Bulten increases holding in TensionCam
Bulten has acquired an additional 36.5% of the shares in TensionCam Systems AB at a purchase price of SEK 4 million. The acquisition makes Bulten the majority owner with 63.5% of the company’s shares.
In 2020, Bulten acquired a minority holding in TensionCam, a Gothenburg-based company specialized in developing sensors measuring and monitoring clamp loads in screw joints. Since then, TensionCam has initiated several pilot projects with third parties in areas such as wind turbines, water and sewage, and process industry, in which the sensor technology has been integrated into complete screw joints. The aim of the projects is to accelerate development and finalize a concrete customer offering.
“Pilot projects over the past year using TensionCam’s sensor technology have produced positive results. It is now time to begin industrialization and commercialization of the product. This is completely in line with our strategy to diversify our offering with new, practically applicable technology,” says Anders Nyström, President and CEO of Bulten.
“TensionCam has a highly interesting product that’s particularly suitable for installation and monitoring of critical fastener applications, such as large pipe joints and machines that are exposed to various types of stress and strain. These are the kind of applications we believe to be of interest, and ones that can bring new business opportunities for Bulten,” says Emmy Pavlovic, SVP Technology and Innovation at Bulten.
In addition to Bulten, TensionCam is owned by Emergera AB which holds the remaining 36.5% of the company’s shares.
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications & IR, +46 (0)727-47 17 58, email@example.com
Bulten Group is a leading global manufacturer and supplier 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 1,600 employees in 15 countries and is headquartered in Gothenburg, Sweden. Net sales in 2021 totaled SEK 3,730 million. Since 2020, PSM International has been a part of Bulten. The share (BULTEN) is listed on Nasdaq Stockholm.