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 specialised 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,” said 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,” said 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.
Earlier this month, Bulten streamlined its supply chain in Sweden.