Integration of Towing, Trailer and Electrical Business Units
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
