IN THE NEWS with Fastener News Desk the Week of February 14th, 2022
It’s IN THE NEWS the Week of February 14th, 2022
Watch now on FastenerTV at YouTube: (8:57)
It’s IN THE NEWS the Week of February 14th, 2022
Happy Valentines Day!
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In Fastener News:
The January seasonally adjusted Fastener Distributor Index (FDI) was slightly softer m/m at 52.7, although modest underlying improvement was seen in most metrics; the seasonal adjustment factor downwardly impacted results as January is normally the strongest month of the year for the index.
Respondent commentary pointed to customer fatigue amid erratic supplier deliveries and lead times. The Forward-Looking Indicator (FLI) was modestly softer as well, coming in at 62.8, due to higher inventory levels and a less-optimistic six-month outlook.
Net, we believe fastener market conditions were mostly stable with December with continued very strong demand partially weighed down by persistent supply chain challenges.
MacLean-Fogg Component Solutions (MFCS), a leading supplier of original equipment automotive components, announces the launch of the Threadstrong® brand and accompanying ecommerce website www.Threadstrong.us.
Brad Southwood, Vice President of Sales and Marketing said “We are well known as the leading OEM supplier in North America for high performance, decorative wheel fasteners. It’s always been frustrating to us to see the aftermarket flooded with inferior, low quality and potentially dangerous replacement wheel fasteners of unknown origin. So, we decided to do something about it.”
“No team is more knowledgeable about how to engineer and manufacture safe and durable wheel fasteners than the MacLean-Fogg team. They’ve been the leading supplier to many of the world’s largest automakers for over 40 years. They want the aftermarket consumers to know that when they buy a Threadstrong® wheel fastener, they can trust it was made in the U.S.A to all of the needed safety specifications.” Said Rob Whitney, President of the MFCS Fastener Division.
In Fastener Expo News…
2022 marks the 40th anniversary of the Fastener Hall of Fame, which recognizes professionals who have made significant and enduring contributions to the industrial fastener industry on a national or global scale. As part of the annual International Fastener Expo, the Hall of Fame inductees are selected from names submitted by people like you.
Now is the time for you to nominate someone you think has made a difference to the fastener industry, through leadership, innovation, and education. The process is simple: visit FastenerShows.com to submit your nomination online. The deadline this year to submit nominations is July 30.
Are you ready to nominate a deserving colleague today! Get nomination info at FastenerShows.com
Registration is OPEN for FastenerFairUSA taking place: May 17-19, 2022, at Huntington Place, Detroit, MI.
In Technology News…
SaaS startup Aramid Technologies announced that they have raised $2M in seed funding to expand its flagship product, SmartCert. SmartCert is a supplier collaboration platform that streamlines the processes by which companies prepare, manage and share quality certifications that underpin trillions of dollars in global commerce. SmartCert® builds power, speed and strength into your entire supply chain improving efficiency, time and lost revenue. Aramid Co-Founder and CEO Lyndon Laaattie said “After spending my career seeing how much time, money and opportunity was wasted due to cert problems, I knew there had to be a better way” The team is uniquely qualified to exploit this opportunity, with Laaattie’s intimate knowledge of the problem and industry, having spent 20 years selling engineered products into the aerospace, medical device and general industrial supply chains. The seed funding will enable Aramid to optimize SmartCert’s sales and onboarding processes, strengthen the technology team, and expand the product offering. Read More:
Read more about the stories featured in this week’s episode of IN THE NEWS at FastenerNewsDesk.com or in our @FastenerNews twitter feed and LinkedIn community.
Fastener Industry Events include….
February 18th is Fastener Basics Like Never Before Webinar Series | Electronic Assembly Hardware. Electronic Assembly Hardware is a mainstay for some fastener suppliers & an annoyance for others, but there is always room for growth and profit if you know how to sell it! Learn the basics of special hardware items in this new live webinar! Register at FastenerTraining.org
Fastener Training Institute announced last week that the dates for Fastener Training Week Cleveland have been changed to May 2-6, 2022
The advanced technical training program is offered in partnership with Industrial Fastener Institute and is beneficial training for fastener distributors, manufacturers, and end-users. Fastener Training Week offers five intensive days of education and plant tours as part of the FTI Certified Fastener Specialist™ (CFS) advanced technical training program. After completing this industry training in a small group environment and passing a final exam, attendees are eligible for the Certified Fastener Specialist™ (CFS) designation. For more info and to get registered go to FastenerTraining.org Read more:
Fastener News Desk introduces new series:
Let’s Talk About It! Fastener News Desk wants to hear from you. In 300-500 words tell us what you think about: state of the fastener industry, supply chain disruptions, fluctuating pricing, 3DPrinting, Workforce, Digital Transformation, eCommerce or something else you’re passionate about that effects the industry. Your entry could be chosen to be featured at Fastener News Desk, which includes a link to your website and promo in our fastener news communities.
And in the Spring of this year, Fastener News Desk will be opening online doors to The Fastener Museum, a collection of industry memorabilia that dates back over the past decades. We welcome all fastener companies to share individual digital images of your memorabilia with us to add to the Fastener Museum and help create the largest online collection of fastener related history.
If you would like to share your company’s events, news or sponsor an upcoming episode of IN THE NEWS or add to the Fastener Museum me: firstname.lastname@example.org.
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.