TriMas
NASDAQ: TRS $25.94
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A Message from Thomas Amato, TriMas President and CEO

Since late January, TriMas has been managing matters related to the COVID-19 outbreak, where it first impacted certain of our Asia operations and strategic supplier-partners, and then later began impacting certain of our manufacturing operations in Europe. With escalation now occurring in North America, this pandemic has created an unprecedented level of uncertainty, impacting virtually all global businesses. With that said, we wanted to update you on what we are doing at TriMas, both from an employee health and safety standpoint, as well as modifying our various production models.

First, the health and safety of our employees around the world is the top priority. As we continue to monitor the spread of COVID-19, we are adopting regional and local government orders and guidance, and taking precautions to minimize risks. For example, we have directed our local manufacturing operations to modify rules and processes to increase social distancing, improve awareness of washing hands and increase site cleaning. Communications between our global leadership teams occur daily, and even more frequent as necessary, in order to share any new information and to facilitate adjustments at local levels. Several weeks ago, we halted all international travel and limited domestic travel to only urgent situations. We will continue to monitor the rapidly changing landscape of this crisis and make adjustments to our business operations as we receive new information.

With respect to our customer-partners, each of our respective businesses is providing direct updates on production planning and capacity for our manufacturing operations as well as our strategic supply network. Our customers have been working collaboratively with each of our businesses during this unprecedented period.

Many of TriMas’ operations manufacture products that are used in applications that help fight the spread of germs, improve personal hygiene, support home and janitorial cleaning, and in medical related environments. In addition, we manufacture products for use in food, beverage, pharmaceutical and nutraceutical packaging applications. We also have manufacturing operations that are supplying products into essential parts of the U.S. and European economies, as well as into defense applications. Examples include:
     •    Our Packaging group’s foamers, pumps and other dispensers are used in hand soap and sanitizer, laundry, and home and janitorial cleaning applications.
     •    In addition to the above, we have multiple manufacturing locations that produce products such as jar closures and beverage dispensers in food and beverage applications.
     •    Also, we have enacted commercial escalation protocol to accelerate the production of cylinders where fitted with an oxygen or helium-oxygen valve.

These are just a few examples where our manufacturing operations are balancing higher customer demand in this otherwise challenging environment.

Most of our global manufacturing facilities are in active production in order to continue to support our customers’ needs. We are monitoring daily our strategic supply network, customer-receiving plants, their downstream operations, all to assess making any purchasing or manufacturing adjustments. Again, through our daily leadership communication process, matters are promptly escalated so we may expeditiously coordinate any need of our global locations.

In this very challenging time, TriMas will continue to monitor the current events and adapt our business accordingly. Thank you for your patience and support as we navigate through these unprecedented times.

Thomas Amato
TriMas President and CEO