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.
Author: Anders Nyström (President and CEO, Bulten)
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