Trifast fastens on to new market opportunities
TRIFAST, the Birmingham-based fastenings group, is planning to extend its’preferred supplier’ partnership status outside the traditional European OEM plants into plants in Asia and the US.
In a trading update issued this morning, the firm said it is developing a strong forward order pipeline reflecting solid growth from both new and existing customers across its key sectors of global automotive, domestic appliances and electronics/telecoms infrastructure.
“Global OEM customers are by far the largest contributor to revenue,” it said.
“This trend is expected to improve further over the short to medium term as we focus on converting the opportunities to extend our ‘preferred supplier’ partnership status outside the traditional European OEM plants into numerous sister plants in Asia and the USA.
“Margin improvement continues to be driven by ongoing operational process efficiencies.”
Trifast said it is still pursuing potential acquisition opportunities that would be complementary to the group’s business and meet its strategic objectives.
“Overall, despite the macro economic trends and exchange rate effects, the board remains very encouraged by progress to date and the opportunities ahead, all of which are expected to contribute in delivering encouraging underlying organic growth which will be ahead of its current expectations,” it said.
