12/3/2013 1:07:00 AM
NEWS BRIEFS
Bulten Signs Auto Fastener Contract in China
FinnvedenBulten’s division Bulten strengthened its presence in the Chinese market by signing a contract to deliver fasteners to an automotive manufacturer in China. The multi-year order is annually valued at approximately SEK 10 million.
“Bulten has for a number of years back a fully owned factory in China with local manufacturing of high quality fasteners,” says Tommy Andersson, CEO of Bulten. “An important part of our strategy for organic growth is to expand on growth markets.”
The contract, starting in 2014, concerns deliveries of fasteners to both car production and drive lines.
“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 FinnvedenBulten CEO Johan Westman.
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 automotive.
FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Web: finnvedenbulten.com ©2013 GlobalFastenerNews.com
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