Bulten acquires minority post in TensionCam Systems AB
Bulten has today acquired newly issued shares in TensionCam Systems AB for a purchase price of SEK 6 million. After the acquisition, Bulten becomes the owner of 27% of TensionCam's shares. Thus, Bulten and TensionCam will deepen their cooperation in the development of wireless clamp force monitoring of screw joints.
TensionCam is a Gothenburg-based company, specializing in the development of sensors for clamp force monitoring in screw joints and is, after the new share issue, 73% owned by G-Coder Systems AB. The company, both individually and together with industrial partners and research institutes, conducts research and development in the area and already owns a number of patents. TensionCam's technology is not currently commercialized or industrialized. The deeper cooperation aims to accelerate the completion of ready and concrete customer offers.
"The acquisition of a share of TensionCam is in line with Bulten's strategy of being a technology leader in fasteners and being able to offer customers unique and sustainable functionality, and to facilitate profitable growth even outside the automotive industry," says Anders Nyström, Bulten's President and CEO.
"The in-depth collaboration with Bulten will help TensionCam with the integration of sensor technology into complete screw joints and with the industrialization necessary for commercial success," says Jonas Nilsagård, CEO of TensionCam.
For further information, please contact:
Anders Nyström, President and CEO, Bulten
Tel: + 46 (0)31‐734 59 00, e‐mail: corporatecommunications@bulten.com
Bulten AB (publ) is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer‐specific standard products to customized special fasteners. The company also provides technical development, line‐feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,400 employees in eight countries and head office in Gothenburg. In 2020, Bulten acquired PSM, a fastener supplier with 350 employees. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com
Read more about TensionCam at www.tensioncam.com.