Cequent Group Acquires Rights to Let's Go Aero (LGA) Cargo Management Products
BLOOMFIELD HILLS, Mich., Jan. 4 /PRNewswire-FirstCall/ -- TriMas Corporation (NYSE: TRS) -- a diversified growth company of high-end, specialty niche businesses -- today announced that its Cequent Group has acquired the rights to a number of Let's Go Aero (LGA) product lines. LGA is the sole operating subsidiary of LGA Holdings, Inc. (OTC Bulletin Board: LGAH).
"We are excited about this transaction because it will enhance Cequent's product offerings under our ROLA® and Highland® brands by providing innovative cargo management solutions to our customers, with the potential of adding several more of LGA's proprietary products to our portfolio in the future," said Paul Caruso, V.P. New Business Development, Cequent Group.
"Partnering with the world's leading manufacturer of recreational accessories will provide a powerful market entrance for LGA's patented designs and strengthen our ability to develop innovative cargo management products, as well as position our Company for long-term growth," said Marty L. Williams, LGA's President.
Under the terms of the licensing agreement, LGA will grant Cequent an exclusive worldwide license to manufacture and sell product based on the licensed LGA intellectual property. In addition, Cequent and LGA have agreed to pursue the development of new product based on LGA's core technology, in order to provide Cequent's customers with the best choices and value in cargo management solutions.
About Cequent
Cequent is a leading designer, manufacturer and marketer of a broad range of accessories for light trucks, sport utility vehicles, recreational vehicles, passenger cars and trailers of all types. Products include cargo management and rack systems, towing and hitch systems, and trailer and electrical brake systems. Cequent draws upon a 75-year-old heritage of superior cargo management and recreational accessory brands, including: ROLA®, Highland®, The Pro's Brand®, Draw-Tite®, Reese®, Hidden Hitch®, Fulton®, Wesbar®, Bull Dog®, and Tekonsha®.
About TriMas
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NYSE: TRS) is a diversified growth company of high-end, specialty niche businesses manufacturing a variety of products for commercial, industrial and consumer markets worldwide. TriMas Corporation is organized into five strategic business groups: Packaging Systems, Energy Products, Industrial Specialties, RV & Trailer Products, and Recreational Accessories. TriMas Corporation has nearly 5,000 employees at 80 different facilities in 10 countries. For additional information, please visit www.trimascorp.com.
Safe Harbor: To the extent that any statements made in this report contain information that is not historical, these statements are essentially forward-looking. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statement. The Company undertakes no obligation to publicly update any forward-looking statements.
SOURCE TriMas Corporation
CONTACT:
Sherry Lauderback
Vice President, Investor Relations & Communications
TriMas Corporation
+1-248-631-5506
sherrylauderback@trimascorp.com
