Bulten is strengthening an existing FSP (Full Service Provider) contract for the supply of automotive fasteners, with a further order from a European automotive manufacturer.
The order is worth approximately SEK 68 million per annum, with deliveries estimated to start in Q4 of 2021, reach full pace in 2022, and run for three years.
“The award of further products for an already established FSP contract confirms that our industry-leading position as a full-service provider of fasteners in the automotive industry, along with our responsiveness to customers’ requests, creates new business opportunities for Bulten,” said Anders Nyström, President & CEO of Bulten.
The original FSP contract was awarded to Bulten on 2 July 2020, and has an estimated annual order value of approximately SEK 620 million at full capacity over five years. The extended contract will not require any investments or start-up costs other than those from the original start-up as announced on 7 July 2020.
While the automotive market hasn't had a smooth ride over recent years, Bulten's performance has exceeded expectations, breaking records in Q1 2021. In recent months, Bulten inaugurated a new production facility in Taiwan.
Are you in the fastener, tool, fixing or related industries? You can subscribe to Torque Magazine or sign up to our weekly newsletter.
