Bulten is establishing manufacturing operations in India through a newly formed joint venture company – Bulten Radium Industries Private Ltd. The driver is an increased need for domestically produced micro screws among international customers in the electronics sector with production in India.
The new venture includes two partners: Radium Fasteners Private and ZJK Precision Parts HK. 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.
“Our ambition is to increase sales, primarily of micro screws, to companies in the electronics industry,” said Anders Nyström, president and CEO of Bulten. “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.