VARNAMO, Sweden, April 22, 2003 (PRIMEZONE) -- Bufab, the leading supplier of fasteners in the Nordic region, further strengthened its international position through strategic agreements with Ensto, Ericsson and SPS Technologies. The concluded contracts are valued at about SEK 50 M annually.
Bufab will be a new supplier to all of the Ensto Group's plants in Finland, Estonia and Poland. The Ensto Group is an international industrial group that specializes in the development, manufacture and marketing of electrical systems and electrical material. The Ensto Group had sales of SEK 1.6 billion in 2002.
Through a global contract, Bufab is intensifying and broadening its cooperation with Ericsson. The contract also covers delivery to the world-leading contract manufacturers within the telecom sector. At the same time a sub-agreement was concluded for the Chinese market, where Bulten China will be responsible for deliveries. Bufab has well-established relations with Ericsson for many years as supplier of fasteners to new technical applications.
In addition, Bufab has given cooperation partner SPS Technologies exclusive rights to represent its internally developed Bumax range on the US market. The Bumax range comprises stainless steel and corrosion-resistant fasteners with very high performance regarding weight and strength. Bumax has quickly become a strong brand among European customers. SPS Technologies has annual sales of fasteners in North America amounting to slightly more than SEK 6 billion and is one of the most prominent suppliers to the engineering industries, particularly within the aerospace industry.
Bufab in brief
Bufab, part of the Finnveden Group, offers a wide range of fasteners and holds a leading position in Europe. The product offering comprises more than 90,000 items. Most are standard products, while 30 percent are customer-specific special fasteners. Customers are located throughout the world within a number of industry segments. Customers include Partek, Ericsson, Nokia, ABB, Electrolux, Husqvarna, ITT Flygt, IKEA and Kinnarps and many others. Bufab has annual sales of slightly more than SEK 900 M, with about 400 employees.
Finnveden AB (publ)
For additional information, contact: Hans Bjorstrand, President Bufab Group, +46 370 69 69 01.
Finnveden is an international engineering group, with strong market positions in the automotive industry. Products include fasteners, engine components and sheet-metal components. Finnveden is listed on Stockholmsborsen (Stockholm Exchange) and has annual sales of about SEK 4.5 billion, with 3,500 employees. Additional information is available on Finnveden's website: www.finnveden.se
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