Fastener World News

China
Fastener World
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compiled by Fastener World

Association NewsJim Degnan Elected NFDA President for 2023-2024
Jim Degnan of S. W. Anderson has been elected as the 2023-2024 president of the National Fastener
Distributors Association. Scott McDaniel of TR Fastenings will serve as vice president, Mike Robinson of
LindFast Solutions Group will serve as associate chair, and Nick Ruetz of AIS will remain on the Board
as immediate past president.
Steve Andrasik of Brighton Best International, Alex Goldberg of AMPG, Scott Longfellow of Huyett,and Ed Smith of Würth Revcar have been elected to serve on the Board of Directors effective June 13,2023. Continuing on the NFDA Board are Gigi Calfee of Copper State Bolt & Nut, Jake Glaser of Sherex
Fastening Solutions, and Melissa Patel of Field.
Recognition was paid during the meeting to retiring Board members Kelly Charles of Sems & Specials, Jon Queenin ofSpecialty Bolt & Screw, and Kevin Godin of AFC Industries. A special tribute was made in memory of Marc Somers of MidStates Bolt & Screw.

EazyStock Becomes Associate Member of BIAFD,
British & Irish Association of Fastener Distributors
EazyStock, a leading inventory optimisation software provider, is pleased toannounce its recent partnership with the British & Irish Association of Fastener Distributors (BIAFD) as an associate member.
This collaboration aims to support the BIAFD’s efforts in keeping their members informed on fastener-related issues and helping
the fastener industry streamline operations and increase profitability.
The BIAFD is a well-respected organisation dedicated to promoting the interests of fastener distributors throughout the UK
and Ireland. As an associate member, EazyStock is excited to contribute to the association’s mission to enhance the industry’s
efficiency and competitiveness.

China Fastener World no.69/2023

As inventory optimisation specialists, EazyStock’s experts provide fastener industry professionals with advanced tools andtechniques to set the right stock levels, manage stock replenishment, and forecast demand accurately. The result is efficient supply
chain management, ensuring crucial components reach their destinations on time.

Industry Development
Chinese New Energy Cars Accelerate Entry to ASEAN
ASEAN has become a popular destination for Chinese exports of new energy vehicles. The market share of Chinese automobile
brands in the ASEAN region is gradually expanding. In 2022, Wuling Motors' sales in Indonesia exceeded 30,000 units, a yearon-year growth of 17%; Great Wall Motor has nearly 20,000 ASEAN smart car owners; BYD has been the champion of Thailand's
new energy vehicle sales for several months in a row.

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Fastener World News
Jiaxing City (China) FastenerExport to ASEAN up 76% in H1
2023

In recent years, ASEAN countries have intensively launched new
green industry policies. For example, Malaysia has introduced a series oftax incentives for imported and locally assembled pure electric vehicles,
including exemptions from import duty and domestic tax for imported pure
electric vehicles. Officials have planned to build 10,000 public charging
facilities nationwide by 2025, and by 2030 EVs will account for 15% of thecountry's total vehicle sales.
In Indonesia, all vehicles of state agencies and their regional offices are
required to be gradually converted to EVs, and the national EV charging
network is being expanded. Indonesia's national electricity company said
it is striving to build 25,000 EV charging stations by 2030. Thailand has
lowered tariffs on imports of new energy vehicles and parts, and provided
purchase subsidies for new energy vehicles.

Chinese Fastener Export
Statistics (H1 2023)
From January to June 2023, the export weight ofChinese fasteners was 2,374,964 tons, compared withthe same period in 2022, a decrease of 96,603 tons,
down by 3.6% year-on-year; the export value was
5.891 billion USD, compared with the same period
in 2022, a decrease of 483.23 million USD, a year-

China Fastener World no.69/2023

BYD announced the construction of a passenger car plant in Thailand;
SAIC and other Chinese automobile companies have also announced theconstruction of overseas passenger car and new energy vehicle component
production bases in Thailand.

