Trim Systems, Inc., Agrees to Acquire Tempress, Inc.
9 October 1998Trim Systems, Inc., Agrees to Acquire Tempress, Inc.
MINNEAPOLIS, Oct. 8 -- Trim Systems, Inc., has entered into an agreement to acquire all of the outstanding common stock of Tempress, Inc., a privately held company headquartered in Seattle, Wash. The transaction is expected to be completed by the end of October. Tempress designs and manufacturers highly engineered and stylized components through a reaction injection molding process for the heavy truck, general industrial, medical mobility and marine markets. In commenting on the acquisition, John C. Read, chief executive officer of Trim Systems, said "The acquisition of Tempress will expand Trim Systems' product offering and enhance the company's ability to supply and service our heavy equipment customers with a system of cab interior components." Tempress' products include instrument panels, cabinets and shelves, handles and bumpers. Tempress custom urethane products are sold principally to Class 8 heavy truck OEMs including PACCAR (Kenworth and Peterbilt), Freightliner and Volvo. Trim Systems is a leading supplier of heavy truck interior systems. Trim Systems' operating headquarters is in Columbus, Ohio, and its manufacturing facilities are located in Ohio, Washington, North Carolina, Virginia and Texas. Trim Systems previously acquired the heavy truck operations of Landmark Industries. Trim Systems is a Heavy Duty Holdings (HDH) company. HDH is a privately held industrial management company, based in Minneapolis, Minn. HDH's goal is to consolidate heavy equipment component suppliers around the systems of these vehicles, incorporating world class logistics and quality systems, to become a leading supplier to heavy equipment manufacturers.