This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TriMas Corporation Continues To Drive Productivity And The Manufacturing Footprint

Stocks in this article: TRS

TriMas Corporation (NASDAQ: TRS) – a diversified global manufacturer of engineered and applied products – continues its progress and focus on productivity and expanding and optimizing its global manufacturing footprint to better serve its customers.

“Over the past several years, TriMas has launched numerous growth and productivity initiatives across our businesses, with the savings enabling us to fund our growth programs,” said Dave Wathen, president and chief executive officer of TriMas. “As a result, we have been establishing several new plants and moving some production locations in order to increase capacity, better support our global customers in new locations, drive productivity and better leverage a more efficient cost structure. All of these investments are designed to enable continuous improvement for our customers and enhance overall TriMas’ value.”

Major highlights include:

  • Adding a specialty dispensing manufacturing plant in Ohio adjacent to a significant customer;
  • Opening new branches in the energy business in Michigan, Minnesota, Colorado and Singapore to better support customers’ requirements;
  • Adding gasket and bolt manufacturing capability in Brazil;
  • Opening a state-of-the-art production facility in Arizona to support manufacture of new products awarded by aerospace customers;
  • Consolidating two older plants in Australia into a single state-of-the-art manufacturing facility of trailering and towing products for significantly better efficiencies;
  • Doubling the capacity of the manufacturing facility in Thailand to better serve increasing demand of global automotive customers; and
  • Relocating the manufacturing from the Goshen, Indiana Cequent facility to the existing Cequent facility in Reynosa, Mexico.

Today, the Company announced the future closure of its Cequent Performance Products’ facility in Goshen, Indiana. This facility currently manufactures hitches, weight distribution systems, fifth wheels, underbed structures and gooseneck systems, and employs approximately 450 people. Manufacturing operations will be relocated to Cequent Performance Products’ existing facility in Reynosa, Mexico. In conjunction with this move, Cequent Performance Products’ warehouse in Huntington, Indiana will also close and an existing Cequent facility in Tekonsha, Michigan will serve as a warehouse. The announced transition will take place throughout 2013.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.43 +29.22 0.17%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs