Here’s the stories you need to be following in fastener industry trends, news, acquisitions, and upcoming events making headlines the week of January 22, 2024.
Watch now on FastenerTV at YouTube: (8:30)
HEADLINE’s:
Fastenal distributor of industrial and construction supplies reported sales for the fourth quarter and year ending Dec. 31, 2023. Fastenal’s 2023 sales were $7.3 billion, up 5.2%. Fourth-quarter sales for fasteners was down 2.3%. Fastenal’s digital footprint in the fourth quarter of 2023 represented 58.1% of sales.
Würth Group sets new record. The Würth Group global market leader in the development, production and sale of assembly and fastening materials reported annual sales of more than EUR 20 billion for the first time in its corporate history according to its preliminary financial statements for the 2023 fiscal year.
The 2023 Fastener Distributor Index demonstrated a year of fluctuations and recovery in the fastener distribution market. The 2023 December Fastener Distributor Index took another downturn to a 47.5 after two consecutive months of expansionary readings. Participants stated that seasonal slowing and holiday closures in December as the main reason for lower-than-expected numbers. The Forward-Looking Indicator saw a similar deceleration, coming in at 49.6 vs. 50.4 last month.
Tune in to the NEW episode of Fully Threaded Radio! Titled – “Clean Up” Be sure to listen in to hear further commentary on the disappointing December Fastener Distributor Index numbers. Go to FullyThreaded.com
The St. Louis Federal Reserve Producer Price Index for the Commodity: Bolts, Nuts, Screws, Rivets and Washers December reading was 311.645 up from the November reading of 311.558. FRED is created and maintained by the Research Department at the Federal Reserve Bank of St. Louis.
Women in the Fastener Industry announced their annual awards! Congratulations to the awardees! The Woman of the Year award goes to Heidi Volltrauer of Volt Industrial Plastics, the Woman in Business award went to Lisa Breton at DB Roberts, and the Man Up award went to Jake Davis, Issco, Inc & BTM Mfg.
INDUSTRY EVENTS:
Join Dirk Beveridge this Thursday, January 25th for a LinkedIn Live session the Top 5 Leadership Challenges of 2024. Join Dirk as he discusses tackling some of the biggest challenges facing today’s leaders in distribution.
We’ll include a link to register in the transcript from this episode or follow Dirk on LinkedIn for link to live session.
Click here to secure your spot: https://lnkd.in/eGVsVZWs
Have you ever wondered why aerospace manufacturers take so many precautions to supply a product that are free of imperfections? During this live webinar the importance of workmanship will be explored. Register now for Workmanship – The Impact of Imperfections and Surface Discontinuities webinar Co-Produced by Industrial Fasteners Institute and Fastener Training Institute which takes place Friday, January 26 12:00 p.m. – 2:00 p.m. EST. Go to https://fastenertrainingevents.com/workmanship.htm
Registration is now open for the Pac-West 2024 Spring Conference and Tabletop Show! The conference and Tabletop Show are scheduled for March 6 – 8 th in Anaheim, CA. The Spring Conference will feature next-level education, a tabletop show with more than 70 vendors and exciting activities including golf and an Anaheim Ducks hockey game. To register go to https://www.pac-west.org/
Registration is open for STAFDA’s highly anticipated Excellence in Distribution EDUCATIONAL CONFERENCE FOR CONSTRUCTION AND INDUSTRIAL PROFESSIONALS
The three-day management school is designed specifically for professionals in the construction, industrial distribution and the supply chain industries. STAFDA’s Excellence in Distribution (EiD) will be March 12-14th in Nashville. Register & Agenda: https://excelindist.org/agenda/
NFDA Seeking Nominations for the Fastener Professional of the Year Nominations.
The award was created by NFDA to honor individuals and companies that make a substantial positive impact on people’s lives. Membership in NFDA is not a requirement to be selected for the Fastener Professional of the Year award. Self-nominations are acceptable, or nominations can be submitted by others. The deadline to nominate is February 12, 2024
Go to https://www.nfda-fastener.org/ to nominate today!
The Gilchrist Foundation is accepting applications for their 2024 scholarship! Providing scholarships and leadership opportunities for persons engaged in or pursuing careers in the fasteners industry. The application is available at: http://www.gilchristfoundation.com. The application is due by May 31, 2024.
The stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our feed @FastenerNews at X.com the twitter rebrand, on LinkedIn in the Fastener News Group and @FastenerNews at Threads!
If you would like to share your company’s news or events contact me, lisa@fastenernewsdesk.com.
Thanks for tuning in to this week’s episode of ‘IN THE NEWS’ with Fastener News Desk.
Until next week, be well and keep it fastenating.
Sign up to receive the FND newsletter designed to keep busy fastener professionals like you up-to-speed on “All things FASTENATING”!
- Subscribe to receive our weekly newsletter:
- Join the LinkedIn Fastener News Group:
- Join the LinkedIn Fastener News Desk page:
RELATED CONTENT:
IN THE NEWS with Fastener News Desk the Week of January 15, 2024
IN THE NEWS with Fastener News Desk the Week of January 8, 2024
Fastener News, Fastener News Desk, Fastener News Podcast, Fastener TV
