Trifast Grows Profit on Slight Sales Fallback

Jason Sandefur

Editor”s Note: The following column by Phil Matten, editor of Fastener & Fixing Europe, is part of a news column exchange with FIN/FastenerNews.com.

Preliminary accounts at Trifast show increased annual profit for the fiscal year ended March31, 2004, despite marginally lower sales. Pretax profit was �3.43million (US$6.2 million) compared with �2.23m the previous year. Sales slipped 1% to �102.35m. Over 50% of profits were derived from activities outside the UK, driven by strong sales in Asia and Central Europe. Despite benefiting from TR Asia, U.S. operations were described as disappointing.
Infast To Close Manufacturing Plants
Infast Group announced the closure of Arnold Wragg Ltd on June 30, 2004, describing the business as a non-core subsidiary. The company, which produced small batch turned fasteners at two sites in Sheffield, England, had suffered falling sales. The closure is ultimately expected to yield a small profit following the sale of assets, the value of which is expected to exceed closure costs.
UK Hot Forger Doubles Capacity
RCF Bolt & Nut Co. (Tipton) Ltd have purchased the plant, machinery and stocks of Bolt Manufacturing Co., Barnsley, which has now become RCF Barnsley Forge Ltd. Managing Directo, Ray Cooper said, “It”s been a tough time over the last five years, but we feel it is important to keep a forging presence in the UK for the benefit of our loyal customers throughout the UK and Europe.” The acquisition expands RCF”s range as well as doubling capacity. Two induction heaters have been commissioned at the Tipton (Birmingham) operation to permit forging of stainless and exotic alloys.
New Ferroforma Location
The new Bilbao Exhibition Centre, which will host Ferroforma 2004 this September, should cause envy in a number of European cities. Developed from scratch five miles outside the Northern Spanish city – famous for its Frank Gehry designed Guggenheim Museum – the new complex comprises six, mainly pillar-free, air-conditioned halls providing 150,000 square metres of exhibition space. The project has been delivered on time, and impressively, already has a fully operational train link to the city centre and direct spur from the main Bilbao road system. Ferroforma, held every two years, is the second largest European hardware show, after Practical World, Cologne. Although still mainly targeting the Spanish, Portuguese and Southern French markets, the organisers are developing its international reputation, and the new venue hopes to make 2004 a strong show, with over 1,035 companies already committed.
Berrang New EFDA President
In May, delegates of the national fastener distributor associations of France, Germany, Great Britain, Italy, and Spain, met in Birmingham, England, for the Annual General Assembly of the European Fastener Distribution Association. Bernhard Berrang, Managing Director of Karl Berrang GmbH (Mannheim, Germany) was elected president. Berrang, whose company has subsidiaries in the U.S. and France, as well as Germany, succeeds organisation founder Florian Seidl, CEO of Keller & Kalmbach GmbH (Munich). Steve Auld, recently appointed Managing Director of UK”s Serco Ryan, became vice president, replacing Bernard Maurin, CEO of Groupe Maurin (Lyon, France). In his first year as of the UK”s BAFD, Ault has launched a series of new initiatives, including the creation of special interest groups to ensure the association, which had lost impetus during 2002/3, is much more tightly focused on members” needs.
Fastener Fair Focuses on Stuttgart “05
Organiser Jerry Ramsdale announced that the focus will be on Fastener Fair Stuttgart for 2005, with the next UK Fastener Fair now scheduled for 2006. In a frank interview he acknowledges that the Sunday opening at the May 10th UK Fastener Fair proved disappointing, although he expressed great satisfaction with the new Telford venue. “We were really pleased with the Telford International Centre, which provided a much more professional and easy to manage environment for our event. We were short of maybe 150 visitors on the Sunday, maybe because of good weather, although significantly a high proportion of those who did come had not previously visited Fastener Fair.”
On the decision to switch to a two-yearly cycle, he said, “It is a trend we”ve recognised for some time in many other European events. With a significant number of our regular UK exhibitors very interested in Stuttgart and a strong enquiries from across Europe, we want to concentrate on having a great first show in Germany.”
China Buys German Coke Plant
One of China”s largest coal companies, Yanzhou Coal, has bought a coke plant, capable of producing 2m tonnes of coke per year, from Deutsche Steinkohle in Germany. It will be rebuilt near the Yellow River and is expected to be in production by 2006 as one of the biggest coke plants in China. The price paid has not been disclosed but Yanzhou made it clear that the plant was bought for its technology, which includes a larger furnace than any currently operating in China. The move highlights the difference between Chinese and German economies, as well as the evident profit opportunities in coke.
Corus Invests in UK Wire Plant
Corus has announced a �14m (U.S.$25m) investment at its Scunthorpe rod mill in the UK to provide a state-of-the-art warehousing system and mill enhancements. Wire Rods director Peter Hogg says: “This major investment reflects the potential of the rods business. It will allow us to supply more high grade rod to meet the growing demand for increasingly sophisticated steels across the globe from the automotive industry.” The mill”s new distribution facility will store rod coils in individual compartments, protecting them from damage, The facility will be the first of its kind in any European mill. \ �2004 FastenerNews.com