Bulten signs FSP contract with clear sustainable objectives
Bulten has signed an FSP (Full Service Provider) contract regarding the supply of fasteners to a new European vehicle program for a global automotive manufacturer, which also is an existing customer of the company. The contract value is approximately SEK 100 million annually at full capacity.
One decisive reason why Bulten was awarded the contract is the company’s distinct sustainability offer. Besides deliveries of fasteners, the contract also entails a close collaboration between the parties to reduce environmental impact in the value chain. This means Bulten will commit to a number of environmental targets during the contract period, with the aim of supporting the automotive manufacturer’s overall sustainability objectives. The targets will be set jointly by both parties and monitored on a regular basis.
“Of course we are delighted to once again be appointed FSP supplier to an existing customer. It shows that our performance is valued. However, I am particularly proud that we are awarded business based on sustainability, and that we now have a tangible collaboration with a customer to reduce environmental impact. It is a true milestone, and we know that sustainability will be increasingly important to our customers when they choose suppliers,” says Anders Nyström, President and CEO of Bulten.
Deliveries are expected to begin in the third quarter of 2023, and to reach full capacity in 2025. The new European vehicle program has an expected lifecycle of ten years.
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications & IR, +46 727-47 17 58, ulrika.hultgren@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 11:30 CET on 20 January 2022.
Bulten Group is a leading global manufacturer and supplier of fasteners to the automotive industry, as well as other customer groups such as consumer electronics and home appliances. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept, customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,700 employees in 16 countries and is headquartered in Gothenburg, Sweden. Net sales in 2020 totaled SEK 3,195 million. Since 2020, PSM International has been a part of Bulten. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at ww.bulten.com.
Tags: