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Barington steps up pressure on TriMas ( TRS ) by now pushing for a

broader review

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Barington says time is right to hire adviser with CEO

planning

to exit

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More activists are expected to include M&A demands this

year

By Svea Herbst-Bayliss

NEW YORK, Jan 10 (Reuters) - Activist investor Barington

Capital Group wants TriMas ( TRS ) to launch a strategic review

of options, including the possible sale of the entire company,

arguing in a letter that hiring a financial adviser is a higher

priority than finding a new CEO.

The New York-based hedge fund, which owns roughly 1.5% of

the Bloomfield Hills, Michigan-headquartered manufacturer of

industrial, aerospace, and consumer products, is dialing up the

pressure days after TriMas ( TRS ) said CEO Thomas Amato will step down.

"Now is the optimal time for the Board to explore strategic

alternatives for the Company and (we) do not believe that hiring

a new CEO, who will embark on another 5 to 10 year strategic

plan, is in the best interests of shareholders," Barington

founder James Mitarotonda told TriMas ( TRS ) Chairman Herbert Parker in

a letter seen by Reuters.

A TriMas ( TRS ) representative did not respond immediately to a

request for comment.

Barington, a long-time TriMas ( TRS ) investor, has argued for years

that the packaging, aerospace and specialty products segments do

not fit together and that its mini-conglomerate structure has

contributed to a lagging stock price. The hedge fund has been

urging TriMas ( TRS ) to divest its aerospace and Arrow Engine units.

TriMas ( TRS ), which has a market value of just under $1 billion,

saw its stock price sink 25.5% over the last five years and

closed trading at $23.12 on Wednesday.

Barington said during Amato's eight years as CEO, the

company made missteps and failed to clean up its portfolio.

Barington said it wants the board to think more boldly and

to consider the sale of each business separately as well as

thinking about selling the company as a whole.

Amato plans to leave at the end of June or earlier once a

replacement is found, but Barington said hiring a new CEO now

would delay the review and sales process.

Activist investors like Barington are expected to step up

demands for target companies to make deals this year as a new

president moves into the White House and after mergers and

acquisitions already picked up pace last year.

Last year, for example, aerospace parts maker Barnes Group

was taken private by Apollo Funds.

Barington made headlines in the last weeks for pushing

retailer Macy's to make changes to boost its share price

and by running a board challenge at casket-maker Matthews

International ( MATW ).

Barington plans to press on with its proxy fight at Matthews

even after the company this week announced plans to sell one of

its units that the hedge fund had pushed for.