On 3rd April Bossard Group reported it had "achieved broad-based sales and profit growth well above the average and concluded the first quarter of 2018 with its best performance ever."
The statement notes: "Bossard decided on this early publication after market uncertainty began to spread in connection with a major Bossard customer in the US electric vehicle sector. In particular, we would like to clarify that the bolts in the power steering component affected by a recall were not supplied by Bossard. As reported by the media, the manufacturer of the affected component has accepted responsibility.”
Bossard went on: “The current uncertainties surrounding the aforementioned US electric vehicle manufacturer reported by the media have not affected the progress of the Bossard Group nor have they undermined the prospects: Our current global development continues to be strong.” Detailed sales figures for the first quarter will be published on 9 April, as previously announced.
On Thursday 29th March, Tesla announced a voluntary global recall of 123,000 early Model S, informing owners that it had "observed excessive corrosion in the power steering bolts, though only in very cold climates, particularly those that frequently use calcium or magnesium road salts, rather than sodium chloride". Tesla said it was unaware of any injury or accident related to the component but nonetheless plans “to replace all early Model S power steering bolts in all climates worldwide”. Robert Bosch GmbH confirmed it was the component supplier and a spokeswoman was quoted by several German media as saying Bosch "was in close coordination with Tesla and supports the measures being taken".
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 17 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.
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