Jason Sandefur

UK-based Trifast reported revenue dropped 7% to GBP 122.36 million (US$238.9 million) during fiscal 2008, which ended March 31, 2008. The reduction in sales resulted “from customer site closures, planned exits from low margin business and natural attrition,” the company stated. Operating profit rose 12% to GBP 7.14 million (US$13.92m).

“We now have robust systems in place to ensure that new business won by Trifast is at levels of profitability which we consider acceptable,” stated CEO Steve Auld.

Sales in Europe and the U.S. declined 9.5% to GBP 96.2 million (US$187.8m), while sales in Asia grew 2% to GBP 26.2 million (US$51.14m).

A key platform of the new Trifast business strategy was the introduction of a new business sales team in Europe. Trifast recruited 20 new sales people to cover the following territories: UK
(6), Ireland (2),Scandinavia (2), Germany (1), France (1), Holland (1), Hungary (1), Czech Republic (1), Poland (3), and Turkey (2).
The company is looking to secure new business opportunities in automotive, IT, electronics, telecommunications and home appliances market sectors. The effort is being guided by European marketing director Keith Gibb, who has been employed by the company for 18 years.

Trifast is also investing in Asia “to ensure that we remain at the cutting edge of fastener manufacture in Asia. This investment will allow us to move into potential growth markets which will cover aerospace and defense, vision and sound technology, medical and marine products.”

Trifast manufactures and distributes industrial fasteners and components, with locations in Europe, the Americas and Asia. The company is headquartered at: Trifast House, Bellbrook Park, Uckfield, E. Sussex. TN22 1QW UK. Tel: (44) 800 731-5553 Fax (44) 800 525230 E-mail: info@trfastenings.com Web: trfastenings.com �2008 FastenerNews.com and Fastener & Fixing Europe