TriMas Announces Increased Share Repurchase Authorization to $75 Million

BLOOMFIELD HILLS, Mich.–(BUSINESS WIRE)–TriMas (NASDAQ: TRS) today announced that its Board of Directors
increased the Company’s common stock share repurchase authorization to
$75 million. The previous authorization, approved in November 2015,
authorized up to $50 million in share repurchases.

“This increase demonstrates our continued confidence in our ability to
grow and generate strong cash flow, and our commitment to deliver value
to our shareholders,” said Thomas Amato, TriMas president and chief
executive officer. “While maintaining a strong balance sheet, our
capital allocation priorities will be to continue to invest in projects
to grow and continuously improve our businesses, strategic acquisitions
and share repurchases.”

During the fourth quarter, the Company purchased 318,494 shares of its
outstanding common stock for approximately $8.6 million, bringing the
total for the year ended December 31, 2018 to 442,632 shares, or
approximately 1% of shares outstanding. The Company began repurchasing
shares during the second quarter of 2018, and utilized $12.1 million of
the prior $50 million authorization through 2018. The increased share
repurchase authorization includes the value of shares already
repurchased under the previous authorization.

The extent to which TriMas repurchases its shares, and the timing of
such repurchases, will depend upon a variety of factors, including
market conditions, share price, regulatory requirements, other available
uses of capital and other corporate considerations. The program does not
require the purchase of any minimum number of shares and may be
suspended, modified or discontinued at any time without prior notice.

Notice Regarding Forward-Looking Statements

Any “forward-looking” statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, contained herein, including those relating to the Company’s
business, financial condition or future results, involve risks and
uncertainties with respect to, including, but not limited to: general
economic and currency conditions; material and energy costs; risks and
uncertainties associated with intangible assets, including goodwill or
other intangible asset impairment charges; competitive factors; future
trends; the Company’s ability to realize its business strategies; the
Company’s ability to identify attractive acquisition candidates,
successfully integrate acquired operations or realize the intended
benefits of such acquisitions; information technology and other
cyber-related risks; the performance of subcontractors and suppliers;
supply constraints; market demand; intellectual property factors;
litigation; government and regulatory actions, including, but not
limited to, the impact of tariffs, quotas and surcharges; the Company’s
leverage; liabilities imposed by debt instruments; labor disputes;
changes to fiscal and tax policies; contingent liabilities relating to
acquisition activities; the disruption of operations from catastrophic
or extraordinary events, including natural disasters; the potential
impact of Brexit; tax considerations relating to the Cequent spin-off;
the Company’s future prospects; and other risks that are detailed in the
Company’s Annual Report on Form 10-K for the fiscal year ended December
31, 2018. These risks and uncertainties may cause actual results to
differ materially from those indicated by the forward-looking
statements. All forward-looking statements made herein are based on
information currently available, and the Company assumes no obligation
to update any forward-looking statements.

About TriMas

TriMas is a diversified industrial manufacturer of products for
customers in the consumer products, aerospace, industrial,
petrochemical, refinery and oil & gas end markets with approximately
4,000 dedicated employees in 15 countries. We provide customers with a
wide range of innovative and quality product solutions through our
market-leading businesses, which we report in three segments: Packaging,
Aerospace and Specialty Products. The TriMas family of businesses has
strong brand names in the markets served, and operates under a common
set of values and strategic priorities under the TriMas Business Model.
TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,”
and is headquartered in Bloomfield Hills, Michigan. For more
information, please visit www.trimascorp.com.

Contacts

Sherry Lauderback
VP, Investor Relations & Communications
(248)
631-5506
[email protected]

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