Bulten is awarded a major FSP contract

Bulten has been awarded an FSP (Full Service Provider) contract for supply of fasteners to a European automotive manufacturer which is also one of its existing customers. The contract is a transfer of an ongoing FSP set up for two assembly plants and the annual order value is of approximately EUR 60 million at full pace. Deliveries are estimated to start in the second half of 2020 and extend for a period of five years.

“It is clear that the knowledge and experience Bulten has built up over many years as a global manufacturer and FSP supplier to multiple customers was key to this award. The new contract will provide a good platform to deliver our unique services, our new technologies, and innovative and sustainable solutions for years to come”, says Anders Nyström, President and CEO of Bulten.

The value is approximately EUR 60 million per annum at full pace and the contract runs over a period of five years. The contract is a transfer of an ongoing FSP set up for two assembly plants. Deliveries are estimated to start in the second half of 2020 at current volumes, and are expected to grow to full pace as the automotive industry recovers from the shut-down period caused by Covid-19. Delivery start and possible start-up costs will be announced when the exact date is decided.

For further information, please contact:

Anders Nyström, President and CEO, Bulten
Tel: + 46 31‐734 59 00 or + 46 70 520 5917, 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 17:15 CET on 2 July 2020.
 

Bulten Group 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 1,700 employees in sixteen countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm.