The Fastener Distributor Index (FDI) survey for June, 2023. The FDI gained slightly last month to 45.6 after reading 44.7 in May, seasonally adjusted. The Forward Looking Indicator (FLI) dipped slightly to 39.3, approaching its all-time low reading of 37.8 in April of this year.
Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) 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 FLI – suggesting conditions could get weaker ahead.
Listen to episode #190 of the Fully Threaded Radio podcastfor further commentary.
FND encourages all North American fastener distributors to take part in the FDI Monthly Survey.
If you are interested in being a more active part of the fastener industry, you can apply to add your company to the FDI survey group. Complete the “Request an Invitation to Participate” form by clicking here. Once verified, you will receive login ID and password information and you will be notified by email every month when the survey period has been opened.
– Fastener News Desk
About the Fastener Distributor Index (FDI).
The Fastener Distributor Index (FDI) was developed as a service to the fastener industry by the FCH Sourcing Network in 2012 to be a new benchmark for the fastener industry. The FDI is a monthly survey of North American fastener distributors, conducted with the FCH Sourcing Network and Baird with support from the National Fastener Distributors Association. It offers insights into current fastener industry trends/outlooks. Similarly, the Forward-Looking Indicator (FLI) is based on a weighted average of four forward-looking inputs from the FDI survey. This indicator is designed to provide directional perspective on future expectations for fastener market conditions. As diffusion indexes, values above 50.0 signal strength, while readings below 50.0 signal weakness. Over time, results should be directly relevant to Fastenal (FAST) and broadly relevant to other industrial distributors such as W.W. Grainger (GWW) and MSC Industrial (MSM).
The FDI Survey website is a resource than can be accessed by anyone, but it can only be updated by registered users during the monthly open survey period, which occurs during the last week of each month.
What year did the first woman get inducted into the Fastener Hall of Fame?
What is the name of this fastener industry pioneer?
Watch Fastener Pop Quiz Video:
Answer: 1993, Edith Cameron
Edith A. Cameron was born in Mohawk, NY. A native of upstate New York, Cameron moved to Westport in 1956. She worked in the nuts, bolts and fastener industry for more than 55 years, during which time she was cleared to work on the Manhattan Project, and was appointed by President Roosevelt to be in charge of nickel procurement during World War II.
The church’s pastor of 13 years described Cameron as a stalwart in the fastener industry who persevered in a man’s business and went on to earn numerous accolades, including her 1993 induction into the industrial fastener industry’s Hall of Fame.
“She was like an icon in the industry,” said her friend, Ellen Grimaldi. “Edith was the fastener queen. She knew everything about the business. She was the top dog, male or female, she was unbeatable.” Grimaldi said she will remember Cameron for her strength and professionalism, which helped her succeed in a male-dominated industry. “There was such a strong respect for this woman in this male industry that nobody said anything bad about her, except that she was tough,” Grimaldi said.
Cameron was known to have signed business letters as “E.A. Cameron” to hide her gender from those she hadn’t met. Grimaldi said Cameron exuded professionalism by dressing in suits and muted colors. But it was her technical knowledge that most impressed clients and colleagues, she said.
NOTE: Comments are from Edith’s memorial service in 2011.
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The Great Lakes Fasteners Group has acquired Connection Services Company of Benton Harbor, Michigan, and continues its rapid growth plans serving manufacturers in the greater Midwest region.
BENTON HARBOR, Mich., July 11, 2023 (Newswire.com) – The Great Lakes Fasteners Group has acquired Connection Services Company of Benton Harbor, Michigan, and continues its rapid growth plans serving manufacturers in the greater Midwest region.
Founded in 1987 by Richard W. Adent, Connection Service Company has been a pillar in the southwest Michigan region serving a variety of customers from large manufacturers to small service companies. Now led by his son, Richard “Todd” Adent, Connection Service continues to grow by providing standard, metric, and special fasteners to print. In addition, Connection Services is a boutique manufacturer of standard and special U-bolts, threaded rods, and special threaded studs. Todd Adent joked, “Kevin and I tried to join forces 10 years ago as we clearly saw a connection (pun intended), but the timing just was not right.” “All of us at Connection Service are looking forward to bringing our two families together, as we are both hard working organizations driven to deliver quality service, a vast array of products, and be the value leader for our customers.”
Connection Services will join forces with the fastener distribution group formed by Kevin Weidinger, owner of the portfolio. The group operates Great Lakes Fasteners, Nut & Bolt Fastening Solutions, and most recently Lakeshore Shore Fastener and Hodges Fastener Corporation purchased in September 2022. The group is headquartered in Cleveland, Ohio, with distribution and manufacturing centers in Michigan, Ohio, New York, and Wisconsin. The consortium strives to maintain the distributors’ local identities in their communities yet leverage the collective strength and size of the enterprise. Customers enjoy a vast inventory of standard and special fasteners plus bundled lean production services, including kitting, packaging, sub-assembly, and managed inventory programs (VMI).
Weidinger said, “Connection Services brings us talent, capabilities and a geographic location to expand our presence in Michigan, as well as serve customers and prospects in northern Indiana with ease.” Weidinger continues, “Manufacturing was a strategic initiative that we were driven to add, and the relationship with Connection Services gives us a perfect entry with products that many of our customers already buy.” “I had the pleasure of cutting, threading and bending some u-bolts with Todd this past week, and I know my grandfather was smiling down from heaven, as he was an engineer and maker of many prototypes for the Big 3.”
Headquartered in Cleveland (Twinsburg), Ohio – The Great Lakes Fastener Group is a full-line fastener distribution and manufacturing company that offers its clients a comprehensive portfolio of standard, metric and made-to-print fasteners, packaging services and innovative inventory solutions. The group maintains a quality management system to the ISO 9001:2015 and AS9100 standard.
WINONA, Minn.–(BUSINESS WIRE)– Fastenal Company (Nasdaq: FAST) is proud to announce the publication of its 2023 ESG Report. The report, which recaps Fastenal’s performance and progress in 2022, was produced with reference to the Global Reporting Initiative (GRI) standards and aligns with the ESG disclosure and reporting frameworks established by the Sustainability Accounting Standards Board (SASB) and the Taskforce on Climate-Related Financial Disclosures (TCFD).
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 (detailed strategies and goals) for each of the ESG topics found to be most significant.
Other 2022 highlights:
Created an ESG Community of Practice to promote structured collaboration among leaders and subject matter experts across the organization who are vital to executing the roadmap.
Achieved third-party certification to the ISO 45001 occupational health and safety management systems, the ISO/IEC 27001 information security management systems, and the ISO 14001 environmental management systems – together reflecting Fastenal’s commitment to being a safe, secure, and sustainable organization.
Established a perennial “Blue Team Blood Drive” in partnership with the American Red Cross and other blood supply organizations. The program includes in-person blood drives at large Fastenal facilities as well as a virtual blood drive, which allows employees and friends to participate at local community sites worldwide.
“Our ESG vision centers on three pillars that reflect who we are and what we believe in – empowering people, preserving our world, and serving as a trusted partner,” said Dan Florness, Fastenal’s president and CEO. “The ‘Blue Team’ at Fastenal is working hard to move forward on these fronts, and we’re excited to see where the journey takes us in years to come.”
Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.
Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.
This release includes forward-looking statements, which are subject to risks and uncertainties. The forward-looking statements contain words such as “plan,” “believe,” and similar expressions and our sustainability goals, targets, and expectations are long-term and inspirational and by their nature, include forward-looking statements. Actual results may differ from those set forth in the forward-looking statements due to a variety of factors, including those described in our ESG Report and our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Fastenal undertakes no obligation to update or revise any forward-looking statements.
Here’s what’s happening in fastener industry news, recent acquisitions, and upcoming events the week of July 10, 2023.
Watch Now on FastenerTV at YouTube: (10:58)
The Industrial Fasteners Institute announced it is starting the development of a groundbreaking new apprenticeship program for machine operators that will be recognized by the U.S. Department of Labor. The program will address the pressing issue of a workforce shortage in the fastener manufacturing industry. With an increasing number of skilled machine operators retiring each year transferring their knowledge and expertise to the next generation has become critical. IFI has partnered to develop the apprenticeship program with the Marshall University Advanced Manufacturing Center (MAMC) in West Virginia. For more info go to: https://www.indfast.org/
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Bulten has entered into an agreement to acquire all shares in Exim & Mfr Holdings Pte Ltd “Exim”, a Singapore-based distributor of fasteners and other components, for a purchase sum of approximately 66.3 million Singapore dollars. The acquisition affords Bulten a good platform to grow in new sectors, where the distribution stage is a pivotal sales channel. Read more:
SFS has extended their market presence in the commercial construction industry in North America. SFS Group has acquired part of the business concerning fasteners and other products of Connective Systems & Supply, Inc. (CSS), which generated sales of $15 million in 2022. The business will be incorporated into the Triangle Fastener Corporation (TFC), which is part of the SFS Group. The acquisition enables SFS to strengthen its market position in the United States in the fast-growing region surrounding Denver, Colorado. Read more:
In a recent press release from RX Global…Fastener Fair USA 2023 took place with great success May 16-17 in Nashville, TN. The event brought together industry professionals, exhibitors, and thought leaders from around the world creating an exceptional platform for sourcing, networking, learning, and more. The two-day event featured a diverse range of more than 200 exhibitors and attendance was up by 25% from 2022. Save the date for Fastener Fair USA 2024, taking place in Cleveland, Ohio May 22-23. Read more:
The National Fastener Distributors Association (NFDA) recently awarded a scholarship for Fastener Training Week, an advanced fastener technical training program produced by the Fastener Training Institute. Scholarship applicants were evaluated based on the recommendations from their employers, personal achievements, work experience, and an essay. Congratulations, Garrett Wilson, sourcing and inside sales for NSK Industries.
The next deadline to apply for an NFDA Fastener Training Week scholarship is June 1, 2024. For more info go to https://www.nfda-fastener.org/
ATTN: Women in the Fastener Industry! LAST CALL for the WIFI Ann Bisgyer Wolz Scholarship. Applications are due today July 10th. Don’t miss this amazing opportunity to become a Certified Fastener Specialist with the Fastener Training Institute. To apply or join WIFI go to: https://www.fastenerwomen.com/scholarships
Take advantage of a $50.00 discount on your IFE 2023 registration. Use promo code: FND50
SPONSOR: 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
SPONSOR: 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!
Mark your calendar for an upcoming webinar from the Fastener Training Institute, Understanding Fastener Technical Drawings scheduled for Thursday, July 20, 2023 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
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
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 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 at the International Fastener Expo.
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. For more info and to register your MFG Day 2023 event go to https://mfgday.com/
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.
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”!
GLENDALE, CA (June 28, 2023) – Fastener Training Institute (FTI) is partnering with International Fastener Expo (IFE) and hosting a day-long fastener training class on Monday, October 9. IFE runs October 9-11 in Las Vegas, Nevada.
Fastener Fundamentals – The Nuts and Bolts for Fastener Professionals, will be instructed by Carmen Vertullo, Fastener Consultant and Trainer of Carver Labs. He will teach the basics of fasteners and beyond to industry professionals including the best of Fastener Training Institute’s Fastener Basic Training and Certified Specialist Training programs.
“This is an incredible opportunity for those attending IFE. Carmen is a highly sought-after instructor who brings years of fastener experience and an eagerness to share knowledge with others,” said Jo Morris, Marketing Director for FTI.
This class is full of favorite topics and must-knows for every fastener professional and is interactive with learning exercises, case studies, and valuable take-home resources. Topics will include types and applications of various threaded and non-threaded fasteners, fastener standards organizations, fastener technical libraries, basics of fastener materials, platings, coatings and corrosion prevention for fasteners. Attendees will learn what fastener suppliers can do to add value, reduce risk, increase profits, and more.
