6/30/2014 1:38:00 PM
NEWS BRIEFS
FinnvedenBulten Realigns Management Team
Tommy Andersson
Helena Wennerström
FinnvedenBulten announced its new executive management team.
Tommy Andersson, 61, is president and CEO. Andersson has been with the group since 2000. He has served as head of the Bulten division since 2001 and executive VP of FinnvedenBulten since 2011. Holdings in FinnvedenBulten: 182,868 shares.
Helena Wennerström, 49, is executive VP and CFO. She started with the group in 2002, and has been CFO of FinnvedenBulten since 2009 and CFO of Bulten since 2006. Holdings in FinnvedenBulten: 92,590 shares.
Magnus Carlunger, 47, is senior VP of Technology and Business Development. He started with the group in 1995, and has served as managing director of Bulten Sweden AB since 2003. Holdings in FinnvedenBulten: 8,000 shares.
Torbjörn Hjerpe, 64, is senior VP of Purchasing. Hjerpe joined the group in 2004 as VP of Quality, Environment and Purchasing for Bulten. Holdings in FinnvedenBulten: 24,442 shares.
Anders Karlsson, 65, is senior VP of Marketing and Sales. Karlsson, who currently serves as president of the European Industrial Fasteners Institute, joined the group in 1975, and has served as VP of Marketing since 2003. Holdings in FinnvedenBulten: 23,842 shares.
Jörg Neveling, 54, is senior VP of Production. Employed by the group since 1995, Neveling has been production VP for Bulten since 2005 and managing director of Bulten GmbH since 2009. Holdings in FinnvedenBulten: 23,842 shares.
Kamilla Oresvärd, 47, is senior VP of Corporate Communications. She has been with the group since 2005, and since 2011 has served as VP of FinnvedenBulten. Holdings in FinnvedenBulten: 300 shares.
“The new President and CEO and the new executive management team take up their positions on July 1, 2014 and will concentrate fully on the growing international fasteners business,” the group stated in a press release.
In connection with the closing of the sale of division Finnveden Metal Structures on June 30, employee representatives Katarina Olsson and Peder Johansson (deputy), both employed by Finnveden Metal Structures, resigned from their assignments in FinnvedenBulten’s board.
Finnveden sold its Metal Structures division to Shiloh Industries Inc., a U.S. supplier to the automotive industry, for SEK 490 million (US$74.3m). With the sale of the metal structures division, Sweden-based FinnvedenBulten said it is focusing on fasteners.
During the first quarter of 2014, FMS’s share of FinnvedenBulten turnover was approximately 36 %. Net sales for the full year 2013 were SEK 1,256 million (US$190m).
The intention is also to change the name from FinnvedenBulten AB to Bulten AB, which requires a general meeting.
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 the automotive industry.
As of March 31 2014, the group’s 12-month sales amounted to SEK 3,252 million (US$493m), of which division Bulten’s amounted to SEK 1,967 million (US$298m). FinnvedenBulten is listed on the NASDAQ OMX Stockholm. Web: finnvedenbulten.com
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