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BLOOMFIELD HILLS, Mich. - TriMas Aerospace has secured a multi-year global contract with Airbus to supply fastening solutions, expanding the company’s engagement across Airbus’s supply chain. The agreement covers a range of civil and military aircraft, including the A320, A350, and A220 models. The deal comes as TriMas (TRS) approaches its next earnings announcement on February 27, with InvestingPro data showing the company maintaining a healthy financial position with liquid assets exceeding short-term obligations.
Vitaliy Rusakov, Group President of TriMas Aerospace, expressed pride in the partnership with Airbus and emphasized the company’s dedication to delivering high-performance fastening solutions. The contract includes next-generation fasteners and newly qualified products aimed at optimizing robotic assembly processes.
The manufacturing of the fasteners will be conducted at TriMas Aerospace’s facilities in Commerce and City of Industry, California, as well as Ottawa, Kansas. This move aligns with the company’s commitment to advancing manufacturing technologies and investing in state-of-the-art equipment to enhance aerospace fastening technology.
TriMas Aerospace, known for its precision-engineered fasteners and components, serves commercial aircraft manufacturers and the U.S. military. The company’s product offerings include blind bolts, solid and blind rivets, temporary fasteners, collars, and standard fasteners suitable for composite and metallic aircraft structures.
TriMas, the parent company, operates in consumer products, aerospace, and industrial markets, employing approximately 3,400 people across 13 countries. The company, currently valued at $919 million, is publicly traded on the NASDAQ under the ticker symbol TRS and is headquartered in Bloomfield Hills, Michigan. According to InvestingPro, which offers comprehensive analysis of over 1,400 US stocks, TriMas has demonstrated consistent profitability with a current EPS of $0.64 and annual revenue of $906.5 million. The stock is currently trading near its 52-week low, presenting an interesting opportunity for investors seeking detailed analysis through InvestingPro’s exclusive research reports.
The announcement comes with a standard forward-looking statement disclaimer, highlighting the various risks and uncertainties that could affect the company’s business and financial results. For investors seeking deeper insights, InvestingPro offers additional analysis through its comprehensive research reports, including detailed financial health scores and exclusive ProTips that help evaluate investment opportunities more effectively.
This news is based on a press release statement from TriMas.
In other recent news, TriMas Corporation has announced several significant developments. The company disclosed its CEO transition plan, with current President and CEO Thomas Amato stepping down by June 30, 2025. Amato will remain with TriMas until then to ensure a smooth transition, and if a successor is appointed earlier, he will serve as a special advisor. Additionally, TriMas has sold its Arrow Engine business, marking its exit from the oil and gas end market as part of a broader strategic review to focus its portfolio. The company has also appointed Shawn Sedaghat as a new independent director, bringing over four decades of experience in the packaging industry to the board. Furthermore, TriMas has implemented an executive retention program to stabilize its leadership team, offering cash retention payments and restricted stock units to key officers. This move follows the announcement of a CEO transition and aims to retain critical leadership talent. These actions highlight TriMas’s efforts to enhance its governance and strategic direction.
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