Electronics Production | November 23, 2007
Trifast sees growth in Europa & Asia
Industrial fastenings maker Trifast sees most of its growth in Asia. The company is continuing to track its customers, particularly in electronics, as they move production to the Far East. Trifast also sees big opportunities in Europe.
New business wins include NCR in India and additional business from Foxconn in Vietnam. Eastern Europe is another growth market for Trifast. A new sales force has been deployed in countries such as Poland, Czech Republic and Hungary. The group is selling to big domestic appliance manufacturers, including Electrolux, Siemens and Whirlpool, which are moving production to Eastern Europe, Thomson Investment Managment News reports. A new sales initiative is also starting to deliver results in the US. A strategy for the US is to sell to other distributors. The company is making rapid progress in selling a new line of self-clinch fasteners, and the company is aiming to capture 10 pct of the market, worth 180 mln USD in three years. Trifast said it reviewed a number of acquisition opportunities in the first half, but none met its stringent criteria. Acquisitions are still on the agenda, mainly in Europe and ideally in Germany.