Bulten AB (publ) establishing manufacturing operations in India through a newly formed joint venture company - Bulten Radium I Industries Private Ltd. - alongside two partners: Radium Fasteners Private Ltd. (Radium) and ZJK Precision Parts HK (ZJK). The driver is an increased need for domestically produced micro screws among international customers in the electronics sector with production in India. 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 Ltd. and therefore involves only limited investment costs for Bulten. 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.