TriMas has proudly announced the successful and ahead-of-schedule completion of its strategic initiative within the TriMas Packaging group. This initiative involved the relocation of specific production assets from a California-based manufacturing facility to alternative locations in Indiana and Arkansas. Consequently, TriMas Packaging is poised to exit its leased 160,000 sq. ft. facility in Rohnert Park, California, by the conclusion of 2023.

Furthermore, TriMas Packaging has accomplished the internalization of a significant portion of operations that were previously outsourced to third-party warehouse and distribution centers in New Jersey and Nevada. This strategic move aims to capture substantial logistics savings.

Thomas Amato, President and Chief Executive Officer of TriMas, acknowledged the challenges inherent in rationalizing manufacturing and distribution footprints while emphasizing the company's proactive response to the evolving demand landscape. He stated, "We chose to leverage the opportunities presented by this dynamic demand environment to establish a more balanced manufacturing approach, positioning our TriMas Packaging group for enhanced future performance. Anticipated combined savings from these endeavors are estimated to be around $5 million on an annualized run rate basis. We anticipate realizing the full benefits of these actions in 2024, as we also anticipate capitalizing on operational leverage gains in an increasingly robust demand environment."

Source:businesswire.com