Bulten is continuing to win FSP contracts and has been awarded new business with an annual value of approximately EUR 30 million

2017-07-07Press release

Bulten has been awarded a new FSP (Full Service Provider) contract for supply of fasteners to a major automotive manufacturer. The annual order value is of approximately EUR 30 million and provides a strong relationship for the years ahead.

“With this contract, Bulten strengthens its relationship with a global customer. This is a contract where Bulten has and will contribute in the early development phase and we are delighted and honoured to be awarded the contract and look forward to continue the collaboration,” says Tommy Andersson, President and CEO of Bulten.

The technical competences within Bulten, along with many years of experience of successfully supplying complex and critical fasteners to the automotive industry, were the main contributors in winning this prestigious contract. Deliveries will start in the end of 2018 to gradually increase up to full capacity in 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. The full annual value is expected to reach EUR 30 million in 2020 and then follow the life span of the vehicle and the volume curve.

“We continue to strengthen Bulten’s position and we have good potential to further grow our business and gain market shares in the years to come,” says Tommy Andersson.

For further information, please contact:
Tommy Andersson, President and CEO, Bulten
Kamilla Oresvärd, SVP Corporate Communications
Tel: + 46 (0)31‐734 59 00, e‐mail: kamilla.oresvard@bulten.com

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the SVP Corporate Communications set out above, at 14:00 CET on 7 July, 2017.

Bulten is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,300 employees in nine countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. More information can be found at www.bulten.com.