Bulten announces delivery start and start-up costs for newly won FSP contract

2020-07-07Press release

On 2 July 2020, Bulten announced that the company had signed a FSP (Full Service Provider) contract  for supply of fasteners to a European automotive manufacturer at an annual value of approximately EUR 60 million at full pace. Date for delivery start is now set for July 24, 2020 and start-up costs are estimated to amount to approximately EUR 1 million.

As previously announced, the contract is a transfer of an ongoing FSP set for two assembly plants and the annual value amounts to approximately EUR 60 million at full rate and extends over five years. The start of delivery is set for July 24, 2020 and start-up costs are expected to amount to approximately EUR 1 million during the initial quarters after taking over. The contract will improve the utilization of a number of manufacturing facilities for Bulten and its supplier base, and will not require major investments. Marginal improvements are expected when the new contract is fully implemented and optimization has been carried out.

For further information, please contact:

Anders Nyström, President and CEO, Bulten
Tel: + 46 31‐734 59 00 or + 46 70 520 5917, e‐mail: corporatecommunications@bulten.com

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:30 CET on 7 July 2020.

Bulten Group is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,700 employees in sixteen countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm.