Bulten completes divestment of Russian operation
Bulten has today signed an agreement to divest its Russian operation to the Russian company CAR SEATS LLC, and to redeem the Russian automotive manufacturer GAZ’s shares in the joint venture that Bulten and GAZ have owned since 2012.“I am pleased that in a short time we have been able to reach a solution. For us this means that we can now focus fully on long-term sustainable markets,” says Anders Nyström, President and CEO of Bulten. The purchase price corresponds to approximately SEK 10 million. The financial net effect on Bulten’s profit and loss amounts to a preliminary SEK -85