Here’s what’s happening in fastener industry news, events and scholarship awards the week of May 15, 2023.
Listen in on FastenerTV:
Fastener Fair USA gets underway this Tuesday and Wednesday, May 16-17, 2023, at Music City Center in Nashville, TN. Happening today is FASTENING 101, the event features a pre-show all-day training conference provided by the Fastener Training Institute. The Fastener Fair USA Golf Tournament sponsored by MWFA and NCFA also gets underway today at 1:00pm. The opening night networking party is being held at the Country Music Hall of Fame, May 16 at 5:30 PM. For more info go to FastenerFairUSA.com
Women in the Fastener Industry Announced the Scholarship Winners for the Margaret Davis Fastener Fair USA Scholarship. Congratulations to Leslie Marquina of Houston Fastener Manufacturing and Krista Osborne Brighton Best International. If you’d like to join WIFI go to FastenerWomen.com
AFC Industries continues their fast paced acquisition strategy with another recent announcement that they have acquired New Jersey based Fastbolt. Terms of the deal were not disclosed.
The Fastener Distributor Index (FDI) survey for April 2023 declined again to 46.3 after reading 48.6 in March, seasonally adjusted. While the Forward-Looking Indicator (FLI) sank to a new all-time low with a reading of 37.8. Respondents indicated raw material shortages and declining prices/margins were the primary drags in April. The Forward-Looking Indicator (FLI) also softened to just 37.8 (March 44.3). Overall, the FDI/FLI results suggest conditions remain soft in the fastener market.
Listen to episode 188 of Fully Threaded Radio for further commentary of this month’s FDI reading, go to FullyThreaded.com
The St. Louis Federal Reserve Producer Price Index for the Commodity: Bolts, Nuts, Screws, Rivets, and Washers for April 2023 Registered at 303.173, a slightly upward trend vs the March reading of 302.059. 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.
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The Würth Group has released their 2020-2022 Sustainability report which stated: “For us, the three transformation areas on our path to a circular economy are clear: Climate, material life cycles and social standards. The future viability of the Würth Group depends on creating circular connections, which in turn result in endless new possibilities for future generations. We are striving for climate neutrality by using renewable energy sources. We are establishing closed life cycles for commodities and materials along complex supply chains. We are endorsing fair cooperation within our global supply chain.
Sponsor: The International Fastener Expo is accepting nominations for the 2023 Fastener Hall of Fame and Young Fastener Professional of the Year prestigious Awards. The Fastener Hall of Fame recognizes professionals who have made significant and enduring contributions to the industrial fastener industry on a national or global scale. Individuals selected for induction will join other honored industry members, including but not limited to inventors, business leaders, and educators. The Young Fastener Professional of the Year award recognizes and honors a young professional who has made significant contributions to fastener industry. The recipients will be recognized at a special event during the International Fastener Expo and receive a commemorative plaque. Deadline for nominations has been extended to June 30th! Nominate today: https://fastenershows.com/awards-events-page/ife-2023-awards/
How Screws and Bolts are Made – The Basics of Cold Heading an upcoming webinar Co-Produced by Fastener Training Institute and the Industrial Fasteners Institute will take place on Friday, May 19th from 12:00 p.m. to 2:00 p.m. ET. Whether you are new to the fastener industry or a seasoned veteran, have you ever wanted to know more about how threaded fasteners are made? Although there are different methods that can be employed, the most common way of forming a fastener is by cold heading. This webinar will introduce participants to a high-level overview of cold heading, its advantages, the cold heading machine process, machine types as well as descriptions and the tooling necessary to make it all happen. Register: https://fastenertrainingevents.com/how-screws-are-made.htm
The Midwest Fastener Association is offering an intermediate training session Essentials of Metallurgy on May 24, 2023 which will includes training in various areas by industry experts. Anyone selling or purchasing fasteners should have a comprehensive knowledge of Metallurgy, Heat Treating and Plating. The hands-on training will be taught at both SWD, Inc. and Morgan O’Hare. Go to https://mwfa.net/ to register for class.
MWFA will host their Screwed Up 2023 Open on May 25th at the White Pines Golf Club in Bensenville, IL. Join the MWFA for some in person networking and practice your golf before their official golf outing scheduled in August. Don’t miss the fun! Go to https://mwfa.net/ for registration. Attendees can Join the MWFA for their second “Quarterly” Nuts & Brews after the Screwed Up Open at Church Street Brewing Co.
The Fastener Training Institute is offering online training in their upcoming Webinar: Hydrogen Embrittlement – What Suppliers Need to Know. The class will take place on Thursday, May 25, 2023 11:00 a.m. – 12:30 p.m. PT The Webinar Instructor is Carmen Vertullo of Carver labs, Fastener Consultant and Trainer. There is no quality assurance problem that gets suppliers in more trouble than Hydrogen Embrittlement (HE). This could easily be the most important 90 minutes of training your company EVER engages in. It does not matter if you process fasteners that are HE susceptible or not, you probably sell them or handle them somewhere in the supply chain. It is critical that you have a good understanding of Hydrogen Embrittlement, its causes, its effects and how to prevent and detect it. Register at https://fastenertrainingevents.com/hydrogen-embrittlement.htm
To learn more about our NEWS SERIES: FASTENATING a limited time offer ‘Celebrating Your Success” Go to the Fastener News Group at LinkedIn. Your entry could be chosen for a FREE feature at Fastener News Desk which includes premium placement, link to your website, promo in the Fastener News communities, feature in an upcoming newsletter and ‘IN THE NEWS Podcast’ Entries may be submitted to lisa@fastenernewsdesk.com
BTM Manufacturing, Domestic Fastener Manufacturer is partnering with Issco, Inc, Twin Lakes Insurance, and Wachter Inc for an upcoming event to help support the good work of the Sleep in Heavenly Peace Organization. Help Jake and his team build 100-beds on June 10th. There is a couple of ways to get involved. Volunteer To Help Build or Donate funds. The cost of this project is $25,000. Donated funds will provide the necessary lumber and hardware to build and assemble the beds as well as provide the mattresses, pillows, and bedding to make them complete. Every child deserves a warm, soft, and safe place to sleep at night and with your help we can see that NO KID SLEEPS ON THE FLOOR IN ANY TOWN! For more info on how you can help go to @BTMmfg on twitter. Together we make sure that every child has a bed to sleep in.
Donate: interland3.donorperfect.net/weblink/weblin
Help Build Beds: signupgenius.com
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!
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