BLOOMFIELD HILLS — The diversified manufacturer TriMas Corp. (Nasdaq: TRS) announced it had acquired the assets and personnel of Parker Hannifin Corp.’s plant in Tolleson, Ariz., which manufactures complex machined parts for the aerospace industry.
The transaction closed Nov. 2, at which time the facility became part of the TriMas Aerospace group.
Terms of the transaction were not disclosed.
In connection with the transaction, Martinic Engineering,a division of TriMas Aerospace, and the Tolleson plant will continue to provide machining and assembly of products, and prototyping, for the Fluid Systems Division of Parker Hannifin under a long-term agreement.
The transaction is expected to add $12 million to $15 million a year in revenue to TriMas’ top line.
Said Tom Aepelbacher, president of TriMas Aerospace: “This acquisition demonstrates our ongoing commitment to grow our aerospace business and significantly complements Martinic Engineering. The combination will enhance our relationship with existing customers, provide capacity for growth and expand our manufacturing capabilities and product offerings.”
Added Guy Martin, group vice president of operations for the airframe and actuation business of Parker Aerospace: “This is a natural combination and a win-win for both organizations. We look forward to building upon this partnership in the future.”
TriMas is organized into four segments: Packaging, Aerospace, Energy and Engineered Components. TriMas has approximately 4,000 employees at more than 50 locations in 16 countries. For more information, visit http://www.trimascorp.com.
The TriMas Aerospace segment of TriMas Corp. is organized into four businesses: Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners and Martinic Engineering. TriMas Aerospace designs, develops and manufactures precision engineered components including blind bolts, fasteners, solid and blind rivets, and hydraulic and pneumatic systems, to serve commercial aircraft companies, suppliers and distributors, and U.S. and allied militaries. For more information, visit http://www.trsaero.com.