Bifogade filer
Kurs
+2,84%
Likviditet
4,69 MSEK
Prenumeration
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Beskrivning
Land | Sverige |
---|---|
Lista | Small Cap Stockholm |
Sektor | Industri |
Industri | Fordon |
Bulten and ZJK Vietnam Precision Components Co., Ltd, a part of the Chinese fastener company ZJK Precision Parts (ZJK), have signed a letter of intent to establish operations in Vietnam through a joint venture. Agreements have been signed between the parties with the aim of starting production in Vietnam in 2025.
The background to the establishment is, as Bulten previously communicated, an increased demand for domestically produced micro screws among international customers in the consumer electronics industry with manufacturing in India and Vietnam. In late 2023 Bulten entered into a joint venture with ZJK and Indian Radium Fasteners Private Ltd (Radium) for the manufacture of micro screws and now a similar establishment is planned in Vietnam.
“Bulten’s strategy is to grow within customer groups outside of automotive, which is our largest and most established segment. In recent years, we have had good development in the consumer electronics segment, especially in Asia, and see this trend continuing. It is against this background that we are now taking the next step and establishing ourselves in Vietnam. This will increase Bulten’s sales volumes and benefit profitability,” says Christina Hallin, Interim President and CEO of Bulten.
The new joint venture plans to rent production facilities, which means limited investment costs and risk-taking for Bulten.
Bulten’s ownership in the planned company will be 51 percent and ZJK Vietnam Precision Components Co., Ltd will own the remaining 49 percent. The proposed joint venture will be called Bulten ZJK Vietnam Company Ltd.
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications and IR, Bulten AB
Phone: +46 (0) 72-747 17 58
E-mail: ulrika.hultgren@bulten.com
About Bulten
Bulten Group is a leading global manufacturer and distributor of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,900 employees around the world and is headquartered in Gothenburg, Sweden. Exim & Mfr Enterprise is a part of Bulten Group since 2023. Net sales in 2023 totaled SEK 5,757 million. The share (BULTEN) is listed on Nasdaq Stockholm.