Here’s what’s happening in fastener industry news, acquisitions, and upcoming events the week of July 17, 2023.
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The seasonally adjusted Fastener Distributor Index (FDI) survey for June rebounded slightly to 45.6 compared to 44.7 in May. Respondents pointed to increased quoting activity as the primary driver of the m/m improvement. The Forward-Looking Indicator (FLI) regressed slightly, moving further below the neutral-50 reading to 39.3 vs. May 40.6. Overall, results were mixed, with a slight improvement in the FDI offset by further retrenchment in the Forward-Looking Indicator suggest conditions could get weaker ahead. The FDI is a monthly survey of North American fastener distributors, conducted by the FCH Sourcing Network and Baird with support from the National Fastener Distributors Association.
The Great Lakes Fasteners Group has acquired Connection Service Company of Benton Harbor, Michigan, and continues its rapid growth plans serving manufacturers in the greater Midwest region. Connection Service provides standard, metric, and special fasteners to print and is a boutique manufacturer of standard and special U-bolts, threaded rods, and special threaded studs.
Commercial Metals Company has acquired EDSCO Fasteners LLC (“EDSCO”), a leading provider of anchoring solutions for the electrical transmission market, from MiddleGround Capital. EDSCO’s custom engineered line of anchor cages, bolts, and fasteners are manufactured principally from rebar and used primarily to secure high voltage electrical transmission poles to concrete foundations. EDSCO serves the North American market from four manufacturing plants located in Texas, Utah, Tennessee, and North Carolina. Since its founding in 1985, the company has grown to become the nation’s largest provider of anchor cages for concrete reinforcement and has developed a strong reputation for customer service and reliability.
The Würth Group Continues to Grow Despite Economic Slowdown. The Würth Group, world market leader in the development, production and sale of assembly and fastening materials, reports sales of 10.5 billion EURO for the first half of 2023. This corresponds to an increase of 5.9 percent compared to the same period last year. Adjusted for currencies, this is equivalent to 6.6 percent increase.
Fastenal Company’s Q2 digital sales topped $1 billion. Sales through Fastenal’s Digital Footprint was 55.3% of sales in the 2nd Quarter of 2023, versus 47.9% in the 2nd Quarter of 2022. They forecast their Digital Footprint to reach 60% at some point in 2023. With a long-term expectation of 85%.
The Fastenal Company announced the publication of their 2023 ESG Report. The report, which recaps Fastenal’s performance and progress in 2022. One of the initiatives detailed in the report is Fastenal’s completion of a materiality assessment to define and prioritize key ESG issues impacting the company and its stakeholders, including employees, customers, suppliers, shareholders, and local communities. Based on this exercise, Fastenal has defined its ESG vision, pillars, and strategic objectives, and has begun to create a roadmap for each of the ESG topics found to be most significant.
Fastenal Releases 2023 Environmental, Social, and Governance (ESG) Report
Happening this week is the Fastener Training Institute’s Webinar Understanding Fastener Technical Drawings on Thursday, July 20th, 11 a.m. to 12:30 p.m. PT. The webinar Instructor is Carmen Vertullo, Fastener Consultant and Trainer. The webinar will teach the fundamentals of drafting terminology and will examine actual fastener drawings and specifications, both the good and the bad. Attendees can send fastener drawing or specification illustrations in advance for explanation. For Register info go to: https://fastenertrainingevents.com/understanding-drawings.htm
Next generation advanced planning and scheduling is here! Optessa’s AI-driven optimization ushers in a new way for manufacturers to generate optimal plans and schedules in a fraction of the time. Respond to disruptions, meet delivery dates, reduce excessive parts inventory, eliminate costly idle time, and stabilize your supply chain. Request a live demo of Optessa’s NextGen APS platform today! Visit https://www.optessa.com/ for more information!
ATTN: Women in the Fastener Industry! WIFI honors the memory of Edith Cameron, a pioneer in the fastener industry for 55 years with a scholarship to attend the International Fastener Expo in Las Vegas this October. Edith was an industry trailblazer and was the first woman to be inducted into the Fastener Hall of Fame in 1993. She encouraged many women to excel in the fastener business. Submission deadline for the applications is: August 11, 2023. Go to https://www.fastenerwomen.com/scholarships for more info.
Registration is open for the 2023 International Fastener Expo at Mandalay Bay in Las Vegas from October 9-11, 2023. The International Fastener Expo (IFE) is the ultimate business-to-business expo in North America for all things fasteners, machinery & tooling, and industrial products. Attendees can participate in special events like the IFE Annual Golf Tournament, the Welcome Reception Party, Keynote Speaker, informative sessions on the show floor. And the prestigious Fastener’s Hall of Fame & Young Fastener Professional Award Ceremony, where industry excellence is celebrated.
