TriMas Corporation Acquires Company and Expands Packaging Footprint in Asia
July 29, 2014 - Bloom Field Hills, Mich., United States
TriMas Corporation (NASDAQ: TRS) – a diversified global manufacturer of engineered and applied products – today announced that TriMas Corporation has acquired Lion Holdings Pvt. Ltd. The transaction closed July 25, 2014, at which time Lion Holdings became part of the Company's Packaging segment.
“We are pleased to add Lion Holdings to our portfolio of Packaging companies,” said Dave Wathen, president and chief executive officer of TriMas Corporation. “This acquisition complements our growth strategies to follow our packaging customers into high growth regions of the world.”
Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10 million in revenue for the 12 months ended June 30, 2014.
“This acquisition clearly broadens our Asian market coverage and extends our geographic reach, while also providing significant customer and product synergies,” said Lynn Brooks, president of TriMas’ Packaging segment. “Lion Holdings will also provide us additional capacity to support our ongoing growth initiatives in Asia, while continuing to create a responsive, global supply chain.”
Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NASDAQ: TRS) provides engineered and applied products for growing markets worldwide.TriMas is organized into six reportable segments: Packaging, Energy, Aerospace & Defense, Engineered Components, Cequent APEA and Cequent Americas. TriMas has approximately 6,000 employees at more than 60 facilities in 17 countries. For more information, visit www.trimascorp.com.
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Source: Business Wire India