Stainless steel fasteners are increasingly being specified across a range of our core sectors, as they offer an environmentally friendly solution which is fully recyclable, high strength and corrosion resistant. Therefore, the opportunity to expand our knowledge base through PTS and, adding highly skilled and experienced people in this key area of the market provides an exciting proposition and a foundation to further growth.
PTS founded in 1988 is based in East Grinstead, UK and employs 27 staff. It is a highly regarded distributor of stainless steel industrial fastenings and precision turned parts, primarily to the electronics, medical instruments, petrochemical, defence and robotics sectors. PTS's emphasis is on delivering high quality products and services, currently selling into c. 80 countries directly through its well-established distributor network, as well as digitally through its newly developed, fully integrated commercial website which lists over 43,000 products for sale. This approach has enabled PTS to continue to deliver strong sales growth in recent times. As TR has experienced a growing demand for stainless steel fastenings from a number of its global OEM customers. Adding the PTS product portfolio will widen the Group's global stock range to enhance its customer offering and provide further support to TR's distributor sales (currently c.10% of Group revenue).