Early-bird registration is available until October 7 for $399. On October 8, the price increases to $449. Learn more and register.
Support from Würth Industry North America, FTI’s 2023 Sustaining Sponsor, provides quality fastener education opportunities like Fastener Fundamentals.
About Fastener Training Institute
The Fastener Training Institute is a nonprofit organization that provides beginning and advanced training on fastener products, standards and specifications. Its core purpose is to enhance fastener use, reliability and safety with a mission is to make industry professionals more knowledgeable about the fastening products they buy, sell, specify or use.
Norwalk, CT (June 2023) – Fastener Fair USA 2023, the premier event for the fastener industry, took place with great success on May 16-17 in the vibrant city of Nashville, TN. The event brought together industry professionals, exhibitors, and thought leaders from around the world, creating an exceptional platform for sourcing, networking, learning, and more.
The two-day event featured a diverse range of 200+ exhibitors (doubling the 2022 show size), showcasing the latest products, technologies, and services that are shaping the fastener industry. Attendance was up by 25% from 2022, and all attendees had the opportunity to explore a wide variety of fasteners, adhesives, assembly tools, and more, gaining valuable insights and discovering innovative advancements driving the industry forward.
Before the official opening of the exhibit hall, Fastener Fair USA 2023 kicked off with the highly anticipated Fastening 101 conference and the Fastener Fair USA Golf Tournament, sponsored by MWFA and NCFA. The Fastening 101 conference provided a comprehensive overview of the industry including fastening techniques, manufacturing processes, quality control, consensus standards, and more, catering to both newcomers and industry veterans. The Fastener Fair USA Golf Tournament offered participants a friendly round of golf while fostering new connections and enjoying the beautiful Hermitage Golf Course – President’s Reserve.
One of the highlights of Fastener Fair USA 2023 was the opening night Networking Party held at the esteemed Country Music Hall of Fame. Attendees had the opportunity to network in a relaxed and enjoyable atmosphere, surrounded by live music from Tommy O’Keeffe, an open bar, great food, and private touring access to the museum dedicated to the rich history and culture of Nashville’s legendary music scene.
“Fastener Fair USA 2023 was an extraordinary showcase of innovation and collaboration within the fastener industry,” said Bob Chiricosta, Event Director of Fastener Fair USA. “I am proud of the remarkable success of this event, where industry leaders and professionals from around the world converged to connect, learn, and shape the future of fastening solutions. I extend my gratitude to every exhibitor, attendee, and partner for their invaluable contributions to this successful event. Fastener Fair USA has not only transformed businesses but has also ignited the spark of inspiration that will continue to propel the industry forward. We eagerly anticipate seeing everyone again next year in Cleveland, Ohio.”
Save the date for Fastener Fair USA 2024, taking place in Cleveland, Ohio at the Huntington Convention Center of Cleveland on May 22-23. Fastener Fair USA 2025 will return to Nashville, dates to be announced. Get ready to connect with the industry, learn from top fastener professionals, and grow your business!
To pre-register for Fastener Fair USA 2024 and learn more about the event, please visit www.fastenerfairusa.com.
About Fastener Fair USA
Fastener Fair USA is North America’s fastest-growing trade show and conference event for the fastener industry and the manufacturing sectors it serves. This dynamic and productive two-day event serves as an essential marketplace drawing fastener professionals from every segment and all around the world. The event is organized by RX, a leading organizer of international trade shows and conferences. www.fastenerfairusa.com
About RX
RX is in the business of building businesses for individuals, communities and organizations. We elevate the power of face-to-face events by combining data and digital products to help customers learn about markets, source products and complete transactions at over 400 events in 22 countries across 43 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com
Bulten has entered into an agreement to acquire all shares in Exim & Mfr Holdings Pte Ltd “Exim”, an Asian, Singapore-based distributor of fasteners and other components, for a purchase sum of approximately SGD 66.3 million (SEK 530 million) on a cash-free and debt-free basis. The acquisition affords Bulten a good platform to grow in new sectors, where the distribution stage is a pivotal sales channel.
The acquisition is expected to contribute to Bulten’s development and earnings, and to increase earnings per share. Exim gives Bulten access to a large, broad customer base in growth sectors in a dynamic region. The acquisition is an important part of Bulten’s strategy, which aims for growth outside of the company’s primary customer group of automotive, and to improve risk diversification, as well as margins.
Anders Nyström, President and CEO of Bulten Group, comments: “Our strategy sets out a clear focus on balancing our sales through growth in customer groups beyond the automotive industry. The aim is for these to account for at least 20% of sales by 2025. The acquisition of Exim takes us into the distribution stage, which is a key to profitable growth in new sectors. Exim is a well-managed company with an international customer base and developed processes for distribution and Vendor Managed Inventory (VMI), which is suitable for industries with completely different purchasing patterns than Bulten has historically been used to. Exim’s base in Singapore is also highly attractive. It enables us to take advantage of the strong growth in that region, and we also see potential in using Exim’s sales network to increase sales for our factories in China and Taiwan. Exim will, together with Bulten’s rapidly growing business to consumer electronics customers, constitute the beginning of a new industrial segment.”
Background Exim & Mfr Holdings Pte Ltd is a privately owned company based in Singapore. Established in 1982, the company distributes fasteners and other c-parts*, along with related services from more than 1,800 manufacturers and suppliers for American, European, Indian and Japanese companies operating in Asia. The company has more than 1,000 customers in a range of sectors including telecom, electronics, energy, medical technology, aviation, and other industrial manufacturing. Exim has approximately 140 employees in Singapore, India, Indonesia, Malaysia, Thailand, the Philippines and Vietnam, and annual sales of about SGD 40 million (SEK 320 million).
Purchase sum and completion The purchase sum is approximately SGD 66.3 million (SEK 530 million) on a cash-free and debt-free basis. The sum will be paid in cash with equal financing from an existing credit facility with Svenska Handelsbanken and an additional loan from the Swedish Export Credit Corporation. The acquisition is expected to be completed during Q3 2023. The transaction cost is estimated at SEK 8 million.
KPMG, Drew & Napier, and Setterwalls are acting as advisers to Bulten in connection with the acquisition.
Access to the shares is expected to take place on August 31, 2023, taking into account the fulfillment of customary conditions according to the transfer agreement.
*Components with a low unit price that manufacturing companies stock in large quantities.
Questions related to the entered agreement regarding the acquisition can be asked at Bulten’s presentation of the Q2 result on July 12.
For further information, please contact: Ulrika Hultgren, SVP Corporate Communications & IR, +46 727-47 17 58, ulrika.hultgren@bulten.com
This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 23:25 CEST on July 6, 2023.
About Bulten Group
Bulten Group is a leading global manufacturer and supplier of fasteners to the automotive industry, as well as other industries such as consumer electronics. The offering extends from a wide range of standard products to specially adapted fasteners. With Bulten’s Full Service Provider concept (FSP), customers can entrust all their fastener needs to the company, including development, sourcing, logistics and service. Bulten was founded in 1873, has approximately 1,600 employees around the world and is headquartered in Gothenburg, Sweden. Net sales in 2022 totaled SEK 4,474 million. The share (BULTEN) is listed on Nasdaq Stockholm.
On July 1, 2023, the SFS Group acquired the part of the business concerning fasteners and other products of Connective Systems & Supply, Inc. (CSS). This business area of CSS generated sales of USD 15 million in 2022 with about 20 employees. The acquisition enables SFS to strengthen its market position in the United States in the fast-growing region surrounding Denver, Colorado.
Since it was founded in 1985, Connective Systems & Supply, Inc. (CSS) has become a key partner for fasteners and other products for end users in the construction industry in the US state of Colorado. The company employs a total of 20 staff in the acquired business area at two sites in the region surrounding Denver.
