BLOOMFIELD HILLS, Mich., Feb. 22, 2012 /PRNewswire/ -- TriMas Corporation (NASDAQ: TRS) — a diversified manufacturer of engineered and applied products — announced today that its Rieke Packaging Systems business, a leading designer, manufacturer and distributor of highly-engineered closure and dispensing products, has continued to expand its global presence through customer wins and innovative customer solutions.
A large, global personal care product company, headquartered in the United Kingdom, recently entered into a multi-year agreement with Rieke to supply non-aerosol foamer pumps for use within personal care products. Rieke will supply the pumps in Asia, Europe and North America.
An international cosmetic company recently signed a multi-year agreement with Rieke to provide a specialized airless dispensing system that provides exact, measured dispensed liquids for use in various skin care products in its personal care market segment in Northern Europe, including the United Kingdom, Denmark, Norway and Sweden.
Innovative Molding, acquired by TriMas and integrated into Rieke in August 2011, secured a multi-year supply agreement with a chemical and household cleaning products company to provide a unique closure with measuring and drain back features for household toiletries in North America.
The business is also launching a large metered dispensing system for in-home and business office dispensing of bottled water in Latin America and Southeast Asia. The Rieke team created a more modern aesthetic design and a no drip high quality dispenser for the project.
"Each of these contracts were signed in the last few months with full production scheduled to begin in the next few quarters. Collectively, we expect these new awards to have a full revenue run rate of more than $10 million once the projects are in production," said Lynn Brooks, president of Rieke. "Our design and technical solutions provide value that is not currently available in the marketplace. Our multi-production site capabilities provide proficient delivery, and superior quality and service."
Rieke has a proven track record of creating solutions for customers in the industrial, agricultural, food, beverage, nutraceutical, personal care, pharmaceutical and medical markets.
About Rieke Packaging Systems
Headquartered in Auburn, Indiana, Rieke Packaging Systems has built its worldwide reputation on setting the standards in the packaging industry since 1921. The company is a leading manufacturer and distributor of premium-quality packaging products for the global commercial, industrial and consumer sectors. Rieke has market leadership in steel and plastic closure caps, drum enclosures, ring and levers, and specialty dispensing systems.
About TriMas
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NASDAQ: TRS) provides engineered and applied products for growing markets worldwide. TriMas is organized into six reportable segments: Packaging, Energy, Aerospace & Defense, Engineered Components, Cequent Asia Pacific and Cequent North America. TriMas has approximately 4,100 employees at more than 60 different facilities in 15 countries. For more information, visit www.trimascorp.com.
Cautionary Notice Regarding Forward-looking Statements
Any "forward-looking" statements contained herein, including those relating to market conditions or the Company's financial condition and results, expense reductions, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including, but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company's business and industry, the Company's substantial leverage, liabilities imposed by the Company's debt instruments, market demand, competitive factors, supply constraints, material and energy costs, technology factors, litigation, government and regulatory actions, the Company's accounting policies, future trends, and other risks which are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010,
and in the Company's Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.
SOURCE TriMas Corporation
