9/9/2014 1:40:00 PM
HEADLINES
FinnvedenBulten Completes Transformation To All-Fastener Company
Tommy Andersson
FinnvedenBulten AB officially changed its name to Bulten AB, the final step in its transformation to a solely fastener company.
In June, FinnvedenBulten sold its Metal Structures division to Shiloh Industries Inc., a U.S. supplier to the automotive industry, for SEK 490 million (US$74.3m). With the sale, Sweden-based FinnvedenBulten said it is focusing exclusively on fasteners.
“The new name better reflects the group’s operations,” the company stated in a press release.
Bulten AB 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.
Following the sale, the company unveiled its new executive team, led by CEO Tommy Andersson and CFO Helena Wennerström.
During the first quarter of 2014, FMS’s share ofFinnvedenBulten turnover was approximately 36 %. Net sales for the full year 2013 were SEK 1,256 million (US$190m).
FinnvedenBulten AB’s shares are currently traded under the ticker FBAB. Because of the resolution to amend the company’s name the share will, as soon as the new name is registered at the Swedish Companies Registration Office, be traded under the ticker BULTEN. Web: finnvedenbulten.com
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