Activist Barington Pushes TriMas to Focus on Packaging Unit (1)

Barington Capital is urging TriMas Corp. to focus on its packaging business and divest non-core assets because its multi-segment business model isn’t delivering value to shareholders.

The activist investor contends that TriMas’ aerospace unit, which product fasteners and bolts for aircraft, is a long-term disadvantage because it remains subscale relative to rivals even though it has recovered from the coronavirus pandemic slump. The company should improve its margins for the segment and sell it in 2025, Barington Chief Executive Officer James Mitarotonda said Monday during a presentation at the Bloomberg Activism Forum.

Barington, which has taken a stake in TriMas, ...