1/6/2015 10:53:00 AM
NEWS BRIEFS
TriMas Moving Lamons Fastener Operations To Mexico
TriMas Corp. announced it will move a portion of the gasket and fastener operations from its Lamons Houston facility to a new facility in Mexico.
“The move to Mexico will improve the Lamons global operating model and enhance the competitiveness of the business,” the company stated.
The transition is expected to be completed over the next 12 to 18 months.
Founded in 1947, Lamons has manufacturing facilities in Houston; Denver; Rio de Janeiro, Brazil; the UK; Hangzhou, China; Rotterdam, The Netherlands; Bangalore and Faridabad in India.
The announcement comes weeks after TriMas acquired Allfast Fastening Systems for the “astonishingly high price” of $340 million.
TriMas’ Aerospace segment, which consists of Allfast, Monogram Aerospace Fasteners, Mac Fasteners, and Martinic Engineering, achieved a 6.1% increase in Q3 sales to $27.4 million, primarily due to the results of the acquisition of Mac Fasteners in October 2013. Segment operating profit fell 39% to $3.9 million.
Nine-month Aerospace segment sales rose 27% to $86.4 million, while operating profit slipped 9% to $14.4 million.
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