2/21/2014 10:48:00 AM
NEWS BRIEFS
TriMas Reports Aerospace Fastener Gains
TriMas Corp. reported sales in its Aerospace & Defense segment (consists of Monogram Aerospace Fasteners, Mac Fasteners, Martinic Engineering and NI Industries) rose 29.5% to $101.8 million in 2013.
The increase was prompted by acquisitions (Martinic Engineering in January 2013 and Mac Fasteners in October 2013), along with “improved demand for blind bolts and one-sided installation products resulting from new programs with airplane frame manufacturers and the recent introduction of new products.”
Full-year Aerospace & Defense segment profit gained 14% to $23.8 million.
Fourth-quarter Aerospace & Defense segment sales jumped 48.4% to $30.5 million, while operating profit increased 65% to $8.4 million.
Energy segment sales (consists of Lamons including South Texas Bolt & Fitting, Basrur, CIFAL, Gasket Vedações Técnicas and Wulfrun) improved 8.1% to $205.6 million in 2013, boosted by recent acquisitions and increased sales to engineering and construction customers. Full-year operating profit declined 51% to $8.6 million.
Fourth-quarter Energy segment sales decreased 6% to $44.2 million, primarily due to “the significant slow down and postponement of turnaround activity and maintenance spend in the North American refining and petrochemical end markets.” Q4 operating results produced a $3.9 million loss.
For the year, TriMas reported overall sales gained 9.6% to a record $1.39 billion.
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