Bulten has, through its joint venture Ram-Bul in USA, signed a contract to supply fasteners to an undisclosed major vehicle manufacturer.
The annual order value is approx USD $5.5 million, with a delivery value of USD $5 million to Bulten and USD $0.5 million to Ramco.
Deliveries are expected to start in the third quarter 2018 to gradually increase up to full capacity in 2019/2020. After that, deliveries will continue over a number of years related to the life span of the vehicle, normally between 5 to 10 years, with a gradual slowdown as the car model nears its end.
“With this contract, we have made a significant breakthrough on the north American market and further strengthened our position as manufacturer of high quality fasteners," said Tommy Andersson, President and CEO of Bulten. "We see good opportunities to continue to grow the business and increase our market share.”
Headquartered in Gothenburg, Sweden, Bulten AB is a leading supplier of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customised special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. The company was founded in 1873, has some 1,300 employees in nine countries. Bulten recently spoke of an 'underlying demand in automotive' in its latest positive sales results.
