Bulten Radium Industries Private is being formed due to an increased need for domestically produced micro screws among international customers in the electronics sector with production in India.
Anders Nyström, president and CEO of Bulten, said: "Our ambition is to increase sales, primarily of micro screws, to companies in the electronics industry. India is a growing market for this segment, as many international manufacturers of electronics are locating more and more of their Asian production in India. This is the driver behind our new operation in India, and we plan to begin production during the first half of next year.”
The operation will be based at a new production plant currently being constructed in Jamnagar, in the western Indian state of Gujarat. The aim is to be fully up and running during the second quarter of 2024, and to have about 50 employees. The building will be leased by Bulten Radium Industries Private.
Bulten has a 51% holding in the newly formed joint venture company. ZJK has previously been a partner to Bulten for the manufacture of micro screws in China, and Radium is a newly formed company owned by experienced players in the fastener industry in India.
As well as the newly started JV company, Bulten also operates in India through the newly acquired distribution company Exim Mfr & Enterprise.
