Here’s what’s happening in fastener industry news the week of March 20, 2023.
Watch now on FastenerTV at YouTube (11:17)
The St. Louis Federal Reserve Producer Price Index (known as the acronym FRED) Commodity: Bolts, Nuts, Screws, Rivets, and Washers for Feb 2023: Registered at 298.894, slightly on an upward trend vs the January reading of 296.441. Do You Know What the acronym FRED stands for? It’s short for Federal Reserve Economic Data, FRED is an online database consisting of hundreds of thousands of economic data time series from scores of national, international, public, and private sources. FRED, created and maintained by the Research Department at the Federal Reserve Bank of St. Louis. Find the monthly readings posted at Fastener News Desk.
Fully Threaded Radio Episode 186 – Like a Glove is LIVE! Lusten in with Eric Dudas and Brian Musker as they talk with: Endries International president and CEO Michael Knight. Brighton Best president Jun Xu, Mike Robinson as he leads the NCFA and drives business for Star Stainless. Thread guru Carmen Vertullo dispells a common misconception about black oxide coatings. Brian and Eric have different ideas about the future but remain unified in their quest for the perfect fit. Tune in at FullyThreaded.com (2:32:00)
Congratulations to ZAGO, the high-tech sustainable sealing fasteners and switch boots manufacturer is celebrating 30 years and being a woman-owned business. “March is Women’s History Month, and it is only fitting that we recognize the pivotal roles women play in shaping the manufacturing industry,” said Jackie Luciano, ZAGO Vice President.
Women’s History Month: ZAGO Celebrates 30 Years & Being Woman-Owned
Tramec Sloan announced that they have completed a $1.7 million-dollar investment project at their facility in the Galion Industrial Park. The new automation equipment replaces World War II-era machinery and allows the company to retain their current 107 employees. Tramec is a manufacturer and distributor participating in numerous markets, including commercial vehicle, automotive, industrial, HVAC, lawn and garden, recreational vehicle, marine, construction, and agriculture under the brands Tramec Sloan, Tramec Sloan Fleet Engineers Division, Hill Fastener, Tramec Esdan Plastics, Termico Technologies, Tramec Plastics and Composites, and Continental Aero.
Wurth Industry Sees Progress through digitalization – Wurth has been named as one of the “Digital Champions 2023” by Focus Money and DEUTSCHLAND TEST, the C-Parts partner emerged as a digital pioneer with the second place in the category “building materials and building accessories (wholesaler)” According to its motto “Always looking forward and one step ahead”, Würth Industry contributes to driving digital change.
Wurth Industry was also recently awarded By Capital and Statista as one of “Germany’s most innovative company in 2023”.
Progress Through Digitalization – Würth Industrie Service is one of the “Digital Champions 2023”
The Mid-West Fastener Association is once again sponsoring their popular seminar Fascination with Fasteners on March 23rd in Elk Grove Village, IL. The seminar is designed to educate fastener industry personnel. This is not a sales or manufacturing course, but a semi-technical course on many facets of the industry. Register today at MWFA.net
Fastener Fair Global 2023 is set for a strong comeback showcasing technological developments in a fast-moving market. After four years, Fastener Fair Global 2023, the 9th international event dedicated to the fastener and fixing industry, returns to Stuttgart from March 21st – March 23rd . The exhibition represents once again an unmissable opportunity to establish new contacts and build successful business relationships between suppliers, manufacturers, distributors, engineers and other industry professionals from various production and manufacturing sectors looking for fastening technologies. For more information and registration go to https://www.fastenerfairglobal.com/.
The Fastener Training Institute has a scheduled upcoming webinar. Corrosion Resistant Fasteners & Stainless Steel Fastener Specs. The webinar will take place on Thursday, March 23, 2023, 11:00 a.m. to 1:30 p.m. PT The instructor is Carmen Vertullo, Vice President of Business Development at AIM Testing Laboratory. The webinar will address FIGHTING CORROSION IN FASTENING and strategies to combat it, which cost billions of dollars every year. Industrial, transportation, construction, marine and military fastening applications all have specific solutions to the corrosion problem. This webinar will explore the various approaches to corrosion prevention in each of these areas. Brikksen is sponsoring the webinar. Register now: https://fastenertrainingevents.com/corrosion-resistant-fasteners.htm
Thursday, March 23, 2023, NEFDA will host their annual Bowling Party. The party will be held at High Rollers at Foxwood Resort & Casino. Attendees will enjoy Bowling, Dinner & Drinks, Prizes and Fun! For more information go to https://www.nefda.com/events/
Fastener Training Week in Cleveland, OH will take place April 3-7th. The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week — This robust program includes five 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. To register and learn more about any of the fastener training events we highlighted go to FastenerTraining.org
Women in the Fastener Industry accepting applications for Margaret Davis Scholarship. Scholarship application submission will offer WIFI Members requesting financial assistance to attend Fastener Fair USA. WIFI honors the memory of Margaret Davis of ISSCO, INC/BTM Manufacturing. Member Applications are due by April 5th, 2023.
Apply Now: https://www.fastenerwomen.com/scholarships
Women in the Fastener Industry honor the memory of Maryann Marzocchi, Co-Owner of Distributor’s Link Magazine with a NEW scholarship. The $1,500 scholarship will be awarded to a woman to attend college or trade school. The recipient must have a female family member who is employed by a fastener company. WIFI accepting applications now. The Application deadline is June 5, 2023
Apply Now: https://www.fastenerwomen.com/scholarships
Dirk Beveridge of UnleashWD has announced the first human resources event for distributors, designed to challenge traditional thinking on HR and help independent distributors win the war on talent. Registration is now open for the UnleashWD Human Resources Summit for distributors, April 27-28, 2023 in Nashville, Tenn.
Seating is limited for this event be sure to register today to reserve your seat. To Learn more or register at https://events.unleashwd.com/HRSummit
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The stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our Twitter feed @FastenerNews and on LinkedIn in the Fastener News Group!
If you would like to share your company’s events, news or sponsor an upcoming episode of IN THE NEWS or would like to add to the Fastener Museum 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, be safe and Keep it Fastenating!
What is the fastener industry?
Industrial fasteners refer to high-quality fastening products used in construction, automobile, aerospace, and marine industries. The industrial fastener market size has been valued at USD 91.73 billion in 2002. Forecast to reach USD 131.28 billion by 2030. Growing machinery, motor vehicles, and other durable goods production are likely to support the overall market growth due to economic expansion and high investment expenditure. Aerospace fasteners has the highest growth rate with CAGR forecast at 6.5% through 2029.
What is a fastener distributor?
A fastener distributor is a company that specializes in the supply and distribution of fasteners, such as bolts, screws, nuts, and washers, to various markets and industries. These distributors typically carry a wide range of fasteners in various sizes, materials, and finishes to meet the diverse needs of their customers.
Fastener distributors serve a variety of markets, including construction, manufacturing, automotive, aerospace, marine, and many others. Their customers can range from small businesses and repair shops to large industrial manufacturers and government agencies. By providing access to a wide selection of fasteners and related products, fastener distributors help their customers to save time and money by reducing the need to source and stock these items themselves.
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