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TRIMAS CORPORATION ANNOUNCES CONVERSION OF PREFERRED SHARES

 ANN ARBOR, Mich., Dec. 8 /PRNewswire/ -- TriMas Corporation (NYSE: TMS) announced today that its board of directors has authorized the company to call for redemption all of the outstanding shares of its $100 Convertible Participating Preferred Stock.
 MascoTech Inc. (NYSE: MSX), which owns all of the outstanding shares of the Preferred Stock, has advised the company of its intent to exercise its right to convert the Preferred Shares into approximately 7.8 million shares of TriMas Corporation Common Stock. The Preferred Stock is convertible into Common Stock at the equivalent of $9 per Common share. The closing price yesterday of TriMas Corporation Common Stock on the New York Stock Exchange was $22 3/8 per share. MascoTech, which owns 8.1 million shares of TriMas Common Stock prior to the conversion, will own 15.9 million shares, or 43 percent, of TriMas' outstanding Common shares.
 TriMas Corporation is a diversified proprietary products company with leadership product positions in consumer, industrial and commercial niche markets.
 -0- 12/8/93
 /CONTACT: Brian P. Campbell, president of TriMas, 313-747-7025/
 (TMS MSX)


CO: TriMas Corporation; MascoTech Inc. ST: Michigan IN: SU:

SB -- DE023 -- 1857 12/08/93 14:59 EST
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Publication:PR Newswire
Date:Dec 8, 1993
Words:196
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