The deal is worth approximately SEK 10 million (1.1 million euros) annually and continues over an unspecified number of years.
“Bulten has for a number of years backed a fully owned factory in China with local manufacturing of high quality fasteners. An important part of our strategy for organic growth is to expand on growth markets and the fact that we have signed a new contract in China is very pleasing,” says Tommy Andersson, CEO of Bulten.
The contract starts in 2014 and involves deliveries of fasteners to both car production and drivelines. “The contract means that we will advance the position of our Bulten division in the Chinese market and we see good potential for continued growth in China in the years to come,” says Johan Westman, president and CEO of FinnvedenBulten.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.