TriMas Releases Third Annual Sustainability Report

Rhea-AI Summary

TriMas releases its annual Sustainability Report, showcasing its commitment to transparency and providing an overview of its sustainability progress in 2022. The report highlights the company's initiatives in corporate governance, ethics, people, the environment, and products. TriMas has also joined the United Nations Global Compact and is aligned with the UN Sustainable Development Goals.

BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)-- TriMas (NASDAQ: TRS) today announced it has released its annual Sustainability Report, demonstrating the Company's commitment to transparency by providing a comprehensive overview of its sustainability progress achieved during 2022.

TriMas’ Sustainability Report demonstrates the Company's dedication to responsible environmental, social and governance (ESG) practices and details the wide range of sustainability initiatives initiated across its global operations. As illustrated in the report, TriMas is actively committed to enhancing its sustainability strategy across its four focused areas of corporate governance and ethics, people, the environment and products. The Company is also committed to sharing best practices and employing continuous improvement initiatives across its businesses.

“We are pleased to share our third annual TriMas Sustainability Report, demonstrating the successes of our ESG activities during the past year,” said Thomas Amato, TriMas President and Chief Executive Officer. “The report highlights our continued efforts in a number of areas, including a robust Supplier Code of Conduct, an enhanced Environment, Health and Safety Policy, a push for a more collaborative and inclusive workplace, and the continued introduction of innovative, sustainable product solutions that minimize energy consumption, reduce waste and enhance recyclability. The report also features a comprehensive set of our environmental metrics, including our Scope 1 and Scope 2 greenhouse gas emissions.

“During the year, TriMas also become a participant of the United Nations Global Compact (UNGC) and is aligned with the UN Sustainable Development Goals (SDGs), reinforcing our lasting commitment to responsible and sustainable ESG practices. We believe our commitment is integral to creating long-term value for our customers, employees and investors, while contributing to a better global community. We are proud of our accomplishments and are dedicated to building a more sustainable future,” Amato concluded.

The TriMas Sustainability Report may be accessed digitally on the TriMas website under the Sustainability section, or by the following link: https://www.trimascorp.com/images/Sustainability-Report2022.pdf .

About TriMas

TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,500 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimascorp.com.

Notice Regarding Forward-Looking Statements

Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas’ business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; the severity and duration of the ongoing coronavirus (“COVID-19”) pandemic; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to rising tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers’ and suppliers’ sustainability and environmental, social and governance (“ESG”) goals and achieve our sustainability and ESG goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, such as the ongoing coronavirus pandemic; the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230621890618/en/

Sherry Lauderback

VP, Investor Relations & Communications

(248) 631-5506

sherrylauderback@trimascorp.com

Source: TriMas

FAQ

What did TriMas announce?

TriMas announced the release of its annual Sustainability Report.

What does the Sustainability Report demonstrate?

The Sustainability Report demonstrates TriMas' commitment to transparency and provides an overview of its sustainability progress in 2022.

What are the key areas of focus in TriMas' sustainability strategy?

TriMas' sustainability strategy focuses on corporate governance and ethics, people, the environment, and products.

What is TriMas' involvement with the United Nations Global Compact?

TriMas has become a participant of the United Nations Global Compact and is aligned with the UN Sustainable Development Goals.

Where can the TriMas Sustainability Report be accessed?

The TriMas Sustainability Report can be accessed digitally on the TriMas website under the Sustainability section or through the provided link.