TriMas No Longer In Compliance With NYSE Standards

BLOOMFIELD HILLS, Mich. (AP) — Diversified manufacturer TriMas Corp. said Friday the New York Stock Exchange said the company no longer meets its listing standards.

TriMas said over the past 30 trading days, its total market capitalization was less than $75 million, and its most recently reported stockholders' equity was less than $75 million.

TriMas said it will submit a plan to the NYSE that details how it will comply with the NYSE's continued listing standards.

This plan will detail ways to improve its balance sheet, support business initiatives to improve profitability and generate strong cash flow.

Shares of the company declined 4 cents, or 2.4 percent, to close at $1.61.