Data by Jiaxing Fastener Importers and Exporters
Association show that in the first half of 2023,
Jiaxing City exported a total of USD 813 million
worth of fasteners, a year-on-year decline of 18.99%.
The largest export market for Jiaxing City is EU
with an export value of USD 202 million, a year-onyear decline of 27.09%, accounting for 24.86% of
the city's export. The second largest export market isthe U.S., with an export value of USD 138 million,a year-on-year decrease of 42.41%, accounting for16.96% of the city's export value. The third largest
export market is ASEAN, with an export value of
US$121 million, a year-on-year increase of 76.36%,
accounting for 14.86% of the city's export value.

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115

Fastener World Newson-year decrease of 6.9%. In June 2023, China's exports offasteners amounted to 456,289 tons, and the export value was936.64 million USD.
The average export price of Chinese fasteners in JanuaryJune 2023 was 2,500 USD per ton, while the average export
price of fasteners in January-June 2022 was 2,600 USD per
ton. The average export price in June 2023 was 2,100 USD
per ton.
In June 2023, the export weight of Chinese fasteners was
456,289 tons, compared with the same period in 2022, adecrease of 28,353 tons, a year-on-year decline of 5.6%; theexport value was 936.64 million USD, compared with thesame period in 2022, a decrease of 397.85 million USD, a
year-on-year decline of 29.1%; the average price of export was
2,100 USD per ton.

China Sold 3.74 Million New Energy
Vehicles in H1 2023
According to the China Association of Automobile
Manufacturers (CAAM), China's automobile production
reached 13.248 million units and sales reached 13.239 million
units in January-June 2023, up 9.3% and 9.8% respectively.
Among them, new energy vehicles continued to grow rapidly,with production reaching 3.788 million units and sales
reaching 3.747 million units, up 42.4% and 44.1% respectively.
In terms of vehicle types, from January to June, theproduction of passenger cars reached 11.281 million units, andsales reached 11.268 million units, an increase of 8.1% and8.8% respectively. During the same period, the productionof new energy vehicles reached 3.788 million units and sales
reached 3.747 million units, an increase of 42.4% and 44.1%
respectively.

China Fastener World no.69/2023

China's vehicle exports also increased, reaching 2.14
million units in January-June, up 75.7%. In terms of vehicle
types, 1.78 million passenger cars were exported, an increaseof 88.4%, while 361 thousand commercial vehicles were
exported, an increase of 31.9%. Exports of new energy
vehicles amounted to 534 thousand units, an increase of 1.6%.

The U.S. Makes the First
Anti-subsidy Sunset
Review Final Ruling on
Stainless Steel Flanges
On August 31, 2023, the U.S. Departmentof Commerce issued a notice of its First
Expedited Sunset Review Final Determination of
Anti-subsidies on Stainless Steel Flanges Imported from India, findingthat the elimination of the countervailing duty in this case would
result in the continuation or recurrence of subsidies on the products
involved in the case in India at a rate of subsidies ranging from 5.21%
to 256.45%.
On September 6, 2017, the U.S. Department of Commerce announced
the initiation of antidumping and countervailing investigations ofstainless steel flanges imported from China and India. On March 20,
2018, the U.S. Department of Commerce announced its preliminary
antidumping determinations of stainless steel flanges imported from
China and India. On April 6, 2018, the U.S. Department of Commerce
announced its final countervailing determinations of stainless steel
flanges imported from China. On June 5, 2018, the U.S. Departmentof Commerce issued its final countervailing determinations ofstainless steel flanges imported from China. On June 5, 2018, theU.S. Department of Commerce announced its final anti-dumping
determinations with respect to stainless steel flanges imported from
China. On August 13, 2018, the U.S. Department of Commerce
announced its final anti-dumping and countervailing determinations
with respect to stainless steel flanges imported from India. On May
1, 2023, the U.S. Department of Commerce instituted its first antidumping and countervailing sunset review investigations with respect
to stainless steel flanges imported from China and India.

