Bulten continues to grow and relocate its operation in China
Bulten AB (publ) has decided to relocate its operation in China from Beijing to Tianjin. The aim is to expand in the local Chinese market, where Bulten's volumes and growth opportunities increase considerably from a previously relatively low level. The relocation will start in 2018 and is expected to be finalized in late 2019.
“With this move we strengthen our position in China and are able to scale-up future volumes to another level,” says Tommy Andersson, President and CEO of Bulten.
The new plant will be located in XEDA International Industrial Park in Tianjin, approximately 150 km from current plant, where Bulten will rent the premises in a new facility with the latest purification technology. The relocation will start 2018 and is expected to be completed by the end of 2019. The relocation includes an investment of approximately SEK 25 million and the cost is estimated to amount to 16-20 MSEK distributed over the moving period, the main part in 2019.
“With this investment we get an efficient and a more environmental 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”, Says Edith Wang, Bulten’s Managing Director in China.
For further information, please contact:
Tommy Andersson, President and CEO
Tel: + 46 (0)31-734 59 00, e-mail: corporatecommunications@bulten.com
This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10:00 CET on October 25, 2018.
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. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com.
Tags:
