HUDSON -- Ramco Specialties Inc. announced Feb. 27 the formation of a new company, Ram-Bul LLC, in conjunction with Bulten, an externally threaded fastener manufacturer headquartered in Gothenburg, Sweden.

The equally owned joint venture signals a partnership between two leading fastener manufacturers in North America and Europe. Ram-Bul will offer sales and distribution of fasteners for the North American market.

Executives of both Ramco and Bulten have said they are looking forward to the opportunities that the formation of Ram-Bul will create. Both companies will benefit from the shared resources and capabilities for the production of manufactured components.

Ram-Bul is scheduled to begin operations this year and will be headquartered at Ramco's new facility in Hudson.

Ramco moved from Hudson Drive in June 2016 to a new 165,000-square-foot facility on 22.3 acres of land on Hudson Industrial Parkway.

"Bulten has been a key partner with Ramco in Europe," said Rick Malson, president of Ramco. "This new joint venture will allow both companies to capitalize on their unique strengths bringing value to the North American fastener market. We are excited about the opportunity to expand our North American manufacturing and distribution capabilities."

"Bulten's previous experience in forming joint ventures has been taken into account when setting up the company structure, and we believe that this is the fastest and most cost effective way to support our customers in the US market," said Tommy Andersson, president and CEO of Bulten. "Ramco has been a partner to Bulten for many years, and I very much look forward to our extended cooperation, which I am convinced will create long-term value for shareholders."

In addition to the partnership to form Ram-Bul, Bulten has created a new production subsidiary, Bulten North America LLC, which will introduce bolt manufacturing to Ramco's Ohio location and expand Ramco's localized manufacturing capabilities.

Both Ram-Bul and Bulton North America LLC will share existing space with Ramco in Hudson, according to spokesperson Kurt Kleidon.

Ramco Specialties, Inc., is a Tier 1 supplier to the North American automotive market, with additional locations in Sweden and Italy. Ramco specializes in internally threaded fasteners, engineered assemblies and stampings. Ramco is privately held and has been headquartered in Hudson since 1977. More information can be found at www.ramconut.com.

Bulten is one of the leading suppliers of fasteners to the international automotive industry. The company's product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. The company was founded in 1873, has some 1,300 employees in nine countries and its head office is located in Gothenburg, Sweden. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com.

City officials did not respond for comments before the story went to press.