Brief: Bulten says forms JV with Ramco in the U.S.

Bulten AB

26/02/2017 14:53

STOCKHOLM, Feb 26 (Reuters) - BULTEN  BULTEN.ST  
    * Says establishes in USA and forms a joint venture with 
Ramco for fastener solutions for the North American market 
    * Says joint venture to be equally owned (50/50) 
    * Says sets up an U.S. subsidiary for producing externally 
threaded fasteners for the same market 
    * Says the operations of both entities are scheduled to 
start in 2017     
    * Says joint venture will operate under the name 
Ram-Bul, headquartered in Ramco's new corporate headquarters in 
Hudson, Ohio 
    * Says total investment is estimated at approximately USD 9 
million distributed over four years with start-up in 2017 and 
the annual business potential for Bulten is estimated at 
approximately USD 30-40 million at full volumes by 2020 
    * Says the initiative is expected to have an initial 
marginal negative effect on Bulten's results in 2017 and 2018 
with approximately SEK 3-4 million per year 
 
Source text for Eikon:  ID:nWkr3dXddD  
Further company coverage:  BULTEN.ST  
 
 (Reporting by Bjorn Rundstrom) 
 ((bjorn.rundstrom@thomsonreuters.com; 08-7001122;))