VARNAMO, Sweden, April 2, 2002 (PRIMEZONE) -- Finnveden Bulten, a company within the Finnveden's Fasteners business area, has purposefully worked for many years toward becoming a major supplier to Nissan. This effort has now resulted in the company being selected as supplier to Nissan's plants in Europe.
Deliveries from Finnveden Bulten to Nissan will start in 2002 and reach an annual rate of approximately SEK 150 M in 2003.
"This is a very large order within the industry," said Tommy Andersson, Business Area Manager, Fasteners, Automotive. "This demonstrates that Finnveden Bulten's strategy to become a full-service supplier, with strong technical knowledge, has been successful."
Currently, fasteners are supplied to Nissan's plants in Europe from Japan, which will now successively be replaced by deliveries from Finnveden Bulten. This business will contribute to a positive earnings trend for Finnveden Bulten.
Finnveden is an international engineering company with three business areas: Fasteners, Powertrain Components and Sheet Metal Components. Customers are in the international engineering industry, primarily the automotive industry. Annual sales amount to about SEK 4,400 M with some 3,500 employees. Additional information about Finnveden is available on its website: www.finnveden.se
This information was brought to you by Waymaker http://www.waymaker.net