BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
TriMas Corporation (NASDAQ: TRS) — a diversified global manufacturer of
engineered and applied products — continues its progress and focus on
productivity and expanding and optimizing its global manufacturing
footprint to better serve its customers.
"Over the past several years, TriMas has launched numerous growth and
productivity initiatives across our businesses, with the savings
enabling us to fund our growth programs," said Dave Wathen, president
and chief executive officer of TriMas. "As a result, we have been
establishing several new plants and moving some production locations in
order to increase capacity, better support our global customers in new
locations, drive productivity and better leverage a more efficient cost
structure. All of these investments are designed to enable continuous
improvement for our customers and enhance overall TriMas' value."
Major highlights include:
-
Adding a specialty dispensing manufacturing plant in Ohio adjacent to
a significant customer;
-
Opening new branches in the energy business in Michigan, Minnesota,
Colorado and Singapore to better support customers' requirements;
-
Adding gasket and bolt manufacturing capability in Brazil;
-
Opening a state-of-the-art production facility in Arizona to support
manufacture of new products awarded by aerospace customers;
-
Consolidating two older plants in Australia into a single
state-of-the-art manufacturing facility of trailering and towing
products for significantly better efficiencies;
-
Doubling the capacity of the manufacturing facility in Thailand to
better serve increasing demand of global automotive customers; and
-
Relocating the manufacturing from the Goshen, Indiana Cequent facility
to the existing Cequent facility in Reynosa, Mexico.
Today, the Company announced the future closure of its Cequent
Performance Products' facility in Goshen, Indiana. This facility
currently manufactures hitches, weight distribution systems, fifth
wheels, underbed structures and gooseneck systems, and employs
approximately 450 people. Manufacturing operations will be relocated to
Cequent Performance Products' existing facility in Reynosa, Mexico. In
conjunction with this move, Cequent Performance Products' warehouse in
Huntington, Indiana will also close and an existing Cequent facility in
Tekonsha, Michigan will serve as a warehouse. The announced transition
will take place throughout 2013.
"While these types of decisions are never easy, we make them with
significant consideration. We are focused on providing a smooth
transition for our customers and remain committed to providing quality
product with speed. For those employees affected by the closure, the
Company is committed to working with them during this transition," said
Wathen.
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
Americas and Cequent Asia Pacific. TriMas has approximately 4,500
employees at more than 60 different facilities in 17 countries. For more
information, visit www.trimascorp.com.
for TriMas Corporation
Alan Upchurch, (248) 855-6777
aupchurch@marxlayne.com
or
Michael
Szudarek, (248) 855-6777
mszudarek@marxlayne.com
Source: TriMas Corporation
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