Bulten AB reported sales for the first quarter 2017 increased 8.8% to SEK 778 million (US$90.7 million), Fastener + Fixing Magazine reports.

Operating earnings (EBIT) grew 14.5% to SEK 63 million, corresponding to an operating margin improved from to 8.1%. Earnings after tax were SEK 51 million, up 27.5%.

“During the quarter we strengthened our position on the North American market by establishing a production company and a joint venture with Ramco in Hudson, Ohio, USA,” stated CEO Tommy Andersson. “We can now offer our FSP concept on the American market.

“Bulten’s production for fasteners in the US is expected to start at the end of 2017.”

Bulten formed a 50/50 joint venture with Ramco Specialties Inc. to distribute fasteners to the North American automotive industry, Bulten CEO Tommy Andersson announced.

The JV will operate as Ram-Bul LLC and be headquartered at Ramco’s Ohio facility.  

Bulten also is entering the North American manufacturing market with a subsidiary to produce it’s externally threaded fasteners beginning later in 2017. 

In 2015, Ramco constructed a 165,000 sq ft facility in Hudson, OH, where Bulten will operate its production subsidiary, Bulten North America LLC. Web: bulten.com