U.S. DoC Launches Anti-Circumvention
Investigation on Carbon Alloy SteelThreaded Rods
On July 12, 2023, the U.S.
Department of Commerce
announced the initiationof an anti-circumvention
i nvestigation of st e elthreaded rods and carbon andalloy steel threaded rods imported
from China in response to a petition filedby U.S. firm Vulcan Threaded Products Inc.
The investigation was initiated to examine whether carbon and alloysteel threaded rods made from unthreaded pins imported from China
and produced in the United States circumvented existing anti-dumping
and countervailing measures.
On March 26, 2008, the U.S. initiated an anti-dumping investigationof steel threaded rods originating in China, and on April 14, 2009,
the U.S. formally imposed anti-dumping duties on China's steel
threaded rods. Since then, the U.S. has conducted two sunset review
investigations, issued two affirmative rulings, and extended the duty
period, and the products involved in the case are listed under U.S. tariff
numbers 7318.15.5051, 7318.15.5056, 7318.15.5090, and 7318.15.2095.

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Fastener World NewsO n M a r c h 14 , 2 019, t h e U. S .
Department of Commerce initiated ananti-dumping investigation of carbon alloysteel screw rods imported from China,
India, Taiwan, and Thailand, and also
initiated a countervailing investigationof the products involved and imported
from China and India. On February 10,
2020, the U.S. Department of Commerceissued affirmative final anti-dumping
and countervailing determinations ofcarbon alloy steel threaded rods imported
from China and India. On April 9, 2020,
t h e U. S. D e p a r t m e nt of C om m e r c e
issued an affirmative final anti-dumping
det er m i nation of ca rbon a lloy st e elt h readed rods i mpor ted f rom I ndia ,and an affirmative final countervailingdet er m i nation of ca rbon a lloy st e elthreaded rods imported from India. The
U.S. formally imposed anti-dumping duties
on China's carbon alloy steel threadedrods and, at the same time, imposed
countervailing duties on China's andIndia's carbon alloy steel threaded rods,
which involved the products under U.S.
tariff codes 7318.15.5051, 7318.15.5056,
7318.15.5090, and some of the products
u n d e r t a r i f f c o d e s 7 318 .1 5 . 2 0 9 5 ,7318.19.0000, and the products under tariff
codes 7318.15.2095, 7318.19.0000, and7318.19.0000 products.

UK Signs Agreement to Join CPTPP,
Effective as Soon as H2 2014
After nearly two years of negotiations, the British Minister for Business and Trade,
Kemi Badenoch, officially signed to join on July 16th in New Zealand when participatingin the ministerial meeting of the Comprehensive and Progressive Agreement for TransPacific Partnership (CPTPP).
This is the largest trade agreement since the UK left the European Union. In the
future, more than 99% of UK exports to CPTPP countries will be exempt from tariffs,
and together with the UK, the combined GDP of CPTPP countries will reach 12 trillion
pounds, accounting for 15% of the global GDP. The agreement is expected to come into
effect in the second half of next year after it passes the review and legislation of the
British Parliament. Meanwhile, the CPTPP member countries are gathering informationon other applicant countries, such as Taiwan and China, to determine whether they meetthe high standards for membership.

