Swedish fastener manufacturer Bulten AB is coordinating its U.S. operations with newly acquired PSM International by moving the two operations to a newly built, joint building in Ohio.

“With this relocation, we are strengthening our position in the US while also achieving coordination gains and ensuring capacity to handle future growth,” stated CEO Anders Nyström.

Bulten signed a twelve-year lease agreement of approximately $1 million per year for the new facility, which will be located in Streetsboro between Bulten’s current plant in Hudson and PSM’s in Youngstown.

The $1 million relocation will begin this spring and is expected to be completed by the fall.

Earlier this year, Bulten acquired PSM International for US$24.5 million (SEK 230 million).  Founded in 1931, PSM manufactures and supplies fasteners to international markets, primarily automotive.  The company has approximately 350 employees and production facilities in China, Taiwan and the UK, as well as distribution centers in 22 countries.  Web: psminternational.com

Bulten also recently opened its new automotive fastener factory in Tianjin, China – about 90 miles southeast of Beijing.

Founded in 1873, Sweden-based Bulten supplies fasteners to the international automotive industry, with 1,400 employees in eight countries.  Web: Bulten.com