Bulten, via its subsidiary PSM International Holdings Limited (PSM), has signed a strategically important agreement in China regarding the supply of fasteners to a leading provider of consumer electronics.
The agreement has an estimated annual value of approximately SEK 50 million (€4.9 million).
“This is a strategically important contract for us, as it further diversifies our customer base and strengthens our position on the Asian market. It is an effect of our earlier acquisition of PSM, which provides good opportunities to grow in Asia and in various segments, including consumer electronics,” says Anders Nyström, president and CEO of Bulten.
Bulten extends existing automotive FSP contract
Bulten is also strengthening an existing FSP (Full Service Provider) contract for the supply of fasteners, with a further order from a European automotive manufacturer.
The order is worth approximately SEK 68 million per annum (€6.6 million). Deliveries are estimated to start in the fourth quarter of 2021, will reach full pace in 2022, and will run for three years.
“The award of further products for an already established FSP contract confirms that our industry leading position as a full service provider of fasteners in the automotive industry, along with our responsiveness to customers’ requests, creates new business opportunities for Bulten,” comments Anders Nyström.
The original FSP contract was awarded to Bulten on 2nd July 2020 and has an estimated annual order value of approximately SEK 620 million at full capacity over five years. The extended contract will not require any investments or start-up costs other than those from the original start-up.
Having joined the magazine in 2012, Claire developed her knowledge of the industry through the numerous company visits, exhibitions and conferences she attended both in the UK and abroad.
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