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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                               ___________________

                                    FORM 8-K

                                 Current Report

                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934

                                 August 11, 2004
                Date of Report (Date of earliest event reported)

                               TRIMAS CORPORATION

             (Exact name of registrant as specified in its charter)

             Delaware                    333-100351           38-2687639
  (State or other jurisdiction of       (Commission        (I.R.S. Employer
  incorporation or organization)        file number)      Identification No.)

                          39400 Woodward Ave., Ste. 130
                           Bloomfield Hills, MI 48304
                    (Address of principal executive offices)
                                 (248) 631-5450

                    (Registrant's telephone number, including
                                   area code)
                                 Not Applicable
          (Former name or former address, if changed since last report)





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Item 7. Exhibits. (c) Exhibits. The following exhibit is filed herewith: Exhibit No. Description 99.1 TriMas Corporation (the "Company") visual presentation titled "Second Quarter 2004 Earnings Review," available at http://www.trimascorp.com. 99.2 Press Release Item 12. Results of Operations and Financial Condition. The Company's only public securityholders are holders of its 9 7/8% senior subordinated notes due 2012. The Company issued a press release and held a teleconference on August 11, 2004 reporting its financial results for the second quarter and first six months for the fiscal year 2004. Audio replay of the teleconference will be accessible for at least five business days from the date of the teleconference and a copy of the visual presentation that was used for the teleconference has been available at www.trimascorp.com. -1-

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Dated: August 17, 2004 TRIMAS CORPORATION By: /s/ Benson K. Woo ------------------------------------- Name: Benson K. Woo Title: Chief Financial Officer -2-

EXHIBIT INDEX Exhibit 99.1 Presentation Materials Exhibit 99.2 Press Release -3-

                                                                    Exhibit 99.1

[Slide 1]
TriMas Corporation Logo
A Heartland Industrial Partners' Company
Second Quarter 2004 Earnings Review Conference Call
August 11, 2004

[Slide 2]
Safe Harbor Statement:
This document contains "forward-looking" statements, as that term is defined by
the federal securities laws, about our financial condition, results of
operations and business. Forward-looking statements include certain anticipated,
believed, planned, forecasted, expected, targeted and estimated results along
with TriMas' outlook concerning future results. The words "estimates,"
"expects," "anticipates," "projects," "plans," "intends," "believes,"
"forecasts," or future or conditional verbs, such as "will," "should," "could,"
or "may," and variations of such words or similar expressions are intended to
identify forward-looking statements. All forward-looking statements, including,
without limitation, management's examination of historical operating trends and
data are based upon our current expectations and various assumptions. Our
expectations, beliefs and projections are expressed in good faith and we believe
there is a reasonable basis for them. However, there can be no assurance that
management's expectations, beliefs and projections will be achieved. These
forward-looking statements are subject to numerous assumptions, risks and
uncertainties and accordingly, actual results may differ materially from those
expressed or implied by the forward-looking statements. We caution readers not
to place undue reliance on the statements, which speak only as of the date of
this document. The cautionary statements set forth above should be considered in
connection with any subsequent written or oral forward-looking statements that
we or persons acting on our behalf may issue. We do not undertake any obligation
to review or confirm analysts' expectations or estimates or to release publicly
any revisions to any forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the occurrence of
unanticipated events. Risks and uncertainties that could cause actual results to
vary materially from those anticipated in the forward-looking statements
included in this document include general economic conditions in the markets in
which we operate and industry-based factors such as: technological developments
that could competitively disadvantage us, increases in our raw material, energy,
and healthcare costs, our dependence on key individuals and relationships,
exposure to product liability, recall and warranty claims, compliance with
environmental and other regulations, and competition within our industries. In
addition, factors more specific to us could cause actual results to vary
materially from those anticipated in the forward-looking statements included in
this document such as our substantial leverage, limitations imposed by our debt
instruments, our ability to successfully pursue our stated growth strategies and
opportunities, including our ability to identify attractive and other strategic
acquisition opportunities and to successfully integrate acquired businesses and
complete actions we have identified as providing cost-saving opportunities.

