Sunday, 26 Feb 2017 09:53am EST
BULTEN : 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. (…)
