Bulten sign contract with Chinese automotive manufacturer
By FinnvedenBulten , 2013-12-04 12:00:00
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FinnvedenBulten’s division Bulten has signed a strategically important contract for delivery of fasteners to an automotive manufacturer in China and will thereby strengthen its presence on the Chinese market. The annual order value is approximately SEK 10 million and continues over a number of years.
“Bulten has for a number of years back a fully owned factory in China with local manufacturing of high quality fasteners. An important part of our strategy for organic growth is to expand on growth markets and the fact that we have signed a new contract in China is very pleasing,” says Tommy Andersson, CEO of Bulten.
The contract, starting in 2014, concerns deliveries of fasteners to both car production and drive lines and will continue over a number of years.
“The contract means that we will advance our position for division Bulten on the Chinese market and we see good potential for continued growth in China in the years to come,” says Johan Westman, President and CEO of FinnvedenBulten.
FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm.