[Slide 3]
Agenda

     o  2004 Second Quarter Financial Highlights
     o  2004 Second Quarter Operating Highlights
     o  2004 Second Quarter Financial Performance

o TriMas Capitalization o 2004 Key Performance Drivers o Q&A o Appendix [Slide 4] 2004 Second Quarter Financial Highlights o TriMas had sales of $284.2 million, representing an increase of $34.0 million or 13.6% over 2003. o Second quarter net income was $10.3 million, or $0.51 per share, representing a significant improvement over 2003 second quarter's net loss of $1.4 million, or $(0.07) per share. o Operating profit increased $16.5 million to $33.0 million and approximated 11.6% of sales. o Total Company Adjusted EBITDA increased $8.2 million to $42.9 million, or 23.6% compared to a year ago. o Earnings reflect the absorption of $5.4 million in costs from direct and indirect steel-related issues. o TriMas ended the quarter with $759.8 million of debt and borrowings on its receivables securitization facility of $48.3 million, reflecting the Company's sales growth and investment in working capital. o The Company's bank LTM EBITDA was $160.1 million which supports our lending ratios: - The Company's leverage ratio was 5.05x vs. the leverage covenant of 5.50x. - The interest coverage ratio was 2.59x vs. the interest coverage covenant of 2.25x. o TriMas had $5.8 million in cash at quarter end. [Slide 5] 2004 Second Quarter Operating Highlights During the second quarter, TriMas realized the benefits of continuing overall macro-economic expansion and operational initiatives. o Cequent Transportation Accessories - Net sales for the quarter improved to $150.6 million, a 19.5% increase from the prior year. - Operating profit improved to $25.0 million, an increase of 72.4%, while Segment Adjusted EBITDA was $29.9 million, an increase of 53.3% compared to the prior year. - Initial strong order activity in all channels; late quarter slowing in installer and WD channels - Continued order fill improvements in retail, installer and WD channels - Goshen, IN and Reynosa, Mexico performance step-change continues - Inventory build in all channels - steel price and distribution optimism drivers - New product introductions on plan - Trailer Products' integration & Wausau closure complete; Mosinee, WI and Juarez, Mexico performance improvements continue -2-

- Distribution restructuring on track; South Bend, IN distribution center now in commercial mode - Oakville, Ontario manufacturing closure announced; distribution consolidation planning underway - Cequent's strategic value proposition continues to have great support across all channels served [Slide 6] 2004 Second Quarter Operating Highlights o Rieke Packaging Systems - Net sales for the quarter were $34.7 million, up 4.8% compared to the prior year. Adjusted for a one-time government order in Q2-03, revenues increased by 8%. o Core products sales volume increased by 4.0% while new product revenues were up 62% in the month of June. - Segment Adjusted EBITDA was $11.6 million, an improvement of 12.6% compared to the prior year. - Operating income increased to $9.3 million from $8.4 million. - Customer commitments in Q2-04 for new products introduced in 2004 total $3.2 million on FRR. - Currently working on incremental revenue projects for Hamilton and China facilities totaling $19 million FRR. - Segment Adjusted EBITDA margins improved to 33.4% from 31.1% despite absorbing steel price increases. o Fastening Systems - Net sales for the quarter were $37.0 million, flat compared to the prior year. - Improved demand for aerospace fasteners, mainly in military and commercial aircraft spending, resulted in a 14.6% increase in year-over-year second quarter sales at Monogram. - Industrial fastening demand remains very strong due to Class 8 truck and off-road/agricultural machinery. - Steel availability and cost increases negatively impacted results in Q2 by about $2.4 million. Industrial fasteners unshipped order backlog increased to $5.0 million. Steel issues are expected to remain critical during the second half. - Lakewood, OH closure is scheduled for the end of Q3. [Slide 7] 2004 Second Quarter Operating Highlights o Industrial Specialties - Net sales for the quarter were $61.9 million, an increase of 13.4% over the prior year second quarter. - Strong revenue growth continues across all SBU's, mainly driven by economic expansion and market share gains. - Lamons is benefiting from very strong increase in demand (+30%) at Exxon and the continuation of a new Dow contract. -3-