UK Initiates Sunset
Review Investigation on
Imported Steel Products

China Fastener World no.69/2023

On September 4, 2023, UK Trade
Remedies Authority issued a notice toinitiate a sunset review investigation
on cer t a i n i mpor t e d st e el product s,
including non-alloyed and other alloy
wire rods. On October 1, 2020, upon theapplication of the UK Secretary of State
for International Trade, the UK initiateda transitional safeguard investigation on
imported steel products, and on May 21,
2021, the Trade Remedies Investigation
Directorate (TRID) of the UK Department
for International Trade (DIT) made a final
safeguard ruling on the imported steel
products.
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Fastener World News
South Africa Extends Fastener
Safeguard Measures for 3 Years
International Trade Administration Committee of South
African (ITAC) decided, from July 24 this year, to extend thethree-year high-tariff defense measures on steel or iron screws,
bolts and hexagonal nuts. The measure is divided into three phases
to respectively levy 48.04%, 46.04% and 44.04% defense duty.
SAFMA's provided information to apply for the extension of themeasure includes initial recognition that the South African fastenerindustry in the original defense measures (August 1, 2020 to July
31, 2023) has carried out industrial adjustment, but if the defense
measures are terminated, the South African industry will sufferfrom reduction in sales, shrinkage of production capacity, declined
market share and labor employment, and reduction in equipment
utilization and revenue, among other damages; therefore, it was
decided to extend the defense measures and finally a decision on
the extension of the defense measures was made.

Malaysian Government Develops
Strategic Roadmap to Accelerate
Energy Transformation

China Fastener World no.69/2023

Malaysia has revised its Nationally Determined Contribution(NDC) to reduce greenhouse gases by 45% by 2030, Prime
Minister Anwar Ibrahim said in his keynote speech at the Asian
Energy Congress 2023. The country's efforts to realize the NDC

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have been incorporated into the 12th Malaysia Plan (12MP) and the
National Energy Policy 2022-2040 (NEP 2040).
The Malaysian government is in the process of developing several
strategic roadmaps, including the National Energy Transformation
Roadmap (NETR) and the Hydrogen Economy and Technology
Roadmap. The most important of these is the National Energy
Transformation Roadmap, which will be supported by the hydrogen
economy and the Technology Roadmap and will pave the way for
Malaysia to achieve environmental sustainability and long-term
energy security through technological innovation. Both roadmaps
are expected to be launched in the second half of 2023.
Meanwhile, Malaysia continues to recognize that natural gas
plays an important role in the energy mix and is one of the cleanesthydrocarbons for the transition to a low-carbon economy. At the sametime, the Malaysian government is committed to joining the Global
Methane Pledge to reduce methane emissions by 30% by 2030.

Vietnam to Start Construction of 5 Major
Transportation Projects by the End of 2023
Uong Viet Dung, Director of the Office of the Ministry ofTransportation of Vietnam, said on July 10, 2023 at a meeting on
the Ministry's first-half results and second-half work plan, that by
the end of this year, the Ministry will start five major transportation
projects, including the crossroads connecting Cho Chu and Trung
Son, a road connecting Rach Soi and Ben Nhat, a road connecting
Go Giao and Vinh Thuan, an expressway connecting Hoa LienFastener World News

Director Uong said that in the first half of theyear, the Ministry has completed and started
operating a number of major transportation
projects to meet the demand for usage, including
the expressway connecting Phan Thiet to Dau
Giay, Vinh Hao to Phan Thiet, and Nha Trang
to Cam Lam. In addition, the upgrade of therailroads from Hanoi to Vinh City and from Vinh
City to Nha Trang City has been completed.

Indian Steel Tycoon Advises
the Government to Impose
Import Tariffs
To counter U.S. tariffs and European carbon
taxes, Indian billionaire industrialist and steel
tycoon Sajjan Jindal is hoping for the government
to impose similar taxes to level the playing
field for Indian companies. "Each region isconsidering their own protective measures. The
U.S. has an import tariff on steel. Europe has the
Carbon Border Adjustment Mechanism (CBAM).
The European Union is subsidizing or supporting
their own industry by providing a lot of money,
while companies in other regions are not getting

this subsidy support. I hope India will also put up non-tariff barriers or steel
import barriers," Sajjan said in an interview.

