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Gaz OAO and Bulten AB Create Joint Venture-SKRIN Newswire


Thursday, 27 Dec 2012 12:12am EST 

SKRIN Newswire reported Gaz OAO that and the Swedish manufacturer of fastener details Bulten AB - one of companies of international industrial group FinnvedenBulten - signed an agreement about the joint venture creation for fastener detail production in facilities of Nizhny Novgorod plant. The new enterprise will be the first production site of FinnvedenBulten in Russia and it will be the first domestic manufacturer by the production of fastener details of world level. Investments of company Bulten will be about EUR 7,000,000. The annual turnover of production activity, which will enter the perimeter of joint venture, is currently about EUR 11,000,000 and it is expected the significant potential for the future growth. The joint venture will develop and produce fastener details for automotive industry of Russia and CIS countries. Products of joint venture will be also delivered to international clients of company Bulten that also localized their productions in Russia. Nizhny Novgorod plant will provide the production infrastructure and company Bulten will be responsible for the development of new products, new technologies and distribution. The production start should be at the end of 2013. 

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