Cequent Performance Products will be exhibiting at the Outdoor Retailer Show beginning on July 31 in Salt Lake City, Utah.
According to a press release, the Cequent booth (BR707) will feature the ROLA Dart Cargo basket, a selection of bike carriers, rooftop cross bars and other cargo management products.
“This is our fourth year at Outdoor Retailer and we get a terrific reception each time we exhibit there,” says Gail Matheus, general manager of North American Automotive Products. “One of our mottos is ‘Life’s an Adventure.’ Through our ROLA and Pro Series brands, we provide outdoor adventurers with products that transport their gear safely and securely.”
Cequent will also feature its HitchMatch program, a proprietary system designed to help consumers easily identify which cargo accessories will be the optimum match for their hitch.
Each day of the show there will be a chance to win a free ROLA product. Attendees will be able to select from one of four items offered and will not need to be present at the drawing to win.
Doug Anderson has joined the Cequent Performance Products (CPP) training team in the newly created position of visual media specialist. According to a press release, he will report directly to Tom Romero, the team’s leader and CPP’s director of sales and technical training.
In his new role, Anderson will be responsible for orchestrating the production, direction and organization of CPP product training videos, learning modules and web based educational content. He will also take the lead in the development of showroom display, merchandising and educational store sets.
Over the past three years, Anderson has been the company’s marketing and communications coordinator. His 28 years of experience with ad agencies and in-house marketing departments have made him “well suited for his new role,” the release stated.
Anderson is a graduate of Wayne State University with a bachelor’s in fine arts. He is currently working toward a master’s in business administration.
Cequent Performance Products (CPP) announced the transition of its Tekonsha, Mich., facility to a regional distribution center.
According to a press release, the location currently houses the company’s engineering and product development teams focused on automotive electrical and braking products. The 75,000-square-foot facility will take the place of the Huntington, Ind., location and add more than 13 jobs to the area.
“Tekonsha is an ideal location to serve as our newest distribution center,” says Justin Schuhardt, director of global logistics. “Combined with the opening of our Dallas, Texas, master distribution center, we are in a great position to serve customers throughout the Midwest region.”
Built in 2001, the Tekonsha facility will continue to be the center of development for automotive and braking research. It will join five other CPP North American distribution centers with its new warehousing capabilities.
Towing product supplier Cequent Performance Products (CPP), a division of TriMas Corp., recently expanded operations in Dallas.
According to a press release, a new state-of-the-art facility began shipping in May of this year and employs more than 40 people.
Cequent said that The 24/7 operation, with in-house customer service representatives, can provide service to either coast in the United States and to Canada in as few as two days. It will serve CPP as its principal warehouse for redistribution throughout the Western hemisphere.
“The new facility is designed to handle traffic to our customers in both North and South America,” says John Walsh, vice president of sales and marketing at Cequent. “We are excited to have its efficiency and strategic location as we continue to expand our products and customer base in the years to come.”
The facility has over 180,000 square feet and dock doors to accommodate up to 34 semi-trucks simultaneously. It also uses a radio frequency tracking system for accurate order selection.
The energy efficient building opened on May 20 when the first package shipped. Craig Stull, who has been with the company since October 1999, is the facility manager.
Cequent Performance Products Inc., a division of Trimas Corp., has notified state officials that it plans to close its distribution center in Huntington, Ind., before the end of the year.
As reported by the Fort Wayne Journal-Gazette, the facility will cut jobs in stages, beginning with nine warehouse employees who will work until about Aug. 30, the filing said.
More workers will be permanently laid off near the end of September and the beginning of November, HR Director Bill Zoli said in the letter to Indiana officials.
The total number was not immediately available. But the company has been shrinking its Huntington presence for awhile, said Steve Kimmel, executive director of the Huntington County Chamber of Commerce.
Plymouth, Mich.-based Cequent manufactures and distributes towing and trailer accessories, including vehicle-specific trailer hitches, electric trailer brake controls, trailer breakaway systems, fifth-wheel hitches, electrical harnesses, trailer jacks and couplers.
The company’s 10 name brands include Bulldog, Draw-Tite, Hidden Hitch and Tow Ready.
Cequent Performance Products announced the hiring of Sean Carrigan as the Western Canadian district sales manager.
According to a press release, Carrigan is returning to Cequent to resume his role his former position. The company said that he brings several years of sales and account management expertise to the position.
In 2005, Carrigan won Cequent’s Salesman of the Year as he successfully sold products through wholesale distributors and throughout the installer channel of customers, while maximizing sales potential in all situations.
“He is well respected by his customer base and is very familiar with the Western Canadian market,” the release stated.
