Bifogade filer
20231121 Pressrelease Indian JV
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Industri |
| Industri | Fordon |
"Our ambition is to increase sales, primarily of micro screws, to companies in the electronics industry. India is a growing market for this segment, as many international manufacturers of electronics are locating more and more of their Asian production in India. This is the driver behind our new operation in India, and we plan to begin production during the first half of next year,” says Anders Nyström, President and CEO of Bulten.
The operation will be based at a new production plant currently being constructed in Jamnagar, in the western Indian state of Gujarat. The aim is to be fully up and running during the second quarter of 2024, and to have about 50 employees. The building will be leased by Bulten Radium Industries Private Ltd. and therefore involves only limited investment costs for Bulten.
Bulten has a 51 per cent holding in the newly formed joint venture company. ZJK has previously been a partner to Bulten for the manufacture of micro screws in China, and Radium is a newly formed company owned by experienced players in the fastener industry in India.
As well as the newly started JV company, Bulten also operates in India through the newly acquired distribution company Exim Mfr & Enterprise.
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications & IR, +46 727-47 17 58, ulrika.hultgren@bulten.com
Bulten Group is a leading global manufacturer and distributor of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,800 employees around the world and is headquartered in Gothenburg, Sweden. Exim & Mfr Enterprise has been part of Bulten Group since 2023. Net sales in 2022 totaled SEK 4,474 million. The share (BULTEN) is listed on Nasdaq Stockholm.