- Trifast has proposed a 27m euros acquisition of Viterie Italia Centrale (VIC), manufacturers and distributors of fastening systems. The deal would enhance Trifast's offering and European footprint.

It said VIC was complementary to the group's business model and significantly strengthens TR's presence in the domestic appliance market whilst also offering TR additional opportunities in existing electronic and automotive tier-1 markets.

Completion was expected on 30 May 2014 subject to general meeting approval. The deal would be funded from a new bank facility and minimal dilution arising from the allotment of consideration shares to the vendor.

Story provided by