TriMas CFO: Leverage ratio still improving; liquidity sufficient

By Jennifer Lanning Drey

Savannah, Ga., June 14 - TriMas Corp.'s leverage ratio continues to improve and is on its way to being below 3 times, Mark Zeffiro, the company's chief financial officer, said during a Tuesday presentation at the Deutsche Bank Global Industrials and Basic Materials Conference in Chicago.

TriMas' current leverage ratio of 3.01 times shows improvement from a high "well into the fives," he said.

Zeffiro also noted that TriMas has significant liquidity in its cash and credit facilities to fund growth initiatives and strategic imperatives over time.

The company is looking to invest in growth programs that deliver new products, new markets and expanded geographies. TriMas would consider bolt-on acquisitions in its profitable packaging segment as well as in aerospace and defense, the CFO said.

"We see ability to grow this business. Small projects mean a lot to us. We have hundreds of projects that the teams are working on," Zeffiro said.

TriMas sees organic growth in the high single digits in 2011 and free cash flow of $50 million to $60 million, he said.

TriMas is a Bloomfield Hills, Mich.-based provider of engineered and applied products.

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