- Compac consolidation is progressing well. All office activity and half of the machinery have been relocated, and remaining equipment is on schedule for completion in Q4. -4-

[Slide 8] ($ in millions) Three Months Ended June 30 Six Months Ended June 30 Net Sales 2004 2003 Variance 2004 2003 Variance - --------- ---- ---- -------- ---- ---- -------- Cequent Transportation Accessories... $ 150.6 $ 126.0 19.5% $ 280.1 $ 224.8 24.6% Rieke Packaging Systems.............. $ 34.7 $ 33.1 4.8% $ 65.1 $ 63.4 2.7% Fastening Systems.................... $ 37.0 $ 36.5 1.4% $ 75.6 $ 71.5 5.7% Industrial Specialties............... $ 61.9 $ 54.6 13.4% $ 124.3 $ 108.4 14.7% ---------- ---------- --------- ---------- ---------- --------- Total Net Sales................... $ 284.2 $ 250.2 13.6% $ 545.1 $ 468.1 16.4% Adjusted EBITDA (1) Cequent Transportation Accessories... $ 29.9 $ 19.5 53.3% $ 48.6 $ 31.9 52.4% Rieke Packaging Systems.............. $ 11.6 $ 10.3 12.6% $ 20.1 $ 19.8 1.5% Fastening Systems.................... $ (1.2) $ 1.3 N/A $ (1.1) $ 5.0 N/A Industrial Specialties............... $ 8.6 $ 7.6 13.2% $ 18.1 $ 16.0 13.1% ---------- ---------- --------- ---------- ---------- --------- Segment Adjusted EBITDA........... $ 48.9 $ 38.7 26.4% $ 85.7 $ 72.7 17.9% % Margin....................... 17.2% 15.5% 1.7% 15.7% 15.5% 0.2% Corporate operating expenses and management fee.................... $ (5.3) $ (4.4) 20.5% $ (11.0) $ (8.8) 25.0% Corporate other income (expense)..... $ (0.7) $ 0.4 N/A $ (1.2) $ 0.5 N/A Total Company Adjusted EBITDA..... $ 42.9 $ 34.7 23.6% $ 73.5 $ 64.4 14.1% % Margin....................... 15.1% 13.9% 1.2% 13.5% 13.8% (0.3%) Memo Items: Restructuring, consolidation and integration costs (2)............. $ (4.4) $ (5.2) $ 0.8 $ (9.8) $ (8.6) $ (1.2) ---------- ---------- --------- ---------- ---------- --------- Legacy stock award expense........... $ -- $ (1.2) $ 1.2 $ -- $ (2.5) $ 2.5 ---------- ---------- --------- ---------- ---------- --------- (1) The Company has established Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") as an indicator of our operating performance and as a measure of our cash generating capabilities. The Company defines "Adjusted EBITDA" as net income -5-

before interest, taxes, depreciation, amortization, impairment of goodwill, non-cash losses on sale-leaseback of property and equipment, and legacy stock award expense. (2) Represents certain charges related to our consolidation, restructuring and integration activities intended to eliminate duplicative costs or achieve cost efficiencies related to integrating acquisitions or other restructurings related to expense reduction efforts. Such costs are not eliminated in the determination of Company Adjusted EBITDA, however we would eliminate these costs to better evaluate our underlying business performance. -6-

