Bosal is to open a new plant and competence centre in Nyköping, Sweden, creating up to 400 jobs.
This marks the start of Bosal’s production and development activities in Scandinavia and will eventually also involve a regional hub for aftermarket activities.
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The initial investment in Nyköping will be around EUR20m (US$24m) and aims to create 200-400 jobs.
Bosal has outlined a business plan to expand its portfolio of on- and off-road products for the Scandinavian market, on the back of its vertical integration and diversification strategy.
Bosal says Nyköping is a good location for its Scandinavian ventures because of the know-how, competencies and supply chain in automotive manufacturing, available in the region.
The proximity to the technical universities of Stockholm and Linköping makes it easy, maintains Bosal, to turn education into a driver of development. Sweden holds an 18% global market share of powertrains for heavy-duty vehicles.
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By GlobalDataFollowing new business opportunities Bosal has identified, it is also preparing to open a production facility. The plant will focus on commercial vehicle and passenger car business for a range of new Bosal projects, which will encompass its full product offering.
The company plans to manufacture Emission Control Systems and Chassis Parts in its new Swedish factory.
Bosal will seek to hire experienced people in Sweden. The company expects to employ its first new employees in Nyköping in the first quarter of 2021.
“We have been preparing this move for over a year and are very grateful for the help and support by the city of Nyköping,” said Bosal CEO, René de Wit.
“It is a great location to start our Scandinavian ventures. We see a lot of opportunities here – and we know we can gain a tremendous sustainability advantage by establishing ourselves closer to the manufacturing plants of the large Swedish OEMs.”
For his part, Scandinavian supplier association (FKG) CEO, Fredrik Sidahl added: “The growth and competitiveness of the Scandinavian automotive industry depend on having suppliers that invest in the market, attract talent, and work closely with our biggest automotive manufacturers.”
“Because of this, we’re very happy Bosal has chosen to establish a presence in Nyköping.”
