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News Breaks
July 28, 2014
10:01 EDTTRSTriMas acquires Lion Holdings Pvt for $27M in cash
TriMas Corporation announced that it has acquired Lion Holdings Pvt. Ltd. for $27M, paid in cash at closing. The transaction closed July 25 at which time Lion Holdings became part of the company's Packaging segment. Lion Holdings, headquartered in Greater Noida, India, specializes in the manufacture of highly engineered dispensing solutions. From its three locations in India and Vietnam, Lion Holdings generated approximately $10M in revenue for the 12 months ended June 30.
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September 22, 2014
13:54 EDTTRSTriMas removed from Barrington Best Ideas List at Barrington
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12:16 EDTTRSOn The Fly: Midday Wrap
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11:50 EDTTRSTriMas plummets to 52-week low after cutting fiscal 2014 outlook
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07:12 EDTTRSTriMas to host conference call
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07:08 EDTTRSTriMas expects to obtain all clearance for Allfast deal by October end
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07:04 EDTTRSTriMas to acquire Allfast Fastening Systems for $360M
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07:02 EDTTRSTriMas cuts FY14 EPS view to $1.85-$1.95 from $2.15-$2.25
Consensus is $2.17. The company estimates that 2014 sales will increase 6%-7% as compared to 2013, consensus $1.5B. In addition, the company has maintained its guidance of $55M-$65M of Free Cash Flow, defined as Cash Flow from Operating Activities less Capital Expenditures, in 2014. As previously indicated, we have faced both external market pressures and operational challenges in our Energy and Aerospace businesses to date in 2014,” said David Wathen, TriMas President and CEO. “While we have taken actions to improve the performance in these segments, the reality is that the improvements have not taken place at the expected pace. In addition, our Cequent businesses have faced and will continue to face additional margin pressures during the back half of 2014. We do not take lightly the need to adjust market expectations and continue to focus on capturing the opportunities and mitigating the risks we face in these choppy end markets. While we do see positive trends in certain businesses, these trends are expected to be more than offset by the recent headwinds. We are taking actions to effectively address these challenges and remain positive on the longer-term prospects for EPS growth in our business.”
07:01 EDTTRSTriMas cuts FY guidance
06:57 EDTTRSTriMas trading halted, pending news
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September 18, 2014
13:19 EDTTRSTriMas management to meet with Jefferies
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