Michigan manufacturing company TriMas Corp. announced this week it plans to acquire Allfast Fastening Systems Inc. in City of Industry for about $360 million.

Allfast makes solid and blind rivets, blind bolts, temporary fasteners and installation tools for the aerospace industry.

Under the terms of the acquisition, which is expected to close by the end of October, Allfast will continue to operate under its own name as part of TriMas’ aerospace segment. Allfast President Jim Randall will stay on as an adviser.

Allfast employs 280 workers who will all remain on board, Randall said.