“Hello, fastener enthusiasts and industry professionals! Welcome to your weekly dose of all thing’s fasteners. This is where we tighten the screws on the latest news, trends, and innovations in our industry. Whether you’re a bolt buff, a nut nerd, or just riveted by rivets, we’ve got you covered. So, let’s thread our way through the world of fasteners together. Welcome to this week’s episode of In The News with Fastener News Desk!”
Here’s the stories you need to be following in fastener industry news, trends, acquisitions, and upcoming events making headlines the week of February 5, 2024.
Watch now on FastenerTV at Youtube: (11:38)
Economic activity in the manufacturing sector contracted in January for the 15th consecutive month following one month of “unchanged” status (a PMI® reading of 50 percent) and 28 months of growth prior to that, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
“The Manufacturing PMI® registered 49.1 percent in January, up 2 percentage points from the seasonally adjusted 47.1 percent recorded in December. The overall economy continued in expansion for the 45th month after one month of contraction in April 2020.
Manufacturing PMI® at 49.1%; January 2024 Manufacturing ISM® Report On Business®
Fastenal Co. shares rose 7.2% to an all-time high as the biggest U.S. supplier of fasteners beat profit and sales estimates for the fourth quarter of 2023. The company said revenue growth was driven by demand at its onsite locations—where sales and service are provided in or near a customer facility. Fastenal is scheduled to release their January 2024 sales information tomorrow February 6th at 6 am.
The Würth Electrical Wholesale Group (W.EG) announced the expansion of its presence in Poland by having acquired 97,31 percent of the shares in TIM S.A. through a voluntary public tender offer. TIM S.A. operates the largest e-commerce platform for electrical wholesaling in Poland, generating more than 70 percent of its revenue purely through online channels. In addition, the company operates a powerful logistics platform through its fully owned subsidiary 3LP S.A..
Würth Electrical Wholesale Group Acquires TIM S.A. in Poland
The Young Fastener Professionals announced that Craig Beaty of Beawest Fasteners has been elected as the organizations 2024 President.
FASTENER INDUSTRY EVENTS:
One of the most misunderstood themes between fastener manufacturers and customers is the application of geometric dimensions and tolerances (GDT) on prints. The Fastener Training Institute and the Industrial Fasteners Institute are offering a 2-day course “Geometric Dimensioning and Tolerancing for Fasteners | February 19 & February 20, 9:00 a.m. to 4:00 p.m. at IFI Headquarters, Independence OH. The course will explore how specific geometric characteristics are used to describe fit, form, and function on threaded fasteners. Register now at FastenerTraining.org.
Wurth Industry has partnered with Trident Technical College in Charleston, SC to provide three in-person fastener training courses taught by Technical Instructor Randy Lammers! Increase your skillset and gain more knowledge, experience, and understanding about fasteners and their critical role in the quality and integrity of items engineered and manufactured in these three courses:
Fastener Basics – February 26, 2024, Corrosion & Fastener Finishes – March 25, 2024, Special Purpose Fasteners – April 22, 2024
Learn more and register here: https://www.tridenttech.edu/ce/engineering-and-manufacturing/construction-and-engineering.html
Enjoy the Top Golf Experience with the Mid-Atlantic Fastener Distributors Association! Network with industry friends for an awesome night of good times, fun & Golf on February 28th in King of Prussia, PA from 6:30 pm – 9:30 pm. https://topgolf.com/us/king-of-prussia/
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/ Discount Deadline is February 12
Complimentary Class at Pac-West Spring Conference Understanding Fastener Strength and Hardness!
March 7, 2024, 1:30 p.m. to 2:45 p.m. Westin Anaheim Resort, Anaheim, CA Instructor, Carmen Vertullo
COURSE DETAILS: When it comes to selecting and understanding fastener materials, one of the primary considerations is strength; and strength is directly related to hardness. In this class we will explore the relationship between strength and hardness in fastener materials and how the various fastener specifications, both Inch and Metric, classify fasteners according to both.
Register: https://fastenertrainingevents.com/understanding-strength.htm
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 construction, industrial distribution and supply chain industries. STAFDA’s Excellence in Distribution (EiD) will be March 12-14th in Nashville. Register & Agenda: https://excelindist.org/agenda/
NEW ENGLAND FASTENER DISTRIBUTORS ASSOCIATION | March Madness Bowling Event on Thursday March 21 at High Rollers at Foxwood Resort & Casino. Join association members and friends for an evening of networking and pins, spins & wins! Register today at https://www.nefda.com/events/
Learn over lunch with The Fastener Training Institute’s Fastener Basics Four-Part Webinar Series
Students can learn over lunch and complete the training across four Thursdays this spring. Each webinar will be held from 11:00 a.m. to 12:30 p.m. Pacific Time and will include time for audience Q & A.
FTI’s Fastener Basics course provides extensive fastener parts knowledge to those new to the fastener industry and to those looking to better understand fastener products. https://fastenertrainingevents.com/fastener-basics.htm
Fastener Training Week returns to Cleveland April 8-12 Increase your knowledge and earning potential with a CFS designation. Fastener Training Week will be taking place in Cleveland, OH April 8 – April 12, 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. Register now at https://fastenertrainingevents.com/fastener-training-cleveland.htm
One more week to submit your nominations for the NFDA Fastener Professional of the Year Award. 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.
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