February 26, 2017 / 2:57 PM / 3 years ago

BRIEF-Bulten says forms JV with Ramco in the U.S.

STOCKHOLM, Feb 26 (Reuters) - BULTEN

* Says establishes in USA and forms a joint venture with Ramco for fastener solutions for the North American market

* Says joint venture to be equally owned (50/50)

* Says sets up an U.S. subsidiary for producing externally threaded fasteners for the same market

* Says the operations of both entities are scheduled to start in 2017

* Says joint venture will operate under the name Ram-Bul, headquartered in Ramco’s new corporate headquarters in Hudson, Ohio

* Says total investment is estimated at approximately USD 9 million distributed over four years with start-up in 2017 and the annual business potential for Bulten is estimated at approximately USD 30-40 million at full volumes by 2020

* Says the initiative is expected to have an initial marginal negative effect on Bulten’s results in 2017 and 2018 with approximately SEK 3-4 million per year Source text for Eikon: Further company coverage: (Reporting by Bjorn Rundstrom)

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