7/29/2013 4:00:00 PM
NEWS BRIEF
TriMas Corp. reported sales in its Aerospace & Defense segment (consists of Monogram Aerospace Fasteners, Martinic Engineering and NI Industries) increased 22.8% to $23.7 million in the second quarter of 2013, primarily due to the acquisition of Martinic Engineering and higher sales levels in the blind bolt fastener product lines, partially offset by a decrease in sales from the defense business. Second quarter operating profit increased 14.5% to $5.5 million, while the related margin percentage decreased primarily due to the impact of Martinic.
TriMas said it continues to invest in this segment by developing and marketing highly-engineered products for aerospace applications, as well as bidding on new projects for defense customers.
Six-month Aerospace and Defense segment sales gained 20% to $44.7 million, with operating profit down 4% to $9.3 million.
Second-quarter sales in TriMas’ Energy segment (consists of Lamons including South Texas Bolt & Fitting, CIFAL, Gasket Vedações Técnicas and Wulfrun) increased 24.7% to $58.8 million primarily due to increased sales to engineering and construction customers, recent acquisitions and higher sales levels from the European branches. Second quarter operating profit rose 20% to $5.2 million.
TriMas acquired UK-based Wulfrun Specialised Fasteners Limited in March 2013.
Energy segment sales during the first six months of 2013 improved 16% to $113.7 million, with operating profit up 3% to $11.08 million. ©2013 GlobalFastenerNews.com
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