[Slide 9] 2004 Second Quarter Financial Performance o Total company net sales increased 13.6% from 2003 to 2004. Adjusting for the acquisition of Bargman, we experienced a healthy 12.4% sales growth rate. o Operational efficiencies improved as top line revenue recovered. o We absorbed $2.5 million in net, unrecovered surcharges on steel purchases in Q2. - Implemented cost pass-throughs on steel surcharges and anticipate recovery of 85% of surcharges during the full year 2004. o Also absorbed additional $2.9 million earnings impact during Q2 due to manufacturing inefficiencies and lost sales resulting from shortages of steel. o Restructuring, consolidation and integration costs of $4.4 million in the quarter related primarily to: - Plant closure and restructuring activities within Fastening Systems; - Consolidation of Compac's operations in our new facility in Hackettstown, NJ [Slide 10] ($ in millions) - --------------------------------------------------- ------------------ ------------------ 30-Jun-04 % of Total - --------------------------------------------------- ------------------ ------------------ Cash and Cash Equivalents..................... $5.8 - --------------------------------------------------- ------------------ ------------------ Working Capital Revolver...................... $33.0 2.8% Term Loan B................................... $290.4 25.0% Other Debt.................................... $0.3 0.0% Subtotal, Senior Secured Debt............ $323.7 27.8% 9.875% Senior Sub Notes due 2012.............. $436.1 37.5% - --------------------------------------------------- ------------------ ------------------ Total Debt................................. $759.8 65.3% - --------------------------------------------------- ------------------ ------------------ - --------------------------------------------------- ------------------ ------------------ Total Shareholders' Equity................. $403.2 34.7% - --------------------------------------------------- ------------------ ------------------ - --------------------------------------------------- ------------------ ------------------ Total Capitalization....................... $1,163.0 100.0% - --------------------------------------------------- ------------------ ------------------ Memo: A/R Securitization..................... $48.3 - --------------------------------------------------- ------------------ ------------------ Total Debt + A/R Securitization............ $808.1 - --------------------------------------------------- ------------------ ------------------ Key Ratios: Bank LTM EBITDA............................... $160.1 Coverage Ratio................................ 2.59x Leverage Ratio................................ 5.05x - --------------------------------------------------- ------------------ ------------------ Second Quarter 2004 Update: -7-

o TriMas had $5.8 million of cash and cash equivalents at June 30, 2004. o The Credit Agreement leverage ratio was 5.05x Bank LTM EBITDA at June 30, 2004. [Slide 11] 2004 Key Performance Drivers o Focus on earnings expansion through completion of integration activities, organic growth initiatives, and debt reduction. - Increase operational margins via incremental productivity improvements - Manage steel pricing and supply issues to mitigate impact to operating earnings o Evolving focus within TriMas to revenue growth through new product launches and market development vs. integration and restructuring initiatives. - Finalize the closure of Fastening Systems' Lakewood, OH facility and the legacy HammerBlow Wausau, WI facility and start-up of Compac's new Hackettstown, NJ facility. o Seek to broaden "core" businesses via aggressive product and market development initiatives combined with selective acquisitions. o Continue to expand capabilities internationally. o Capitalize on benefits of key operational and strategic initiatives and overall strengthening of the US economy to achieve additional momentum across all four of TriMas' business segments. [Slide 12] Q&A [Slide 13] Appendix [Slide 14] Cash Flow Highlights ($ in millions) 2004 2003 -------- -------- Cash provided by operating activities.........................$7.5 $6.5 -------- -------- Capital expenditures........................................($26.9) ($10.4) Proceeds from sales of fixed assets...........................$0.2 $68.0 Acquisition of businesses, net of cash acquired..............($5.5) ($205.8) -------- -------- Cash used for investing activities..........................($32.2) ($148.2) -------- -------- Proceeds from senior credit facility, net....................$31.6 $73.6 Payments on notes payable and other..........................($7.9) ($2.3) Proceeds from sales of common stock, net......................$0.0 $15.0 Metaldyne financing items, net................................$0.0 ($22.7) -------- -------- -8-

