TriMas Announces Tom Benson as President of Cequent Towing & Trailer Products
BLOOMFIELD HILLS, Mich., Nov. 14 /PRNewswire-FirstCall/ -- TriMas Corporation (NYSE: TRS) -- a diversified growth company of specialty niche businesses -- today announced that it is consolidating its Towing, Trailer and Electrical products businesses into one strategic business unit under a single management team. Thomas "Tom" Benson has been appointed President of Cequent Towing and Trailer Products effective immediately and will report directly to Edward Schwartz, TriMas Executive Vice President.
This integration will streamline and improve service to Cequent customers, while proactively ensuring cost competitiveness. All functional areas of the three business units, including sales, manufacturing, distribution and back-office functions, will be combined. Product management and engineering will remain product line focused.
Benson has most recently served as President of Towing Products and, in this capacity, has been instrumental in growing the company's reputation as a market leader, as well as driving operational improvements in the business. Benson has almost twenty-five years of experience serving these related markets. During his tenure at TriMas, Benson has led successful profit and productivity improvement programs, product and channel growth initiatives and integration of acquired businesses and product lines.
"This integration will strengthen our position in the marketplace, as well as support our efforts to increase productivity and leverage our cost structure," commented Ed Schwartz. "Tom's substantial experience in this industry will be a great asset as we strive to drive focus, improved operational performance and more efficient customer support within these businesses."
Cautionary Notice Regarding Forward-looking Statements
Statements in this release that are not strictly historical, including the statements regarding expectations for the balance of 2008 and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, may be "forward-looking" statements. These statements present management's expectations, beliefs, plans and objectives regarding future financial performance, and assumptions or judgments concerning such performance. Any discussions contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2007 Annual Report on Form 10-K. We assume no obligation to update any forward-looking statements as a result of new information or future events or developments.
About TriMas
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NYSE: TRS) is a diversified growth company of specialty niche businesses manufacturing a variety of highly engineered products for commercial, industrial and consumer markets worldwide. TriMas Corporation is organized into five strategic business segments: Packaging Systems, Energy Products, Industrial Specialties, RV & Trailer Products, and Recreational Accessories. TriMas Corporation has nearly 5,000 employees at 70 different facilities in 10 countries. For additional information, please visit www.trimascorp.com.
CONTACT:
Sherry Lauderback
Vice President, Investor Relations & Communications
(248) 631-5506
sherrylauderback@trimascorp.com
SOURCE TriMas Corporation
