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TriMas (TRS) to Acquire Plastic Srl to Boost Rieke Business
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TriMas Corporation (TRS - Free Report) has signed an agreement to acquire Plastic Srl, a privately-owned manufacturer of polymeric caps and closures for home-care product applications. The buyout will expand TriMas’ geographic presence, add new products, and boost its production capability. The deal is expected to close by early 2019. Financial terms of the deal remain undisclosed.
Located in Forlì, Italy, Plastic Srl primarily makes single-bodied and assembled caps and closures for detergent and household cleaning products. The company generates around 10 million euros ($12 million) in annual revenues. Upon closing, Plastic Srl will be a wholly-owned division of TriMas’ Rieke business.
TriMas’ Rieke business manufactures specialty dispensing systems such as pumps, foamers and sprayers, plus plastic and steel closures, caps, drum and pail enclosures, rings and levers. During the third-quarter 2018 conference call, TriMas stated that its Rieke business is actively quoting on multiple e-commerce programs, as well as other new product developments relating to package sustainability, child safety, and convenience.
Plastic Srl will revamp TriMas’ Rieke business’ product offering. Its innovative manufacturing expertise will also support the Rieke business.
Share Price Performance
TriMas has outperformed its industry with respect to price performance over the past year. The stock has gained around 15%, while the industry has dipped around 26%.
Northwest Pipe has a long-term earnings growth rate of 10%. The stock has appreciated around 37% in a year’s time.
Flowserve has a long-term earnings growth rate of 17.3%. The company’s shares have been up 26% during the past year.
Mobile Mini has a long-term earnings growth rate of 14%. Its shares have rallied 17% in the past year.
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With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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TriMas (TRS) to Acquire Plastic Srl to Boost Rieke Business
TriMas Corporation (TRS - Free Report) has signed an agreement to acquire Plastic Srl, a privately-owned manufacturer of polymeric caps and closures for home-care product applications. The buyout will expand TriMas’ geographic presence, add new products, and boost its production capability. The deal is expected to close by early 2019. Financial terms of the deal remain undisclosed.
Located in Forlì, Italy, Plastic Srl primarily makes single-bodied and assembled caps and closures for detergent and household cleaning products. The company generates around 10 million euros ($12 million) in annual revenues. Upon closing, Plastic Srl will be a wholly-owned division of TriMas’ Rieke business.
TriMas’ Rieke business manufactures specialty dispensing systems such as pumps, foamers and sprayers, plus plastic and steel closures, caps, drum and pail enclosures, rings and levers. During the third-quarter 2018 conference call, TriMas stated that its Rieke business is actively quoting on multiple e-commerce programs, as well as other new product developments relating to package sustainability, child safety, and convenience.
TriMas Corporation Price
TriMas Corporation Price | TriMas Corporation Quote
Plastic Srl will revamp TriMas’ Rieke business’ product offering. Its innovative manufacturing expertise will also support the Rieke business.
Share Price Performance
TriMas has outperformed its industry with respect to price performance over the past year. The stock has gained around 15%, while the industry has dipped around 26%.
Zacks Rank & Other Stocks to Consider
TriMas carries a Zacks Rank #2 (Buy).
Other stocks carrying the same Zacks Rank as TriMas are Northwest Pipe Company (NWPX - Free Report) , Flowserve Corporation (FLS - Free Report) and Mobile Mini, Inc. . You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Northwest Pipe has a long-term earnings growth rate of 10%. The stock has appreciated around 37% in a year’s time.
Flowserve has a long-term earnings growth rate of 17.3%. The company’s shares have been up 26% during the past year.
Mobile Mini has a long-term earnings growth rate of 14%. Its shares have rallied 17% in the past year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>