TriMas Corporation Announces Sale of its Industrial Fastener Business
Bloomfield Hills, Mich. – February 9, 2007 – TriMas Corporation has finalized the sale of Lake Erie Products, its industrial fastener business. Lake Erie Products’ operations in Frankfort, Indiana, and Wood Dale, Illinois, were sold in separate transactions. The Fontana Group, headquartered in Italy, acquired the large-diameter industrial headed fastener business based primarily in Frankfort. Chicago-based Holbrook Mfg. purchased the small-diameter fastener business located primarily in Wood Dale.
“The sale of our Lake Erie Products operations facilitates TriMas’ focus on growth opportunities in other market segments and regions,” said Grant Beard, president and CEO of TriMas. TriMas has reported the Lake Erie Products business as a discontinued operation in its financial statements since the fourth quarter of 2005.
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 five strategic operating segments: Packaging Systems, Energy Products, Industrial Specialties, RV & Trailer Products and Recreational Accessories. TriMas has nearly 5,000 employees at 80 different facilities in 10 countries. For more information, visit www.trimascorp.com.
SOURCE TriMas Corporation
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Eric Younan
Michael Szudarek
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