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Bulten Signs “Breakthrough” U.S. Automotive Contract

Bulten Signs “Breakthrough” U.S. Automotive Contract
August 03
11:42 2017


Bulten signed a contract to supply fasteners to a “major vehicle manufacturer” in the U.S. The deal was conducted through its U.S. joint venture, Ram-Bul.

The annual order value is approximately $ 5.5 million, with a delivery value of $5 million to Bulten and $500,000 to Ramco.

“With this contract, we have made a significant breakthrough on the north American market and further strengthened our position as manufacturer of high quality fasteners,” stated CEO Tommy Andersson. “We see good opportunities to continue to grow the business and increase our market share.”

Deliveries are expected to start in the third quarter of 2018, increasing to full capacity in 2019/2020. After that, deliveries will continue over a number of years related to the life span of the vehicle, which is normally between 5 to 10 years, with a gradual slowdown as the car model nears its end.

Bulten formed a 50/50 joint venture with Ramco Specialties Inc. to distribute fasteners to the North American automotive industry. Established in the opening quarter of 2017, the JV operates as Ram-Bul LLC and is headquartered at Ramco’s 165,000 sq ft facility in Hudson, OH.

Bulten is investing $9 million over four years with a potential for sales of $30 million to $40 million by 2020.

Founded in 1873, Bulten supplies automotive fasteners internationally from facilities in Sweden, China, Russia, UK, Germany and Poland and is headquartered in Goteborg, Sweden. Bulten has 1,300 employees in nine countries and the company is listed on Nasdaq Stockholm. Web: Bulten.com

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