The Indian Government Rolls out Mandatory
Quality Norms for Nuts, Bolts
T h e I n d i a n gove r n m e nt h a s i m ple m e nt e dmandatory quality norms for nuts, bolts and fasteners
to curb the import of sub-standard goods andboost domestic manufacturing of these products.
Items cannot be produced, sold, traded, imported
and stocked unless they bear the Bureau of IndianStandards (BIS) mark. A notification in this regard was issued by the Department
for Promotion of Industry and Internal Trade (DPIIT) on July 21.
Now, manufacturing, storing and sale of non-BIS certified products areprohibited as per the BIS Act, 2016. Violation of the provision of the BIS Act can
attract imprisonment of up to two years or a fine of at least Rs 2 lakh for the first
offence. In case of second and subsequent offences, the fine will increase to aminimum of Rs 5 lakh and extend up to 10 times the value of goods or articles.

Indian Steelmakers May be Mandated to Use
Partial Capacity for Green Steel Manufacturing
Green steel refers to the production of steel without relying on any fossil fuels.
Union Steel Minister Jyotiraditya Scindia hinted that the Indian government may
make it mandatory for steelmakers to devote a part of their capacity to green steel

China Fastener World no.69/2023

and Tuy Loan, and Dai Ngai Bridge, which passthrough the roads of Ho Chi Minh City.

惠達雜誌

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Fastener World News
manufacturing in the future. The government
may also look at ways to ensure greater usage ofthe green steel in government projects as well, he
added.
Scindia said the private sector steel users inIndia are actually moving towards committing
to more and more green steel in their projects
and also noted that some manufacturers havealready launched branded green steel products.
The minister said breakthrough technologies
and disruptive innovations like hydrogen-based
steelma k i ng coupled wit h ca rbon capt u re,utilisation and store (CCUS) hold huge promisefor the future.
He said India has emerged as the epicentre
for the evolution and growth of the steel sector
globally and has been able to achieve landmarks
like production touching 125 million tonnes andconsumption growing over 11 percent in the lastnine years. In 2022, even as the global finishedsteel production declined by 4.2 percent, India
could post a 6 percent growth, he said, addingthat the per capita steel consumption has now
increased to 78 kgs from 57 kgs in 2014.
T he overa ll g row t h ha s made i nvestors
interested in the sector and the government inMarch, signed 57 pacts with 27 companies under
the production-linked incentive (PLI) scheme,
which will add 25 million tonnes to the steel
capacity, he said. The capacity addition will see
investments of Rs 30,000 crore and also create
60,000 jobs, he added.

China Fastener World no.69/2023

New Zealand Subsidizes
Green Electricity
Steelmaking, Equivalent toReducing Carbon Emission of
300,000 Cars
On May 21st, 2023, New Zealand announced
the implementation of the largest carbon reduction
program in the country's history. The government
will spend US$140 million to subsidize the steel
giant NZ Steel, which expects the steel mill in
Glenbrook to switch from coal-based steelmaking
to renewable ele ct r icit y, a policy t hat t hegovernment says is equivalent to cutting carbon
emissions from 300,000 running cars.
"T he g ra nt prog ra m demonst rates t hei mpor t a nce t he New Z eala nd Gover n ment
places on reducing carbon emissions as quickly
as possible, and working with NZ Steel on thisprogram will have significant environmental
benef its a nd accelerate New Z ea la nd's
decarbonization process. This partnership is only
possible because of government funding," said
Prime Minister Higgins.

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The New Zealand government mentioned that the US$140 million subsidy
to NZ Steel was drawn from the Government's Carbon Reduction andTransformation Industry Fund (GIDI). With a total amount of US$650 million,
GIDI not only assists New Zealand's R&D in carbon reduction technology,
but also works with industry and government to reduce carbon emissions andaccelerate the establishment of a zero-carbon energy system.
If this carbon reduction program runs smoothly, it is estimated that New
Zealand's carbon emissions will be reduced by 800,000 tons per year, whichis equivalent to removing the carbon emissions of all cars in Christchurch, thelargest city in New Zealand's South Island.
NZ Steel accounts for 2% of New Zealand's annual greenhouse gas
emissions. However, once this decarbonization program is achieved, it will
reduce New Zealand's total carbon dioxide emissions by 1%, help New Zealandachieve its Net Zero goal by 2050, and move towards the vision of "limiting
global warming to be within 1.5 degrees Celsius".
Climate Change Minister James Shaw believes the program will help thegovernment reduce its carbon tax bill in the long term, saying, "This program
will reduce New Zealand's carbon emissions by about 5.3% in the second phaseof the carbon budget from 2026 to 2030, and by about 3.4% in the third phaseof the carbon budget from 2031 to 2035."