Cash provided by financing activities........................$23.7 $63.6 -------- -------- Net change in cash and cash equivalents......................($1.0) ($78.1) ======== ======== [Slide 15] Condensed Balance Sheet ($ in millions) June 30, December 31, 2004 2003 ----------------- ------------------ Assets Current assets: Cash and cash equivalents $5,810 $6,780 Receivables 131,670 118,970 Inventories 147,750 124,090 Deferred income taxes 10,980 10,900 Prepaid expenses and other current assets 9,290 8,440 ----------------- ------------------ Total current assets 305,500 269,180 Property and equipment, net 201,640 187,420 Goodwill 656,890 658,900 Other intangibles 316,220 322,750 Other assets 60,260 61,780 ----------------- ------------------ Total assets $ 1,540,510 $ 1,500,030 ================= ================== Liabilities and Shareholder's Equity Current liabilities: Current maturities, long-term debt $ 3,170 $ 10,920 Accounts payable 118,140 94,130 Accrued liabilities 66,580 75,100 Due to Metaldyne 210 4,400 ----------------- ------------------ Total current liabilities 188,100 184,550 Long-term debt 756,590 725,060 Deferred income taxes 150,610 149,030 Other long-term liabilities 35,530 37,770 Due to Metaldyne 6,480 6,960 ----------------- ------------------ Total liabilities 1,137,310 1,103,370 ----------------- ------------------ Total Shareholders' Equity $403.2 $396.7 Total Liabilities and Shareholders' Equity $1,540.5 $1,500.1 ----------------- ------------------ [Slide 16] Condensed Statement of Operations (in millions, except per share amounts) For the Three Months Ended June 30, 2004 2003 Net Sales $ 284.2 $250.2 Cost of Sales (206.9) (184.6) -9-

Gross Profit 77.3 65.6 Selling, general and administrative expenses (44.4) (43.1) Gain (loss) on disposition of property & equipment 0.1 (6.0) Operating Profit 33.0 16.5 Other expense, net (16.7) (16.3) Income before income taxes 16.3 0.2 Income taxes (6.0) (1.6) Net Income (loss) $10.3 $(1.4) Basic earnings (loss) per share $ 0.51 $ (0.07) Diluted earnings (loss) per share $ 0.51 $ (0.07) Weighted average common shares - basic 20.0 19.9 Weighted average common shares - diluted 20.3 19.9 -10-

                                                                    Exhibit 99.2

[TriMas Corporation Logo
For more information, contact:

Benson Woo
Chief Financial Officer
TriMas Corporation
248-631-5453

MEDIA RELEASE

         TRIMAS CORPORATION REPORTS SALES UP 13.6% AND OPERATING PROFITS
                             JUMP IN SECOND QUARTER

BLOOMFIELD HILLS, Mich. - August 11, 2004 - TriMas Corporation today announced
its financial results for the three months ended June 30, 2004. Compared to the
prior year second quarter period, sales increased 13.6%, operating profit jumped
to $33.0 million from $16.5 million, and net income was $10.3 million versus a
$1.4 million loss in the year ago period. Diluted earnings per share were $0.51
versus a loss per share of $0.07 in the second quarter of 2003.

Second Quarter Highlights

o    The Company's second quarter net sales increased 13.6% from $250.2 million
     to $284.2 million.

o    Operating profit in the quarter increased from $16.5 million to $33.0
     million and approximated 11.6% of net sales.

o    The Company earned net income for the quarter of $10.3 million, or $0.51
     per share, compared to a net loss of $1.4 million, or $0.07 per share, a
     year ago.

o    Second quarter results reflect the absorption of $2.5 million in net,
     unrecovered price increases from steel suppliers, as well as an estimated
     $2.9 million earnings impact of manufacturing inefficiencies and lost sales
     resulting from the unavailability of steel.

o    The Company spent $4.4 million during the quarter in consolidation,
     restructuring and integration efforts, principally in its Fastening Systems
     and Industrial Specialties groups.


