Bossard Group is increasing its majority stake in Torp Fasteners located in Oslo, Norway, from 60% to 100%. Bossard has held a stake in the company, a specialist in high-quality engineered fastening solutions, since January 2015.
In recent years, Bossard has made considerable efforts to further develop the demanding Scandinavian markets. The parties have agreed to keep the purchase price confidential.
Bossard’s investment in the Norwegian company Torp Fasteners is in line with the Group’s strategic approach to expand its presence in the areas of branded and high-quality engineered products through targeted investments. Torp Fasteners’ product range includes complex fastening technology made of plastic. The Norwegian company’s expertise also covers sophisticated solutions for rivets, special fasteners and locking devices for a variety
Torp Fasteners supports customers in the early planning stages of product development, which is also significant for the Bossard Group. This technical expertise fits perfectly with the Bossard Group’s strategic focus to increasingly leverage its recognised engineering competence for customer projects in order to optimise the use of resources, to reduce throughput times and thereby strengthening the competitiveness of its customers.
In 2019, Torp Fasteners achieved annual sales of about CHF 9 million (€8.4 million) and has 21 employees.
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