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TriMas Announces Agreement to Sell Assets of Compac Corporation
Posted by: gurufocus (IP Logged)
Date: December 9, 2008 12:01AM


BLOOMFIELD HILLS, Mich., Dec. 8 /PRNewswire-FirstCall/ -- TriMasCorporation (NYSE: TRS) -- a diversified growth company of specialty nichebusinesses -- today announced that the Company has signed a definitiveagreement to sell certain assets of its subsidiary, Compac Corporation, toLAMTEC Corporation.

Compac Corporation is a manufacturer of flame-retardant facings,jacketings, insulation tapes and other specialty tape products and is part ofthe Company's Packaging Systems business segment. The transaction is expectedto close during February 2009.

"We continue to execute our plan to sell non-strategic businesses andproperties, while we focus on growth opportunities in other market segments,"commented Grant Beard, TriMas President and CEO. "I am pleased to report thatwe have secured a buyer for whom the business will be an ideal fit."

Cautionary Notice Regarding Forward-looking Statements

Statements in this release that are not strictly historical, including thestatements regarding expectations for the balance of 2008 and any otherstatements regarding events or developments that we believe or anticipate willor may occur in the future, may be "forward-looking" statements. Thesestatements present management's expectations, beliefs, plans and objectivesregarding future financial performance, and assumptions or judgmentsconcerning such performance. Any discussions contained in this press release,except to the extent that they contain historical facts, are forward-lookingand accordingly involve estimates, assumptions, judgments and uncertainties.There are a number of factors that could cause actual results or outcomes todiffer materially from those addressed in the forward-looking statements.Additional information regarding the factors that may cause actual results todiffer materially from these forward-looking statements is available in ourSEC filings, including our 2007 Annual Report on Form 10-K. We assume noobligation to update any forward-looking statements as a result of newinformation or future events or developments.

About TriMas

Headquartered in Bloomfield Hills, Michigan, TriMas Corporation(NYSE: TRS) is a diversified growth company of specialty niche businessesmanufacturing a variety of highly engineered products for commercial,industrial and consumer markets worldwide. TriMas Corporation is organizedinto five strategic business segments: Packaging Systems, Energy Products,Industrial Specialties, RV & Trailer Products, and Recreational Accessories.TriMas Corporation has nearly 5,000 employees at 70 different facilities in 10countries. For additional information, please visit

CONTACT: Sherry Lauderback
             Vice President, Investor Relations & Communications
             (248) 631-5506
Source: PRNewsWire

Stocks Discussed: MPACB.PK, TRS, TRS,
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