"Our momentum from late 2003 is continuing through the first half of 2004.
Improved business conditions, new products, and the execution of performance
initiatives helped to



Exhibit 99.2 achieve a solid quarter for all of our business segments, notwithstanding the environment for steel," said Grant Beard, President and Chief Executive Officer. Second Quarter Financial Summary (In millions, except per share amounts and percentages) For the Quarter Ended June 30, 2004 June 30, 2003 % Change Sales $ 284.2 $ 250.2 13.6% Gross profit 77.4 65.6 18.0% Operating profit 33.0 16.5 100.0% Net income (loss) $ 10.3 $ (1.4) N/A Earnings (loss) per share $ 0.51 $ (0.07) N/A Other Data - -Depreciation and amortization $ 10.3 $ 11.7 (12.0%) - -Other income/expense $ (0.4) $ (0.3) N/A - -Adjusted EBITDA $ 42.9 $ 34.7 23.6% - -Cash flows used operating activities $ (14.2) $ (41.3) N/A The Company's quarterly earnings include the adverse impact of approximately $2.5 million pre-tax in net, unrecovered surcharges from steel suppliers. The Company has implemented cost pass-throughs to customers on the steel surcharges, and currently anticipates recovering over 85% of the steel surcharges during the full year. In addition to steel price issues, lack of steel also constrained manufacturing efficiencies and sales, and depressed earnings by an estimated $2.9 million pre-tax during the quarter. Adjusted EBITDA improved 23.6% to $42.9 million for the quarter ended June 30, 2004 compared to the same period a year ago as the benefits of increased sales volumes and higher operational efficiencies more than offset the impact of steel-related issues and increased lease expense of $1.6 million related to financing activities. The Company also had reduced non-recurring charges of $0.8 million from 2003 related to restructuring and integration activities. Segment Results Rieke Packaging Systems Group

Exhibit 99.2 Rieke's second quarter sales of $34.7 million were up 4.8% compared to the year ago period. Operating profit increased during the quarter to $9.3 million from $8.4 million, due to ramp-ups of new products as well as improved core product sales. Rieke launched another five new products during the quarter, and expects to realize continued increasing sales from recent new product launches during the balance of the year. Cequent Transportation Accessories Group Cequent's second quarter sales of $150.6 million represented an improvement of 19.5% compared to the prior year period. Cequent experienced strong demand across all of its business units reflecting solid organic growth due to improved consumer demand and overall economic conditions. In particular, Cequent's Towing Products business continued to capitalize on increased demand, improved order fill rates and delivery performance at its Goshen, IN manufacturing operations. Cequent's operating margin improved to 16.6% as second quarter operating profit increased to $25.0 million from $14.5 million a year ago. Industrial Specialties Group Sales of the Industrial Specialties Group increased 13.4%, or $7.3 million to $61.9 million, during the quarter as all of the group's six businesses experienced good demand and increased sales levels compared to the second quarter a year ago. The group's quarterly operating profit increased 19.3%, or $1.1 million to $6.8 million, despite steel-related issues. Compac continues to increase its presence in the residential facings market, and is on schedule to complete the move to its new Hackettstown, NJ plant during the fourth quarter. Fastening Systems Group Sales of the Fastening Systems Group were approximately flat compared to 2003 second quarter levels at $37.0 million. While aerospace fastener sales experienced an increase of 14.6%, industrial fastener sales were flat as steel availability issues restricted production output. The group reported an overall operating loss for the quarter of $2.8 million, an improvement of $3.6 million from the $6.4 million operating loss in the second quarter of 2003. This change was due to a loss of $5.3 million related to the sale/leaseback of equipment in the quarter a year ago, offset in the current year's quarter by the impact of unrecovered steel price increases, steel availability which constrained production and sales, and closure and other costs

