Auld Joins Trifast Board Upon Serco Ryan Acquisition
Auld Joins Trifast Board Upon Serco Ryan Acquisition
John Wolz
Steve Auld is the new executive director of Trifast plc upon the completion of Trifast’s acquisition of Serco Ryan. Trifast plc, the parent to TR fastenings, the global manufacturer and distributor of industrial fastenings and VMI supplier, completed its �18 million (US$31.6 million) acquisition of Serco Ryan from Lillieshall, a subsidiary of Wyko Holdings Ltd, Trifast chief executive Jim Barker announced.
Auld continues as managing director of Serco Ryan and joins the Trifast board to provide support to the European operations. Auld, 45, joined Serco Ryan in 1990 as sales & marketing director and was promoted to managing director in 2004. Auld is chair of the British Association of Fastener Distributors and vice president of the European Fastener Distributor Association.
Serco Ryan principally operates in the UK from eight locations with a central warehouse located near Kidderminster.
Trifast operates 22 sites in Europe and international operations across the Far East and USA.
Serco Ryan adds railway, boat building, general industry, domestic appliances and building to Trifast business. Trifast has traditionally focused on the electronics & telecoms, general industrial and automotive related sectors.
In the year ended April 30, 2005, Serco Ryan’s turnover amounted to �41.3 million (US$72.5 million), producing an operating profit of �2.3 million (US$4.04 million). In the year ended March 31, 2005, Trifast produced operating profits of �6.1 million (US$10.7 million) on sales of �104 million (US$182.5 million). Web: trifast.com or sercoryan.co.uk
�2005 FastenerNews.com
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