TriMas Corporation’s TRS business unit — TriMas Aerospace — has secured multi-year contracts with Airbus of Toulouse, France. The contract is aimed at expanding the company’s fastener product sales activity in Europe. The TriMas Aerospace segment designs and manufactures highly-engineered fasteners, temporary fasteners and standard fasteners to serve the global commercial and military aerospace industry under the Monogram Aerospace Fasteners, Allfast Fastening Systems and Mac Fasteners brands. TriMas Aerospace’s Monogram Aerospace Fasteners and Allfast Fastening Systems operations have been rewarded Airbus’s new supply contracts.
The company recently entered into an agreement to acquire RSA Engineered Products. This buyout will enhance TriMas Aerospace’s product portfolio through the addition of air-ducting products, connectors, flexible joints, ozone converters and machined assemblies, for use in aerospace and defense applications primarily.
The company’s collaboration with Airbus supports its growth strategy to expand global customer in commercial and defense aerospace applications. Airbus is a significant fastener solutions customer to TriMas Aerospace and thus, the company expects to further team up with the former on fastener solutions. TriMas will continue to focus on leveraging the TriMas Business Model, in order to improve management and performance of businesses. The company also has a solid pipeline of both product and process innovation that will sustain long-term growth and position its businesses to capitalize on market opportunities and minimize market disruptions. Demand levels in many of TriMas’ end markets are being impacted by uncertainties related to the long-standing U.S-China trade tiff. This, along with the prevalent weakness in the North American industrial markets, will weigh on the Packaging segment’s top line. Moreover, higher freight and logistic costs will keep dragging down margins in the days ahead. However, the Aerospace segment is expected to fare better on strong quoting activity, order intake and new business wins. The company’s results are bearing the brunt of higher commodity costs and increased tariffs on imported goods. Consequently, TriMas plans to counter these costs and tariff charges through commercial actions, supply-chain management, leveraging global manufacturing footprint and continued management of businesses under the TriMas Business Model. TriMas Corporation Price and Consensus
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