Companies Development
Bossard (Shanghai) Introduces a Simulated
Assembly Workstation to Increase TorqueTesting Range Up to 350 Nm
This assembly simulation system is equipped with a robotic arm thatsimulates actual assembly conditions to obtain the torque and angle
relationships of the assembly setup, thus verifying the accuracy of the assembly
process.
"The accuracy of the high torque assembly process is important for criticalapplications inindustries such asr a i l t r a n sp o r t a t ion
and automobiles.
The introductionof the simulated
assembly workstationm e a n s t h a t we a r e
in a position to help
these customers
solve t he problems
they may encounterin high torquethreaded connection
applications by helping
them find and validate
suit able solutions,"
said the engineering
department of Bossard
Fastening Solutions(Shanghai).
In addition, when coupled with ultrasonic equipment, the simulated assembly
system can also obtain fastening parameters such as torque, angle, axis
force, coefficient of friction, coefficient of torque, and a variety of assemblyparameter curves of the threaded connection during the fastening process,which is conducive to a more detailed analysis of threaded connection.

Fastener World NewsThe railway product "VariableT h read A nti-L oosen i ng Nut"developed by Qifeng Precision
Industry Sci-Tech has been tested
by relevant railroad authorities,
a nd is recognized as bei ng
in compliance with the technical standard Q/CR 484-2015
for "Variable-Thread Anti-Loosening Nut". The successful
development of this product will promote the application of
the company's products in the field of railroad transportation,and meet the safety requirements of railroad construction andoverhaul and maintenance of railroad works.
The anti-loosening nuts developed and produced by Qifeng
Precision have excellent resistance to horizontal vibration andcan effectively solve the problem of thread loosening. Thesenuts can be applied to the aerospace industry, marine industry,railway transportation, agricultural machinery and other fields.
With continuous increase in independent innovation and R&D
efforts, Qifeng Precision passed the CNAS national laboratory
accreditation. Its high-speed railroad threaded studs and otherproducts are used on railways connecting Beijing to Shanghai,

Beijing to Guangzhou, and Lanzhou to Xinjiang; in 2013, thecompany has successfully entered the military and aerospacefastener industry; since 2018, the company developed andmanufactured track fasteners that have been successfully put
into use. Qifeng Precision has been successfully selected asa qualified supplier for many famous domestic and foreign
enterprises.

Tong Ming Enterprise Launches
Online "Tong Ming Plaza"
On June 20, 2023, Tong Ming Enterprise has put up andofficially launched a new platform called "Tong Ming Plaza"which displays customized fasteners. This trading platform
is designed for buyers who need to purchase non-standard
fasteners. Buyers and sellers can communicate with each otherinstantly and conduct transactions online. There are thousandsof suppliers on the platform offering customized products,
allowing buyers to enjoy one-stop purchase through thisplatform.

China Fastener World no.69/2023

Chinese Qifeng Precision's VariableThread Anti-Loosening Nut Meets
Technical Standard

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Fastener World News
Altenloh, Brinck & Co. Celebrates 200
Year Anniversary
ALTENLOH, BRINCK & CO (ABC) is celebrating an
unbelievable milestone of two centuries of existence! Foundedin 1823 in the town now known as Ennepetal, Germany, ABC
was the first in that country to produce screws on an industrial
scale and looks back on a long tradition dedicated to innovative
progress. The most well-known product manufactured by
the global, family-run company is the SPAX screw, which
revolutionized the fastener sector and continues to be one of themost innovative fasteners in the marketplace today.

