12/15/2014 1:03:00 PM
NEWS BRIEFS
Bulten Unveils Plans For Facility in Poland
Proposed facility in Poland
Bulten plans to open a new logistics center in Poland in 2015.
“This will free space in the existing operation and create opportunities for additional production capacity,” the company stated. “Premises for the new logistics centre will be rented and equipment will fall within the ordinary investment plan.”
The announcement follows news that the group inaugurated its Russian production facility in Gorky Automotive Plant in late October. The factory is Bulten’s first in Russia, and was dubbed “the first modern manufacturing unit of fasteners for the automotive industry in the country,” according to Bulten.
“We started production in the business at the end of September – initially in small scale but with a planned gradual increase in volume,” commented CEO Tommy Andersson.
“The geopolitical situation continues to be uncertain but has not changed our plans to establish our business in Russia and the interest from customers remains very high.”
As part of the venture, a 12,500 square meter production facility has been renovated, with international modern machinery installed to enable all process steps in production.
Bulten is the former FinnvedenBulten AB, which officially changed its name in September to Bulten AB, the final step in its transformation to a solely fastener company.
Bulten reported third quarter sales jumped 36.2% to SEK 593 million, with earnings reaching SEK 25 million, which corresponds to an operating margin of 4.2%.
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