TriMas Corp. has announced Horizon Global Corp. as the name of the newly created company created from the spin-off of its Cequent businesses. The business will be listed on the NYSE under the ticker symbol “HZN.” The spin-off, which was previously announced in December 2014, is targeted to be complete in mid-2015.
Horizon Global is a designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products on a global basis, serving the automotive aftermarket, retail and original equipment channels. Horizon Global will be comprised of TriMas’ Cequent Americas and Cequent APEA segments. These combined segments reported revenue of more than $600 million in 2014, with a 10 percent compound annual growth rate from the end of 2010 through 2014. Horizon Global will have approximately 2,800 employees located at 20 facilities throughout the world. The company’s management team, including A. Mark Zeffiro, president and CEO, and David Rice, chief financial officer, will be located in the new company’s headquarters in Bloomfield Hills, Michigan.
In addition, Horizon Global has launched a new website www.horizonglobal.com.