BUMAX Selected for Demanding
Ultrasonic Welding Application
Swedish fastener manufacturer BUMAX has been selected
to provide fasteners to be used in machines for ultrasonic metal
welding. The client is Schunk Sonosystems, a global leading
specialist in the field of ultrasonic metal welding.
German specialist machine maker Schunk Sonosystems has
decided to use BUMAX DX 129 screws for all its ultrasonicwelding flexure sonotrode products to further improve quality
and reliability. The machines are mainly used in the automobile
industry.
"Standard steel bolts simply cannot copewith the extreme pulling and bending forcesof ultrasonic vibration, so we had to find abolt that does,” said Stefan Mueller, Headof R&D at Schunk Sonosystems. “Of all thescrews we tested, only BUMAX met all ourneeds. Not only are BUMAX consistent in
how they perform and do not break, they last the lifetime of thesonotrode without a problem, are not creating abrasion dust on
the screw head and do not require rust protection.”
The BUMAX DX 129 (Duplex stainless steel) offers very
high tensile strengths of minimum 1,200 MPa and excellent
fatigue resistance properties. It deals successfully with extreme
forces during the ultrasonic welding process, such as 20,000
vibrations per second.

China Fastener World no.69/2023

Acquisition
Bulten Enters into Agreement toAcquire Exim & Mfr Holdings Pte Ltd
Bulten has entered into an agreement to acquire all shares in
Exim & Mfr Holdings Pte Ltd (“Exim”), an Asian, Singaporebased distributor of fasteners and other components, for apurchase sum of approximately SGD 66.3 million (SEK 530
million) on a cash-free and debt-free basis. The acquisition
affords Bulten a good platform to grow in new sectors, where
the distribution stage is a pivotal sales channel.
The acquisition is expected to contribute to Bulten’sdevelopment and earnings, and to increase earnings per share.

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Exim gives
Bulten accessto a large,
broad customer
base in growth
sectors ina dynamic
region. The
acquisition is an important part of Bulten’s strategy, which aims
for growth outside of the company’s primary customer groupof automotive, and to improve risk diversification, as well as
margins.
Anders Nyström, President and CEO of Bulten Group,comments: “Our strategy sets out a clear focus on balancing oursales through growth in customer groups beyond the automotive
industry. The aim is for these to account for at least 20% of sales
by 2025. The acquisition of Exim takes us into the distribution
stage, which is a key to profitable growth in new sectors. Exim
is a well-managed company with an international customer
base and developed processes for distribution and Vendor
Managed Inventory (VMI), which is suitable for industries

with completely different purchasing patterns than Bulten has
historically been used to. Exim’s base in Singapore is also highly
attractive. It enables us to take advantage of the strong growthin that region, and we also see potential in using Exim’s sales
network to increase sales for our factories in China and Taiwan.
Exim will, together with Bulten's rapidly growing business toconsumer electronics customers, constitute the beginning of a
new industrial segment.”

Commercial Metals Company Acquires
EDSCO Fasteners LLCCommercial Metals
Company ("CMC") announced the purchase of EDSCO
Fasteners LLC ("EDSCO"), a leading provider of anchoring
solutions for the electrical transmission market, from
MiddleGround Capital. EDSCO's custom engineered lineof anchor cages, bolts, and fasteners are manufactured
principally from rebar and used primarily to secure highvoltage electrical transmission poles to concrete foundations.
EDSCO serves the North American market from four
manufacturing plants located in Texas, Utah, Tennessee,and North Carolina. Since its founding in 1985, the company
has grown to become the nation's largest provider of anchor
cages for concrete reinforcement and has developed a strong
reputation for customer service and reliability.

"This acquisition further advances CMC's leadership
position in construction reinforcement and extends ourcapabilities to new and growing applications," said Barbara
R. Smith, Chairman of the Board and Chief Executive
Officer. "EDSCO's innovative reinforcement solutions are
well-positioned to benefit from the long-term transition to
renewable energy, which will require extensive investment
in electrical transmission capacity and wind power
installations."