Strategy
With our geographical spread, our balanced sector mix and our clear strategies for growth, the Board remains optimistic about the Group’s prospects
"Market research indicates that total global demand for fasteners is set to continue to grow despite the unsettled macroeconomic environment. We therefore see the next few years as a period of continued investment and growth. Built on solid foundations, our business will continue to grow alongside its key global customers and markets"
Core strategy:
Focus on multinational OEMs
Our core business is supplying high volume assembly multinational OEMs around the world with components. The key sectors we supply through OEM partnerships demand consistent quality, price and availability in order to supply to their numerous sister plants spread globally.
Over 65% of Group sales come from core OEM relationships, our average penetration into each network is currently less than 25%; therefore, developing this pipeline is the backbone of our overall growth strategy.
Our strategic pillars
Investment driven growth
Capital investment is a core part of our ongoing strategy for growth.
Investing in quality and engineering is an ongoing requirement as the demands our customers place on us increase across all sectors of our business. We have a very strong foundation to work from, and plans are already in place to continue to invest in, and build our teams globally.
The further development of our global enquiry portal assists our teams around the world to work together, identifying opportunities, following up on leads and supporting our customer base in the most effective and profitable way.
Continue to add value and differentiate
TR is not just a ‘nut n bolt’ seller.
Our reputation in the industry for quality is second to none. We are known for our commitment and ability to go the extra mile for our customers, solving issues before they arise and stepping in where competitors have fallen short. By solving problems, insisting on absolute quality and reliability of supply at all times and working with our customers through a process of continuous improvement, TR is able to not only secure new wins in the marketplace but, just as importantly, we are able to keep and build on our existing multinational OEM relationships around the world.
Our engineering knowledge and experience, supported by our high-quality manufacturing locations means that we can add real value to our customers throughout the purchasing cycle. From initial enquiry and product development, through to ongoing supply management, we have the skills across the world to problem solve, as well as to drive efficiencies throughout the life of a build.
All of this commitment is supported by established supplier networks and valuable licences that mean we can offer a full range of product to meet our customers’ component requirements across a broad range of sectors.
Operational efficiencies
As a Group, TR is committed to continuous improvement.
We are always looking for ways to make our processes more efficient, whether that is by improving our manufacturing capacity and utilisation, working with our vendor base to manage costs, increasing our available warehousing space or improving our management and business information systems.
Our aptitude for continuous improvement initiatives, underpinned by skilled and proven management teams, gives us ongoing belief that Trifast can sustain its successful track record for long-term growth.
Acquisitions
To complement our underlying growth plans, acquisitions remain an important strategic growth pillar for the Group. Trifast is constantly looking at businesses with experienced management teams that can add new products, technologies, customers and geographies.
Since 2011 we have added three earnings enhancing businesses with highly experienced and successful teams - PSEP (Malaysia), VIC (Italy) and Kuhlmann (Germany). This clearly is an indication of the timescales involved to not only identify the best fit, but also to ensure growth and cultural harmony post transaction.
Our global acquisition team has been formed to develop the pipeline of opportunities and we will continue to use this to drive our proactive search for the next successful acquisition.
Investing in people
Trifast is a people business.
Trifast’s investing in people strategy is centred on ‘working together to manage growth’.
Our 1,300+ people are the driving force behind our business, so we are committed to getting the best out of all our people through our targeted and balanced training and development initiatives across all levels.
