TriMas Announces Bolt-On Acquisition in Aerospace Segment
By Business Wire News
By Business Wire News
BLOOMFIELD HILLS, Mich.
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.”
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.
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