1 July 2013 – joint venture
When we recommended shares in Tricorn a month ago we said that it was in talks to set up a joint venture in China and the group has now revealed that this has been established. The group is investing £0.39m for a 51% stake in the venture which will manufacture larger diameter tubular assemblies. With its Chinese partner the group will be able to supply new and existing customers with a greater range of products and this development whilst also establishing a growing presence in a key world market. The shares remain a BUY.