GÖTEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
FinnvedenBulten continues to grow and has won several deals corresponding to approximately SEK 240 million annually. These, together with the previously announced deal from September 11, 2013 of approximately SEK 270 million (30 MEUR) along with Bulten’s planned production start in Russia, are expected to generate a substantial organic growth for FinnvedenBulten.
“We are delighted that we have been able to sign several contracts during the year and by that further strengthen FinnvedenBulten’s position. Furthermore, there are good opportunities to continue to grow and increase our market shares during next year. As of now, it is especially division Bulten’s full service concept that generates substantial new business,” says Johan Westman, President and CEO of FinnvedenBulten.
The deliveries, starting at the end of 2013 and the beginning of 2014 are expected to reach full capacity during 2015 and continue over a number of years. The new businesses generate an annual value of approximately SEK 600 million, including the start up in Russia with an initial volume of approximately SEK 90 million, and stem from a number of different contracts.
NB: The information in this announcement is required to be disclosed by FinnvedenBulten AB (publ) under the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:30 CET on November 19, 2013.
FinnvedenBulten develops and manages industrial businesses, offering products, technical solutions and systems in metallic materials. The Group operates as a business partner to international customers in the engineering industry, primarily the automotive industry. FinnvedenBulten is structured into two divisions – Bulten and Finnveden Metal Structures – both with strong positions in their respective customer segments. FinnvedenBulten is listed on NASDAQ OMX Stockholm. Further information at www.finnvedenbulten.com.
This information was brought to you by Cision http://news.cision.com