Bulten completes the acquisition of Exim & Mfr Holdings Pte Ltd
Bulten today announces that the acquisition of Exim & Mfr Holdings Pte Ltd “Exim” has been completed. Closing of the transaction follows the announcement on July 6, 2023, that Bulten has signed an agreement to acquire Exim for a purchase sum of approximately SGD 66.3 million (SEK 540 million) on a cash-free and debt-free basis.
Exim, established in 1982 and based in Singapore, distributes fasteners and other c-parts*, along with related services from more than 1,800 manufacturers and suppliers for American, European, Indian and Japanese companies operating in Asia. The company has more than 1,000 customers in a range of sectors including telecom, electronics, energy, medical technology, aviation, and other industrial manufacturing. Exim has approximately 140 employees in Singapore, India, Indonesia, Malaysia, Thailand, the Philippines and Vietnam, and annual sales of about SGD 40 million (SEK 320 million).
“I am delighted that we now have completed the acquisition of Exim. It is an important milestone as we are now broadening our business within the distribution chain and thereby creating future opportunities for us to grow within new customer groups,” says Anders Nyström, President and CEO of Bulten.
Felix Lian, newly appointed Managing Director of Exim, will be responsible for leading and developing the company further, and will report to the President and CEO of Bulten. He previously worked for Klingspor in the role of Regional Managing Director ASEAN.
The press release regarding the acquisition from July 6, 2023, is available at www.bulten.com.
*Components with a low unit price that manufacturing companies stock in large quantities.
For further information, please contact:
Ulrika Hultgren, SVP Corporate Communications & IR, +46 727-47 17 58, [email protected]
This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11:30 CEST on August 31, 2023.
Bulten Group is a leading global manufacturer and supplier of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,600 employees around the world and is headquartered in Gothenburg, Sweden. Net sales in 2022 totaled SEK 4,474 million. The share (BULTEN) is listed on Nasdaq Stockholm.