• June 22 - 24, 2021
  • Cleveland, OH

TriMas' Aerospace Fastener Sales Fell 13.9% in Second Quarter

BLOOMFIELD HILLS, MI – TriMas says its fastener-focused Aerospace segment saw net sales for the second quarter decrease 13.9% to $42.6 million. Representing 26% of its parent company’s overall revenues, the drop came primarily due the impact of significantly lower air travel and reduced commercial and business jet production related to the global pandemic. It was partially offset by the sales increase related to the acquisition of RSA in February 2020.

TriMas AeroSpace includes the Monogram Aerospace Fasteners™, Allfast Fastening Systems®, Mac Fasteners™, RSA Engineered Products™ (RSA) and Martinic Engineering™ brands, develops, qualifies and manufactures highly-engineered, precision fasteners and machined components to serve the aerospace, including military and defense, end market.

Demand and sales levels significantly declined in June, the final month of the quarter, as compared to the April and May. Second quarter operating profit and the related margin decreased due to the reduced sales and lower absorption of fixed costs, as well as a less favorable product sales mix and production inefficiencies due to the impacts of the pandemic on operations. TriMas says it continues to focus on adjusting cost structures to better align with lower demand in these end markets impacted by the pandemic, while balancing its priority of investing in new and innovative products to support its global customers.

TriMas Aerospace segment products include highly engineered fastener solutions for composite and metallic aircraft structural applications including customer-qualified blind bolts, solid and blind rivets, temporary fasteners, collars and standard fasteners; air ducting products including systems and connectors used for anti-icing and other aerospace fluid conveyance applications; and precision machined components for a variety of aerospace applications.