Bulten has made the decision to relocate its operations in China from Beijing to Tianjin, with the aim of expanding in the local Chinese market.
The relocation is due to be finalised in late 2019, providing the opportunity for the supplier's volumes and growth opportunities to increase considerably.
Bulten's Managing Director in China, Edith Wang, said of the move: "With this investment we get an efficient and a more environmentally friendly production with more capacity to handle future growth. I am looking forward to this opportunity that will bring Bulten to another level on the Chinese market."
The new premises, fitted with the latest purification technology, will be located in Tianjin's XEDA International Industrial Park which sits about 150km from the current plant. The relocation cost includes an investment of SEK 25 million, alongside costs distributed over the moving period expected to reach between SEK 16-20 million.
Tommy Andersson, President and CEO of Bulten, said: With this move we strengthen our position in China and are able to scale-up future volumes to another level."
In May, Bulten announced a strong start to the year, recording a positive Q1 with net sales up 9.6% on the same period last year, reaching SEK 853 (778) million.
Andersson said at the time: “The outcome of the first quarter confirmed that Bulten is in a new growth phase, with higher net sales and order bookings of 9.6% and 8.2% respectively. The growth is an effect of an increase in previously announced contracts and a major model shift at a customer, which is now in full production."
One of the leading suppliers of fasteners to the international automotive industry, Bulten's product range encompasses: customer-specific standard products, customised fasteners, technical development, line-feeding, logistics and material and production expertise.
Bulten's growth seems to be continuing elsewhere too, as the supplier was awarded an Electric Vehicle Drive technologies FSP contract by a European automotive manufacturer, valued at EUR 2 million per annum, earlier this month.