Exhibit 99.2 related to the consolidation of its Lakewood, OH plant into remaining facilities in Frankfort, IN and Wood Dale, IL. Steel-related issues depressed operating results by an estimated $2.0 million while consolidation-related costs approximated $2.0 million. The Fastening Systems Group's restructuring activities are expected to be completed this year. Financial Position TriMas ended the second quarter with total assets of $1,540.5 million, debt of $759.8 million, and $48.3 million outstanding under its receivables securitization facility. The increase in amounts outstanding under our credit facilities during the first six months in 2003 is due to increased working capital requirements to support higher sales levels, particularly at Cequent during the spring selling season, increased capital spending compared to the prior year's first half, accelerated payment terms required by our steel suppliers and the January acquisition of Bargman. Net cash provided by operating activities for the six months ended June 30, 2004 was $ 7.5 million compared to $ 6.6 million in the same period a year ago, as the impact of improvement in net income from operations was largely offset by the aforementioned increase in working capital requirements. Conference Call TriMas will broadcast its second quarter earnings conference call on Wednesday, August 11, 2004 at 3:30 p.m. EDT. President and Chief Executive Officer Grant Beard and Chief Financial Officer Benson Woo will discuss the Company's recent financial performance and respond to questions from the investment community. To participate by phone, please dial: (888) 275-8177. Callers should ask to be connected to the TriMas second quarter conference call. If you are unable to participate during the live teleconference, a replay of the conference call will be available beginning August 11th at 6:30 p.m. EDT through August 18th at 6:30 p.m. EDT. To access the replay, please dial: (800) 633-8284 and use reservation number 21204790. A Note on Adjusted EBITDA

Exhibit 99.2 The Company defines Adjusted EBITDA as net income (loss) before interest, taxes, depreciation, amortization, impairment of goodwill, non-cash losses on sale-leaseback of property and equipment, and legacy stock award expense. Lease expense and non-recurring charges are included in Adjusted EBITDA and include both cash and non-cash charges related to restructuring and integration expenses. In evaluating our business, management considers and uses Adjusted EBITDA as a key indicator of financial operating performance and as a measure of cash generating capability. Management believes this measure is useful as an analytical indicator of leverage capacity and debt servicing ability, and uses it to measure financial performance as well as for planning purposes. However, Adjusted EBITDA should not be considered as an alternative to net income, cash flow from operating activities or any other measures calculated in accordance with U.S. GAAP, or as an indicator of operating performance. The definition of Adjusted EBITDA used here may differ from that used by other companies. Cautionary Notice Regarding Forward-Looking Statements This release contains "forward-looking" statements, as that term is defined by the federal securities laws, about our financial condition, results of operations and business. Forward-looking statements include certain anticipated, believed, planned, forecasted, expected, targeted and estimated results along with TriMas' outlook concerning future results. When used in this release, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could," or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will be achieved. These forward-looking statements are subject to numerous assumptions, risks and uncertainties and accordingly, actual results may differ materially from those expressed or implied by the forward-looking statements. We caution readers not to place undue reliance on the statements, which speak only as of the date of this release. The cautionary statements set forth above should be considered in connection with any subsequent written or oral forward-looking

Exhibit 99.2 statements that we or persons acting on our behalf may issue. We do not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Risks and uncertainties that could cause actual results to vary materially from those anticipated in the forward-looking statements included in this release include general economic conditions in the markets in which we operate and industry-based factors such as: technological developments that could competitively disadvantage us, increases in our raw material, energy, and healthcare costs, our dependence on key individuals and relationships, exposure to product liability, recall and warranty claims, compliance with environmental and other regulations, and competition within our industries. In addition, factors more specific to us could cause actual results to vary materially from those anticipated in the forward-looking statements included in this release such as our substantial leverage, limitations imposed by our debt instruments, our ability to successfully pursue our stated growth strategies and opportunities, as well as our ability to identify attractive and other strategic acquisition opportunities and to successfully integrate acquired businesses and complete actions we have identified as providing cost-saving opportunities. About TriMas Headquartered in Bloomfield Hills, Mich., TriMas is a diversified growth company of high-end, specialty niche businesses manufacturing a variety of products for commercial, industrial and consumer markets worldwide. TriMas is organized into four strategic business groups: Cequent Transportation Accessories, Rieke Packaging Systems, Fastening Systems, and Industrial Specialties. TriMas has nearly 5,000 employees at 80 different facilities in 10 countries. For more information, visit www.trimascorp.com.