Get ready to network with fastener industry professionals from around the world, discover the latest innovations, and take your business to new heights. Register now Use promo code FND50 to save $50.00 on registration. Go to FastenerShows.com
Tee off with fastener industry leaders and fellow enthusiasts at the highly anticipated annual International Fastener Expo Golf Tournament. This premier event provides an excellent opportunity to network, build relationships, and have a fantastic time on the greens. Whether you’re a seasoned golfer or just starting, this tournament promises a day of camaraderie, friendly competition, and unforgettable memories. Mark your calendars and practice your swing because this is an event you won’t want to miss! The tournament will take place on Monday, October 9th at the Bali Hai Golf Club. The IFE Golf Tournament presents an array of sponsorship opportunities designed to put your brand at the forefront. By sponsoring different aspects of the tournament, you can ensure maximum visibility to your target audience. Go to FastenerShows.com for registration and sponsorship opportunities!
Swing into Success: Unleashing Networking Opportunities at the 2023 IFE Golf Tournament
2023 Southwestern Fastener Conference & Expo July 25th – July 27th | Houston, TX
Attendees will experience a site visit to Houston Fastener Manufacturing, a night at the ballpark as the Houston Astros take on the Texas Rangers, association conference, keynote speaker, industry table-top expo, lots of networking and a lively Round Table discussion with the SFA board to wrap it all up. To register and get more info go to: https://www.southwesternfastener.org/
Registration is OPEN for MWFA FSTNR Week which will take place in Chicago August 20-24, 2023!
Members and attendees will experience:
- A Bed Build event at Abbott Interfast to support the Sleep in Heavenly Peace organization,
- MWFA Member Plant Tours
- Print Reading Seminar
- the 41st MWFA Fastener Show
- Retro 80’s Fastener Bash
- MWFA 70TH Golf Outing & Mixer.
- For all the details and to register go to www.mwfa.net
Registration form: https://mwfa.net/pdf/2023/exhibitors.pdf
Are you planning to be at the MWFA FSTNR Week? Come early and get muddy with fastener industry friends in the Rugged Maniac Race! It’s 3.1 miles and 25-plus obstacles of teambuilding fun!! Fastener friends start together, finish together, and leave with a bond that cannot be broken. The event will be held on Saturday, August 19th 10:00am – 1:30pm. So, plan to arrive in Chicago early for the show and tackle this fun-filled event. Register today use discount code RUGGEDNUTS23
Go to the race website and proceed to the registration page for Chicago race: https://ruggedmaniac.com/events/chicago/
The Fastener Training Institute Announced Fastener Training Week will be held in Chicago on August 21st-25th, coinciding with the Mid-West Faster Association’s FSTNR Week! The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week — five intensive days of education and plant tours as part of the acclaimed FTI Certified Fastener Specialist™ (CFS) advanced technical training program. After completing this invaluable industry training in a small group environment and passing a final exam, attendees are eligible for the CFS designation. For more info go to: FastenerTraining.org
SPONSOR: Join the Fastener Training Institute for an all-day training program on Monday, October 9th, at the International Fastener Expo! Fastener Fundamentals, The Nuts and Bolts for Fastener Professionals, will offer the best of the Fastener Basics Training and Certified Fastener Specialist™ Training programs. The one-day class will bring the basics of fasteners and beyond to industry professionals. Take advantage of early bird pricing through October 7, 2023. Register now: https://fastenershows.com/fti-class/
The stories featured in this week’s episode of IN THE NEWS can be found in our Twitter feed @FastenerNew, LinkedIn in the Fastener News Group!
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.
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Hey there DYK! We have 4 million manufacturing jobs to fill by 2030! Let’s work together and inspire the next generation of manufacturers by hosting a #MFGDay23 event! So Save the Date: Friday, October 6th for Manufacturing Day 2023. Celebrated nationally on the first Friday in October and throughout the month. MFG Day is manufacturing’s biggest annual opportunity to inspire the next generation, positively shift perceptions about our industry, and build the foundation for the manufacturing workforce of the future. Resources and toolkits available: https://mfgday.com/resources/
Registration is now open for the Industrial Supply Association’s (ISA) highly anticipated Fall Summit, the channel’s premier professional development experience. Taking place from October 18 – 20, 2023 in Orlando, FL, this year’s Fall Summit offers attendees tailored agendas with three tracks: Women in Industry, Emerging Leaders, and Channel Pros. Packed with engaging sessions, interactive breakouts, and exciting networking activities, the Fall Summit is designed to captivate and empower professionals, unlocking their full potential for career growth. For registration and details go to https://www.isapartners.org/
Do you work in the Fastener Industry? Sign up for the free 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:
Thanks for tuning in!
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