Bulten Acquires Minority Post in TensionCam Systems AB
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Bulten has acquired newly issued shares in TensionCam Systems AB for a purchase price of SEK 6 million. After the acquisition, Bulten becomes the owner of 27% of TensionCam's shares. Thus, Bulten and TensionCam will deepen their cooperation in the development of wireless clamp force monitoring of screw joints.
TensionCam is a Gothenburg‐based company, specializing in the development of sensors for clamp force monitoring in screw joints and is, after the new share issue, 73% owned by G‐Coder Systems AB. The company, both individually and together with industrial partners and research institutes, conducts research and development in the area and already owns a number of patents. TensionCam's technology is not currently commercialized or industrialized. The deeper cooperation aims to accelerate the completion of ready and concrete customer offers.
"The acquisition of a share of TensionCam is in line with Bulten's strategy of being a technology leader in fasteners and being able to offer customers unique and sustainable functionality, and to facilitate profitable growth even outside the automotive industry," says Anders Nyström, Bulten's President and CEO.
"The in‐depth collaboration with Bulten will help TensionCam with the integration of sensor technology into complete screw joints and with the industrialization necessary for commercial success," says Jonas Nilsagård, CEO of TensionCam.