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Slide #21. TriMas Corporation — Remaining Interest in Arminak & Associates in Packaging Segment
TriMas Corporation (NASDAQ:TRS)
Remaining Interest in Arminak & Associates in Packaging Segment
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.
TriMas manufactures and provides products for customers in the consumer products, aerospace and industrial end markets. Co.'s segments are: Packaging, which consists primarily of the Rieke®, Taplast and Stolz brands, develops and manufactures dispensing products, polymeric and steel caps and closures, and polymeric jar products; Aerospace, which includes the Mac Fasteners brand, develops, qualifies and manufactures precision fasteners and machined products to serve the aerospace market; and Specialty Products, which includes the Norris Cylinder brand, designs, manufactures and distributes steel cylinders, machined metallic components, and wellhead engines and compression systems.
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Buy (3.00 out of 4)