Bulten awarded further Electric Vehicle Drive Technologies FSP contract

2018-11-23Press release

Bulten has strengthened its Electric Vehicle FSP (Full Service Provider) Portfolio through the award of a further contract from a major European automotive manufacturer. The contract is initially valued at approximately  EUR 5 million per annum and will launch in 2020 extending for a period of 5 years.

“The award of a second Electric Vehicle FSP contract in a short space of time confirms that the approach and expertise Bulten brings to this field is recognised and appreciated by major OEM’S within the automotive industry”, commented Tommy Andersson, President and CEO of Bulten.

The main drivers in winning this award were the industry leading position Bulten has in the Electric Vehicle market along with many years’ experience of meeting and exceeding customer expectations in the business of automotive fastener supply.

The contract is initially valued at EUR 5 million per annum and then follows the vehicles volume curve.

Deliveries are expected to start September 2020 to gradually increase up to full capacity in 2021 and continue for a period of 5 years.

For further information, please contact:

Tommy Andersson, President and CEO, Bulten
Tel: + 46 (0)31‐734 59 00, 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 SVP Corporate Communications set out above, at 08:30 CET on 23 November, 2018.

Bulten 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 1,400 employees in eight countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. More information can be found at www.bulten.com.