Trimas Credit Agreement

Trimas Corp . – In accordance with the amendment, a $500.0 million revolving credit facility has been replaced by a new $300.0 million revolving credit facility. The coordination of these non-GAAP financial measures on the most directly comparable gaap financial measure is included in Schedule I at the end of this press release. For more information, see under “Investors.” Trimas Corp. – On September 20, Trimas LLC made an amendment to the credit contract replacement facility – SEC Filing Sherry Lauderback VP, Investor Relations – Communications (248) 631-5506 TriMas will finance the acquisition primarily from existing cash and its lines of credit. As stated in TriMas` third quarter earnings communication, following the closing of the acquisition of Affaba-Ferrari, the company expects net debt over the past twelve months to remain below 2.0 times EBITDA under the triMas credit contract, as TriMas 2020 generates high cash production and debt is currently low. Trimas Corp – In accordance with the amendment, the credit facility matures on September 20, 2022 – SEC Filing Source text: [] Other corporate coverage: TriMas (NASDAQ: TRS) announced today that it has signed an agreement to acquire Affaba – Ferrari Srl, designer and manufacturer of precision caps and caps for food and beverage products. The transaction is expected to be completed before the end of the year, followed by Affaba-Ferrari as part of the TriMas Packaging segment in the Rieke division. “We are pleased to announce an agreement between TriMas and the Ferrari family,” said Thomas Amato, President and CEO of TriMas. “The acquisition of Affaba-Ferrari will complement our existing offering of food and beverages and industrial products and will add new blue chip customers and state-of-the-art manufacturing to our European site.

Affaba- Ferrari offers proprietary product designs, production capabilities for aseptic applications and important food safety certifications, such as the British Retail Consortium/Institute of Packaging (BRC/IoP) Global Standard and the Food and Drug Administration/Interstate Milk Shippers (FDA/IMS) Compliance, which will ultimately allow us to expand our current product offering for our global food and beverage customers. TriMas ended the third quarter of 2020 with $389.2 million in unlimited cash and total availability under its revolving credit facility, $89.2 million in unlimited cash and a leverage ratio of 1.4 times, as defined in the Company`s credit contract. TriMas announced a total debt of $295.6 million at September 30, 2020, compared to $294.7 million at December 31, 2019 and $294.4 million at September 30, 2019. The Company ended the quarter with net debt (3), a significant measure the company is implementing under its debt relief model of $195.8 million, down $40.7 million from $236.5 million $US the previous year. TriMas is today, Thursday, October 29, 2020, at 10 .m. The call number is (800) 353-6461. Participants must request a link to the TriMas Earnings Conference for the third quarter of 2020 (confirmation code 3061032). The conference call is also organized at the same time via the TriMas website under under the heading “Investors” with a slide presentation via webcast. A new conference call will be available from October 29, 2020 at 15 .m on the TriMas website or at (888) 203-1112 (Replay Passcode 3061032).