BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
TriMas Corporation (NASDAQ: TRS) - a diversified global manufacturer of
engineered and applied products - today announced it has acquired the
remaining 30 percent interest of Arminak & Associates, LLC for cash,
plus an earn-out based on the future success of the business. The
transaction closed on March 11, 2014. Helga Arminak will remain as
president of Arminak and the company will continue to operate as part of
the Company's Packaging segment. TriMas had previously acquired a 70
percent share of the business in February 2012.
"Due to the success achieved during the first two years, we are pleased
to acquire the remaining interest of Arminak," said Dave Wathen,
president and chief executive officer of TriMas Corporation. "The
synergies from the initial acquisition have proven great and have
enabled us to further complement our packaging growth strategies for the
future."
Arminak & Associates is a leader in the design, manufacture and supply
of foamers, lotion pumps, fine mist sprayers and other packaging
solutions for the cosmetic, personal care, beauty aids and household
product markets, and is headquartered in Southern California.
"This successful partnership has enabled us to serve the needs of both
companies' customers by providing a superior product portfolio, enhanced
design and innovation capabilities, and improved global manufacturing
flexibility," said Lynn Brooks, president of Rieke Packaging Systems.
"Helga and her team are committed to continuing to provide cutting-edge
technology with speed, agility and flexibility to meet every customer's
needs."
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
APEA and Cequent Americas. TriMas has approximately 6,000 employees at
more than 60 facilities in 17 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 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, 2013, 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.
TriMas Corporation
Christine Parker, (248) 631-5438
Communications
Specialist
christineparker@trimascorp.com
Source: TriMas Corporation
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