Swedish fastener manufacturer Bulten inaugurated its new automotive fastener factory in Tianjin, China, on November 22.

“Bulten is gradually growing as an international supplier of fasteners,” stated CEO Anders Nyström. He added that the facility “strengthens our platform in China, which is the world’s largest car market.”

Bulten manufactures fasteners in six countries and established its operation in Beijing in 1996. The newly built facility in Tianjin, which is about 90 miles southeast of Beijing, creates “better conditions for expansion,” as well as helps meet sustainability goals, the company stated.

At an estimated cost in excess of SEK 41 million (US$4.3 million), the move provides Bulten a “modern and fully integrated plant with cold forming, heat treatment and surface treatment,” becoming one of the few fastener suppliers in China that controls all steps in the manufacturing process in-house.

During the third quarter of 2019, Bulten sales declined 0.6% to SEK 718 million, adversely affected by restructuring in Germany and a lower production rate for the period. The company posted an operating loss of SEK 8 million and an operating margin of -1%.

“The decline in the automotive markets continued during the third quarter, and the weaker demand was reflected in Bulten’s volumes,” Nyström stated.

Nine-month sales decreased 3.2% to SEK 2.31 billion, with operating earnings dropping 56% to SEK 71 million and operating margin halved to 3.1%. Web: Bulten.com