Bulten AB has reported that its streamlining and realised synergetic effects, along with a new Full Service Provider contract that was signed during 2020, have largely compensated for negative macroeconomic factors currently impacting the market.
Bulten achieved net sales of SEK 910 million in Q2 of 2021, an increase of 106.2% on the same period last year. However, the company was quick to point out that the comparison quarter was severely affected by the pandemic. Compared to Q1 2021, which was more representative of Bulten’s performance in a normalised market, net sales fell by 17.5%, due to lower production among customers during the quarter.
Anders Nyström, president and CEO at Bulten, commented: “The progressive recovery that characterised the global automotive market from the second half of 2020 was interrupted during the second quarter of this year. The shortage of semiconductors is now a clearly inhibiting factor for production across the automotive industry, something both we and others in the industry have warned of previously. Underlying demand in the consumer stage remains strong, but at present vehicle production cannot keep up with demand.”
He continued: “The shortage of semiconductors, along with price rises for steel and shipping, are three macroeconomic and partly geopolitical factors that have resulted in an extreme situation for the entire global industry. These factors are expected to have a further negative impact on Bulten’s sales and margins during the second half of 2021. We are continuing to focus on what we can control and are continuing to strengthen Bulten’s position and offering.”
New Polish production unit
Bulten has also started the construction of a new production unit in Radziechowy-Wieprz, Poland. With production start-up planned for the first half of 2023. This will give Bulten a facility with world-class surface treatment processes in terms of efficiency, quality, and sustainability. The facility is a vertical integration of Bulten’s existing plant in Bielsko-Biala and will further strengthen its competitiveness.
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
Don't have an account? Sign Up
Signing up to Fastener + Fixing Magazine enables you to manage your account details.
