Latest Key Developments (Source: Significant Developments)
TriMas Corp Reaffirms FY 2013 Guidance
TriMas Corp announced that for fiscal 2013, it expects top-line growth of 6% to 8%, with potential acquisitions as upside, as compared to fiscal 2012 and diluted earnings per share from continuing operations to range between $2.15 and $2.25 per share. The Company reported revenue of $1.27 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.36 billion and EPS of $2.20 for fiscal 2013. Full Article
TriMas Corp Issues FY 2013 Guidance; Revenue Guidance Above Analysts' Estimates
TriMas Corp announced that for fiscal 2013, it expects top-line growth of 6% to 8%, with potential acquisitions as upside, as compared to fiscal 2012 and diluted earnings per share from continuing operations to range between $2.15 and $2.25 per share. The Company reported revenue of $1.27 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.33 billion and EPS of $2.19 for fiscal 2013. Full Article
TriMas Corp Announces Acquisition Of Martinic Engineering, Inc
TriMas Corp announced that it has acquired Martinic Engineering, Inc. for approximately $19 million. The transaction closed on January 28, 2013, at which time Martinic Engineering became part of TriMas Corporation's Aerospace and Defense segment. Full Article
TriMas Corp's Lamons Announces Acquisition And Continues To Expand Global Footprint And Product Portfolio In Brazil
Lamons, a TriMas Corporation business, announced that it has acquired Gasket Vedações Técnicas Ltd on January 14, 2013. Located in Rio de Janeiro, Gasket Vedações Técnicas Ltd is a recognized manufacturer and supplier of American Petroleum Institute (API) 6A approved ring-type joints for the onshore and offshore drilling markets, as well as distributor of additional gasket types for the refining and petrochemical markets. Terms of the transaction were not disclosed. Full Article
TriMas Corp Reaffirms FY 2012 EPS Guidance; Raises FY 2012 Revenue Guidance
TriMas Corp reaffirmed fiscal 2012 diluted earnings per share outlook range of $1.75-$1.85 per share. The Company also expects top-line growth estimate to be between 15% to 17%. The Company reported revenue of $1.08 billion in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.82 and revenue of $1.22 billion for fiscal 2012. Full Article
TriMas Corp Announces Sale of 1,500,000 Shares of Common Stock by Stockholder
TriMas Corp announced that Heartland Industrial Associates, L.L.C., has agreed to sell 1,500,000 shares of its common stock to Deutsche Bank Securities Inc. as the sole underwriter in the registered public offering of those shares. All net proceeds from the sale of the common stock will be received by the selling stockholder. TriMas Corporation will not receive any of the proceeds. The total number of outstanding shares of TriMas Corporation's common stock will not change as a result of this offering. Full Article
TriMas Corporation Raises FY 2012 Revenue Guidance; Reaffirms FY 2012 EPS Guidance
TriMas Corporation updated expectations for fiscal 2012 and raised sales outlook from an increase of 7%-10% to a range of 10%-14% compared to fiscal 2011 and reaffirmed fiscal 2012 diluted earnings per share (EPS) from continuing operations attributable to be between $1.75-$1.85 per share, excluding any events that may be considered special items. The Company reported revenue of $1.08 billion in fiscal 2011. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.22 billion and EPS of $1.78 for fiscal 2012. Full Article
TriMas Corporation Acquires Trail Com Limited And Announces Agreement To Acquire CIFAL Industrial e Comercial Ltda
TriMas Corporation announced that it has entered into an agreement to acquire CIFAL Industrial e Comercial Ltda and has acquired Trail Com Limited, for approximately $23 million USD in cash, in aggregate, with additional future payments based on post-acquisition operating results. TriMas' Lamons business entered into an agreement to acquire CIFAL Industrial e Comercial Ltda, located in Sao Paulo, Brazil. CIFAL is a recognized manufacturer and supplier of specialty fasteners and stud bolts, primarily to the oil and gas industry. In addition, the Cequent Asia Pacific business announced the acquisition of Trail Com Limited completed on July 2, 2012. Headquartered in Auckland, New Zealand, Trail Com is a distributor for towing accessories and trailer components. Full Article
TriMas Corporation Announces Pricing Of Common Stock Offering
TriMas Corporation announced the pricing of its previously announced registered underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $20.75. The underwriters have a 30-day option to purchase up to an additional 600,000 shares from TriMas. Settlement of the offering is expected to occur on May 8, 2012. TriMas expects to use its proceeds from the sale of the common stock for general corporate purposes. Deutsche Bank Securities and Goldman, Sachs & Co. are acting as the joint bookrunners for the offering. KeyBanc, Roth Capital Partners and Barrington Research Associates, Inc. are acting as the co-managers for the offering. Full Article
TriMas Corporation Announces Public Offering of Common Stock
TriMas Corporation announced that it is commencing an offering of 4,000,000 shares of its common stock in a public offering. The underwriters will have a 30-day option from the date of the offering to purchase up to an additional 600,000 shares from TriMas. TriMas expects to use its proceeds from the sale of the common stock for general corporate purposes. Deutsche Bank Securities and Goldman, Sachs & Co. are acting as the joint book runners for the offering. Full Article
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