Bloomfield Hills-based TriMas Corp., a global manufacturer of multiple engineered and applied products, today announced net sales grew 8 percent with record sales of $1.5 billion compared to 2013. Today, with recent acquisitions, the company has approximately 7,000 employees at more than 60 facilities in nearly 20 countries.
“During the year, we intensified our efforts to improve our future margins across all of our businesses through a series of initiatives,” says David Wathen, TriMas president and CEO.
Last year, the company increased net sales in all six segments, which include energy, aerospace, engineered components, packaging, Cequent APEA, and Cequent Americas. Wathen says the growth was the result of sales from acquisitions, as well as geographic expansion, new product introductions, and strength in certain end markets.
“We remain focused on reshaping the businesses to better serve our customers, optimizing our flexible global manufacturing footprint, implementing productivity and lean programs to reduce lead times, complexity and costs, and leveraging our recent acquisitions,” Wathen says.
In the fourth quarter, the company reported record fourth quarter net sales of $350.6 million, an increase of 9.5 percent versus last year.
TriMas estimates 2015 sales will increase 3 to 5 percent.
The company also announced it has appointed Herbert K. Parker, former CFO and executive vice president of operational excellence at Harman International, to its board of directors, effective immediately.