Exhibit 99.2 TriMas Corporation Balance Sheet June 30, 2004 and December 31, 2003 (unaudited - dollars in thousands) June 30, December 31, 2004 2003 Assets Current assets: Cash and cash equivalents $5,810 $6,780 Receivables 131,670 118,970 Inventories 147,750 124,090 Deferred income taxes 10,980 10,900 Prepaid expenses and other current assets 9,290 8,440 ---------------- ----------------- Total current assets 305,500 269,180 Property and equipment, net 201,640 187,420 Goodwill 656,890 658,900 Other intangibles 316,220 322,750 Other assets 60,260 61,780 Total assets $ 1,540,510 $ 1,500,030 ================ ================= Liabilities and Shareholder's Equity Current liabilities: Current maturities, long-term debt $ 3,170 $ 10,920 Accounts payable 118,140 94,130 Accrued liabilities 66,580 75,100 Due to Metaldyne 210 4,400 ---------------- ----------------- Total current liabilities 188,100 184,550 Long-term debt 756,590 725,060 Deferred income taxes 150,610 149,030 Other long-term liabilities 35,530 37,770 Due to Metaldyne 6,480 6,960 ---------------- ----------------- Total liabilities 1,137,310 1,103,370 ---------------- ----------------- Commitments and contingencies (Note 9) Preferred stock $0.01 par: Authorized 100,000,000 shares; Issued and outstanding: None - - Common stock $0.01 par: Authorized 400,000,000 shares; Issued and outstanding: 20,010,000 shares 200 200 Paid-in capital 399,340 399,870 Retained deficit (25,410) (38,240) Accumulated other comprehensive income 29,070 34,830 ---------------- ----------------- Total Shareholder's equity 403,200 396,660 ---------------- ----------------- Total liabilities and shareholders' equity $ 1,540,510 $ 1,500,030 ================ =================

Exhibit 99.2 TriMas Corporation Statement of Operations For the Three and Six Months Ended June 30, 2004 and 2003 (unaudited - dollars in thousands, except for per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2004 2003 2004 2003 Net sales $284,210 $250,150 $ 545,110 $468,120 Cost of sales (206,860) (184,570) (403,150) (347,050) Gross profit 77,350 65,580 141,960 121,070 Selling, general and administrative expenses (44,440) (43,150) (88,150) (81,520) Gain (loss) on dispositions of property and equipment 70 (5,970) (180) (18,120) Operating profit 32,980 16,460 53,630 21,430 Other expense, net: Interest expense (16,280) (16,010) (32,590) (32,390) Other income (expense), net (380) (290) (680) (510) Other expense, net (16,660) (16,300) (33,270) (32,900) Income (loss) before income tax (expense) benefit 16,320 160 20,360 (11,470) Income tax (expense) benefit (6,030) (1,580) (7,530) 3,030 Net income (loss) $ 10,290 $ (1,420) $ 12,830 $ (8,440) Basic earnings (loss) per share $ 0.51 $ (0.07) $ 0.64 $ (0.42) =============== ================ =============== =========== Diluted earnings (loss) per share $ 0.51 $ (0.07) $ 0.63 $ (0.42) =============== ================ =============== =========== Weighted average common shares - basic 20,010,000 19,913,890 20,010,000 19,956,940 =============== ================ =============== =========== Weighted average common shares - diluted 20,323,060 19,913,890 20,316,330 19,956,940 =============== ================ =============== ===========

Exhibit 99.2 TriMas Corporation Company and Business Segment Financial Information Three Months Ended June 30, 2004 and June 30, 2003 (in millions) Cequent Transportation Accessories 2004 2003 Net sales $ 150.6 $126.0 Operating income Rieke Packaging Systems Net sales $ 34.7 $ 33.1 Operating income Fastening Systems Net sales $ 37.0 $ 37.6 Operating income (loss) Industrial Specialties Group Net sales $ 61.9 $ 54.6 Operating income Total Company Net sales $284.2 $250.2 Operating income (including office) Adjusted EBITDA $ 43.8 $ 35.7