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January 8, 2008 |
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TRIMAS CORP: Cequent Group Gets Rights to Let's Go Aero Products TriMas Corporation has announced that its Cequent Group has acquired the rights to a number of Let's Go Aero product lines. Let's Go Aero is the sole operating subsidiary of LGA Holdings, Inc. "We are excited about this transaction because it will enhance Cequent's product offerings under our ROLA(R) and Highland(R) brands by providing innovative cargo management solutions to our customers, with the potential of adding several more of LGA's proprietary products to our portfolio in the future," said Cequent Group Vice President of New Business Development, Paul Caruso. "Partnering with the world's leading manufacturer of recreational accessories will provide a powerful market entrance for LGA's patented designs and strengthen our ability to develop innovative cargo management products, as well as position our company for long-term growth," said Let's Go Aero's President, Marty L. Williams. Under the terms of the licensing agreement, Let's Go Aero will grant Cequent Group an exclusive worldwide license to manufacture and sell product based on the licensed LGA intellectual property. In addition, the two companies have agreed to pursue the development of new product based on Let's Go Aero's core technology, in order to provide Cequent's customers with the best choices and value in cargo management solutions. About Cequent Cequent Group is a designer, manufacturer and marketer of a broad range of accessories for light trucks, sport utility vehicles, recreational vehicles, passenger cars and trailers of all types. Products include cargo management and rack systems, towing and hitch systems, and trailer and electrical brake systems. Cequent draws upon a 75-year-old heritage of superior cargo management and recreational accessory brands, including: ROLA(R), Highland(R), The Pro's Brand(R), Draw-Tite(R), Reese(R), Hidden Hitch(R), Fulton(R), Wesbar(R), Bull Dog(R), and Tekonsha(R). About TriMas Headquartered in Bloomfield Hills, Michigan, TriMas Corporation (NYSE:TRS) -- http://www.trimascorp.com/ -- is a diversified growth company of high-end, specialty niche businesses manufacturing a variety of products for commercial, industrial and consumer markets worldwide. TriMas Corporation is organized into five strategic business groups: Packaging Systems, Energy Products, Industrial Specialties, RV & Trailer Products, and Recreational Accessories. TriMas Corporation has nearly 5,000 employees at 80 different facilities in 10 countries. The company has manufacturing facilities in Indiana, Mexico, England, Germany, Italy, and China. * * * As reported on May 28, 2007, Standard & Poor's Ratings Services raised its ratings on Bloomfield Hills, Michigan-based TriMas Corp., including its corporate credit rating, which goes to 'B+' from 'B'. At the same time, all ratings were removed from CreditWatch, where they were placed with positive implications on Aug. 4, 2006, following the company's announcement that it had filed a registration statement for an IPO. S&P said the outlook is stable. |
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