2/27/2013 12:42:00 AM
NEWS BRIEF

Trimas Corp. reported sales increased 17.4% to a record $1.27 billion in 2012.
The company’s Energy segment, which consists of Lamons — including South Texas Bolt & Fitting and CIFAL, saw fourth-quarter and full year 2012 sales increase 14.7% and 14%, respectively, “due to continued market share gains within the highly-engineered bolt product line, additional sales generated by newer branches, the acquisition of CIFAL in Brazil in July 2012 and increased levels of turnaround activity at refineries and petrochemical plants.”

The company’s Aerospace & Defense segment, which consists of Monogram Aerospace Fasteners and NI Industries, reported Q4 sales increased 11.7% on “improved demand for blind bolts and temporary fasteners from aerospace distribution customers resulting from new programs with airplane frame manufacturers, the recent introduction of new products and sales growth in China.”

Aerospace & Defense segment sales for 2012 remained flat as improved demand for blind bolts and temporary fasteners from aerospace distribution customers was offset by lower sales in the defense business.

During 2012, Trimas acquired Brazil-based CIFAL Industrial e Comercial Ltda, which became part of TriMas’ Lamons business.

Founded in 2001, San Paulo-based CIFAL manufactures and supplies specialty fasteners and stud bolts, primarily to the oil and gas industry, generating approximately US$9 million in revenue for the 12 months ended June 30, 2012.

“GVT now allows us to broaden our product offering in country to include gaskets and offers additional opportunities for continued growth, while expanding our footprint in Brazil to be closer to our customers,” commented CEO David Wathen during a February 26 conference call transcribed by Seeking Alpha.

Lamons is part of Trimas’ Energy segment, which saw sales increase approximately 40% for Q4 and 2012. CFO Mark Zeffiro said the increase was prompted by “multiple growth initiatives, including market share when totaling almost 9 million within our highly engineered bolts product line, our July acquisition of CIFAL in Brazil and incremental sales from new branches to support Lamons global customers.”

“We continue to leverage CIFAL and our executing on plans to further support customers in Brazil given the expected growth in the regions Energy sector.”

“Monogram, our aerospace businesses, continues to show positive sales momentum with a double-digit increase in sales to both prior periods, including new sales into Asia,” Zeffiro explained.  “We continued to experienced higher order activity, which resulted in record backlog at year end.”

“In Energy, plentiful natural gas needs customer plants are converting from oil to gas as feedstock and concerns about leakage or environmental hazards help increase sales of higher spec seals, gaskets and fasteners,” Zeffiro said.

Aerospace and Defense gains were driven by “new aircraft designs, redesigns of existing platforms and substitution of lighter weight fasteners and parts, all areas we focus on.”

The executives hinted at further acquisition potential.

“We have a fastener capacity issue within Energy, as in the big fastener that we will make a South Texas Bolt in all that,” stated CEO Wathen.  “And we need more of that capacity because we are having to outsource things and pay way more than we could manufacture for.”

Trimas estimates 2013 sales will increase 6% to 8% compared to 2012. ©2013 GlobalFastenerNews.com