Fanatical approach paying off for Trifast
BIRMINGHAM engineering group Trifast has reported that trading is ahead of budget with the automotive sector at home and abroad being the main driver of its success.
The firm said that, what it describes as,“the ‘doomsday’ effect from the incessant flow of media negativity towards global economics” is serving to motivate its people to becoming ‘fanatical’ about transactional margin improvement and removing wasteful activities and expenditure.
In an interim management statement and trading update covering the period from April 1 to the end of July, the industrial fastenings manufacturer said the automotive sectors in UK and mainland Europe and electronics in Asia are all doing well.
It added that opportunities for introducing new customers to the newly acquired Power Steel factory in Malaysia are now starting to materialise as its international sales team gains momentum in promoting high-end product capability into the Asian and Asean automotive sector.
Trifast also points to an “encouraging influx” of new contract wins in recent months in Europe.
“The company as a whole is relishing its successful recovery since early 2009 and has no intention of allowing its current dynamics to slip,” it said.
“The focus on ‘continuous improvement’ is absolute, as is the objective to offer more product choice to existing loyal customers.
“As a result, two new extensive product ranges have now been sourced from low-cost manufacturers and will be promoted strongly in H2 of this financial year.”
