BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
TriMas Corporation (NASDAQ: TRS) - a diversified global manufacturer of
engineered and applied products - today announced that it has acquired
Lion Holdings Pvt. Ltd. for $27 million, paid in cash at closing. The
transaction closed July 25, 2014, at which time Lion Holdings became
part of the Company's Packaging segment.
"We are pleased to add Lion Holdings to our portfolio of Packaging
companies," said Dave Wathen, president and chief executive officer of
TriMas Corporation. "This acquisition complements our growth strategies
to follow our packaging customers into high growth regions of the world."
Lion Holdings, headquartered in Greater Noida, India, specializes in the
manufacture of highly engineered dispensing solutions. From its three
locations in India and Vietnam, Lion Holdings generated approximately
$10 million in revenue for the 12 months ended June 30, 2014.
"This acquisition clearly broadens our Asian market coverage and extends
our geographic reach, while also providing significant customer and
product synergies," said Lynn Brooks, president of TriMas' Packaging
segment. "Lion Holdings will also provide us additional capacity to
support our ongoing growth initiatives in Asia, while continuing to
create a responsive, global supply chain."
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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