aerospace. "This is a natural combination and a win-win for
both organizations. We look forward to building upon this partnership in
the future."
About TriMas
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NASDAQ:
TRS) provides engineered and applied products for growing markets
worldwide. TriMas is organized into four reportable segments: Packaging,
Aerospace, Energy and Engineered Components. TriMas has approximately
4,000 employees at more than 50 facilities in 16 countries. For more
information, visit www.trimascorp.com.
About TriMas Aerospace
TriMas Aerospace, a segment of TriMas Corporation, is organized into
four businesses: Monogram Aerospace Fasteners, Allfast Fastening
Systems, Mac Fasteners and Martinic Engineering. TriMas Aerospace
designs, develops and manufactures precision engineered components
including blind bolts, fasteners, solid and blind rivets, and hydraulic
and pneumatic systems, to serve commercial aircraft companies, suppliers
and distributors, and U.S. and allied militaries. TriMas Aerospace
provides its customers with industry leading products and services that
reflect the Company's commitment to market leadership, innovation and
operational excellence. Headquartered in Los Angeles, California, these
businesses have more than 180 combined years in the aerospace industry.
For more information, visit www.trsaero.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151103006747/en/
TriMas Corporation
Christine Parker
Manager, Investor
Relations & Communications
(248) 631-5438
christineparker@trimascorp.com
Source: TriMas Corporation
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