Insight

The Estonian market for fasteners is, similar to the country’s economy, small and open, which is largely why it has also been highly dynamic over the course of the last few decades.

From simple offers of low cost goods and cost-effective solutions the market has evolved into an industry that relies on customer needs, seeks technical solutions and provides high-quality service. It is safe to say that most of the companies active in the Estonian fastener market have found their strengths and keep developing them even further.

In the course of developing this sector in Estonia, we have followed the positive example of the Nordic countries and Europe, and our cooperation with these neighbours will certainly continue. At the same time, we also find examples in our closest neighbours Latvia and Lithuania whose proximity affects us economically, as any economic problems in these neighbouring countries are also immediately visible in Estonia. For the purposes of hedging, our small market needs to be very comprehensive and involve all companies and individuals requiring fasteners.

Estonia still lacks a serious domestic fastener manufacturer. Baltic Bolt has certainly become closer to its customers in the Estonian fastener market over the course of the last ten years, simultaneously on several levels. We have expanded our product range to involve associates from as many sectors as possible. Also, we have created and developed a chain of retail outlets for our private customers, and used our products and services to become increasingly present in the production facilities of our corporate clients.

Similar trends are characteristic of almost all companies providing fasteners in the Estonian market, and it is safe to say that there are certainly more fasteners in Estonia today than there was some twenty years ago. Fasteners and the companies trading in this sector have become more visible while the knowledge and skills present in the firms have become more valued.

Based on this strategy we have steadily expanded our customer base and found solutions for serving our customers in a way that brings satisfaction to all parties. Given that the Estonian fastener market is small, the investments that we have made in order to involve various sectors have also provided us with a positive result and a greater certainty about the future.

Today the fastener sector is moderately growing in Estonia, and despite the general pessimism in the economy the companies trading in fasteners share optimistic views of the future. The above mentioned investments have expanded our activities, providing Baltic Bolt with an important advantage in the local fastener market – in 2016 we expect a growth of 4% – 5%.

In order to further develop the Estonian fastener market we need to be flexible and respond quickly to our customers’ growing demands. We plan to improve the security of supply and to be active in promoting the development of new products. Our excellent relationship with customers can be further advanced by closer and deeper cooperation with our European partners and wider implementation of their product range – combined with the introduction of customer oriented training. We have been and will remain an important link between European fastener manufacturers and local customers,

noting that the ‘know-how’ of Estonian companies has become rather remarkable over the years.

An example is the provision of new technical solutions in the construction sector, which has recently seen some major changes in building materials – reaching for new horizons in higher energy efficiency. The CE Marking, which is based on the Construction Products Directive, has created demand for new product groups in the construction sector. This in turn requires us to develop a new approach and to transfer the respective information to our customers.