TriMas Corp. reported sales in its Aerospace segment, which includes the Monogram Aerospace Fasteners, Allfast Fastening Systems and Mac Fasteners brands, increased 7.3% to $48.9 million in the first quarter of 2020 due to the February acquisition of RSA Engineered Products and solid demand for fastener products, partially offset by a sales decrease of existing machined components products.

Q1 Aerospace segment operating profit dropped 12.5% to $5.08 million on “a less favorable product sales mix, as well as lower production efficiencies due to the impacts of the COVID-19 pandemic on operations.”

Consolidated TriMas Q1 grew 5.4% to $182.8 million, while operating profit was flat at $19.8 million and net income fell 31% to $13.1 million.

“As we move forward through the second quarter of 2020, we expect the impacts of COVID-19 on certain of our end markets will become more severe, most notably in our Aerospace and Specialty Products segments,” stated CEO Thomas Amato.

Bloomfield Hills, MI-based TriMas is a global manufacturer and provider of products in the consumer, aerospace and industrial end markets, with approximately 3,400 employees in 11 countries. Web: TriMasCorp.com