Copyright CBS News
The Michigan-based firm TriMas is selling its aerospace unit for $1.45 billion to an affiliate of Tinicum, the company announced Tuesday. The TriMas Aerospace division provides highly-engineered fasteners and precision-machined components for commercial and defense uses. The company is headquartered on Woodward Avenue in Bloomfield Hills, and also has packaging and specialty products divisions. "This transaction represents a win for our employees, our shareholders and the future of our business," said Thomas Snyder, TriMas President & Chief Executive Officer. "We would like to thank the TriMas Aerospace team for its contributions to TriMas and its leadership throughout the sale process. We are also extremely proud of the great work our broader team has done to strengthen and improve its business, and we remain committed to delivering the highest level of service to TriMas Aerospace customers during this transition." The closing is expected to take place in early 2026, pending regulatory approvals and closing conditions. "Over the past several years, our aerospace leadership team has executed a significant transformation, delivering sustained sales growth, deepening customer partnerships and driving meaningful operational improvements. This transaction reflects the high-quality nature of the business and its continued strong momentum," said Herbert Parker, the TriMas Board of Directors chair.