Bloomfield Hills, Mich.-based TriMas Corp., parent to industry supplier Cequent Performance Products, announced record revenue for its first quarter, ended March 31, as sales rose 13.5% to $337.8 million from $297.6 million in the year-ago period.
During the first quarter, sales increased in five of the six reportable segments, primarily as a result of additional sales from bolt-on acquisitions, market share gains, new product introductions and geographic expansion as compared to first quarter 2012.
Excluding noncontrolling interests, first-quarter net income was $13.2 million, or 33 cents per diluted share, compared to $12.5 million, or 36 cents per diluted share, during first quarter 2012.
“Our record first quarter sales demonstrates our continued ability to successfully execute on our growth strategies,” said President and CEO David Wathen. “In the midst of an uncertain global economic environment, we continue to identify the bright spots where we believe we can capture growth for our businesses through product innovation, market share gains and geographic expansion.
“Looking forward, our full year 2013 view is essentially unchanged from our previous guidance. We remain committed to TriMas’ ability to outperform the economy, with expected 2013 sales growth of 6% to 8%, as compared to 2012.”
Other highlights from the quarter included:
• Reduced interest expense by more than 50% as compared with first quarter 2012, resulting from a reduction in overall interest rates due to the 2012 redemption of the company’s 9 3/4% senior notes and the refinancing of the credit facilities.
• Completed three additional bolt-on acquisitions year-to-date to expand existing product offerings, gain access to new customers and end markets, expand the geographic footprint internationally, and capitalize on scale and cost efficiencies.
• The company reported operating profit of $23.7 million in first quarter. Operating profit and the related margin percentage were impacted by costs related to recent acquisitions including purchase accounting adjustments, higher costs associated with global growth initiatives, new plant and equipment ramp-up costs and higher costs associated with long-term incentive programs, with the majority of these incremental costs included in selling, general and administrative expenses. The company continued to generate significant savings from capital investments, productivity projects and lean initiatives, which contributed to the funding of growth initiatives.
To view the entire report click here.
Cequent Performance Products Inc., a leading industry supplier of towing and trailer aftermarket products, will continue its partnership with Brad Keselowski Racing for the 2013 season.
United Steelworkers Local 9550 voted Friday (Feb. 22) to accept what union representatives are calling a retention bonus from Cequent Performance Products, according to a report by the Goshen News. Mike O’Brien, director of United Steelworkers Sub District 4, said the union will not be going to arbitration.
Cequent parent company Trimas Corp. announced in November it would lay off 450 workers at the Goshen, Ind., Cequent plant. Company officials said they were moving the facility’s operations to Reynosa, Mexico, to cut down on shipping costs since it has other plants in Texas and Mexico.
The “retention bonus” amounts to a $3.5 million package with another month of insurance for workers and “a payment of $500 for those on the low end with less than a year in seniority to $36,000 for the top end and it depends on how long the others have been there. They will be paid within that range,” O’Brien said.
Cequent officials plan to close the Goshen plant at the end of this year. The first layoffs were set to take place Friday. The work force will be down to half after July, and the plant will remain open and operating until December.
The immediate fate of nearly 350 members of the United Steelworkers at the Cequent Performance Products plant in Goshen, Ind., is in their own hands.
The South Bend Tribune reported that on Friday (Feb. 22), members of USW Local 9550 will vote on whether to accept a closure offer from Cequent, which is moving its plant to Mexico, or reject it and go to arbitration.
If workers reject the offer, an arbitration hearing is slated for April 18-19, according to Mike O’Brien, United Steelworkers Sub District 4 director.
Cequent’s parent Trimas Corp. officially announced in late November it would lay off 450 employees, almost 75% of them union workers. At the time, the company said it was moving its operations to Reynosa, Mexico, to reduce shipping costs since it has other plants in Texas and Mexico.
The company makes parts for the automotive and recreational vehicle industries.
In January, U.S. District Court Judge Robert L. Miller Jr. ruled against the union’s attempt to be granted a preliminary injunction that would have prevented Cequent from moving equipment out of its Goshen plant in preparation for its move to Mexico.
However, Miller did affirm a previous ruling that the dispute over the company being able to outsource jobs while laying people off was subject to arbitration.
The company has informed the court that the Goshen facility is not scheduled to close permanently until the end of this year, and that the first layoffs will not occur until Friday. In addition, the company said more than half the employees will remain through the end of June and the remainder will be let go in December.
O’Brien said he won’t try to sway union members either way on the vote.
“There is no such thing as a guarantee,” O’Brien said regarding winning in arbitration. “While we feel confident about our case, we think membership should make that decision, and I am not going to push them one way or the other.”
The union will hold the vote in the Masonic Temple in Goshen, with the results expected sometime between 6 p.m and 7 p.m. Friday.