Retaining and expanding capabilities and capacities In organizational terms, the business will be incorporated into the Triangle Fastener Corporation (TFC), which is part of the SFS Group. With 25 distribution sites in the United States, TFC acts as a supplier of fastening systems and other products for end users in the construction industry. Within the SFS Group, TFC is part of the Construction division in the Fastening Systems segment. The local presence that CSS has will remain, and all 20 employees in the business area will be taken on. The current managers will remain in post at both sites.
Expanding access to markets in the central and western US states The construction industry has experienced an exceptional demand situation in North America and Europe in recent years. Thanks to successful positioning, an attractive portfolio and robust supply chains, SFS has recorded strong results in its business with customers from the construction industry. The Denver region is seen as a region of growth in the United States. The acquisition strengthens TFC’s market position in this attractive market.
INDEPENDENCE, OHIO (June 27, 2023) – The Industrial Fasteners Institute (IFI) has announced it is starting the development of a groundbreaking new apprenticeship program for machine operators that will be recognized by the U.S. Department of Labor. This program will address the pressing issue of a workforce shortage in the fastener manufacturing industry. With an increasing number of skilled machine operators retiring each year transferring their knowledge and expertise to the next generation has become critical. IFI has partnered to develop the apprenticeship program with the Marshall University Advanced Manufacturing Center (MAMC) in West Virginia. Marshall’s MAMC is well-versed in developing manufacturing apprenticeship programs, having successfully written and implemented multiple such programs across the country today. “The shortage of workers in fastener manufacturing will not resolve itself independently. Each year, our industry continues to lose skilled machine operators to retirement. That knowledge must be passed on to the next generation,” stated Dan Walker, Managing Director of IFI. “IFI and its members have decided to roll up our sleeves and create an apprenticeship program for our industry to help solve this ongoing problem.”
Under the leadership of IFI’s Chairman, Gene Simpson of Semblex Corporation, the development of this program represents a significant collaborative effort. Simpson stated, “An initiative as important as this needs to be driven by a group like the IFI. Many companies have programs that work well, but these are individual efforts with a heavy burden and mixed results. By leveraging IFI’s collective knowledge and resources with the help of Marshall University’s Advanced Manufacturing Center (MAMC), the goal is to create a program that will create consistency and results for use by the entire industry.”
MAMC’s Apprenticeship Works, the National Advanced Manufacturing Apprenticeship Partnership (https://www.rcbi.org/industry/apprenticeships/), assists companies nationwide in developing and implementing DOL Registered Apprenticeships in more than 20 occupations. Apprenticeship Works is funded entirely through a $4.5 million grant from the U.S. Department of Labor – Employment & Training Administration.
“We are honored that IFI has chosen our proven apprenticeship model to help develop a pipeline of skilled talent for this important manufacturing sector,” said Derek Scarbro, MAMC’s interim director. “The fastener industry is a critical link in the supply chains of key sectors, from automotive and aerospace to defense. Creating a highly qualified workforce is imperative to strengthening American manufacturing.”
About IFI The IFI is an engineering-oriented association addressing the operational concerns of its members and representing the North American fastener manufacturing industry to a variety of internal and external stakeholders. IFI is involved in setting industry standards with SAE, ASTM, ISO, and others, as well as developing and publishing its own standards in response to member issues.
FND encourages all North American fastener distributors to take part in the FDI Monthly Survey.
Norwalk, CT (June 2023) – Fastener Fair USA 2023, the premier event for the fastener industry, took place with great success on May 16-17 in the vibrant city of Nashville, TN. The event brought together industry professionals, exhibitors, and thought leaders from around the world, creating an exceptional platform for sourcing, networking, learning, and more.
INDEPENDENCE, OHIO (June 27, 2023) – The Industrial Fasteners Institute (IFI) has announced it is starting the development of a groundbreaking new apprenticeship program for machine operators that will be recognized by the U.S. Department of Labor. This program will address the pressing issue of a workforce shortage in the fastener manufacturing industry. With an increasing number of skilled machine operators retiring each year transferring their knowledge and expertise to the next generation has become critical. IFI has partnered to develop the apprenticeship program with the Marshall University Advanced Manufacturing Center (MAMC) in West Virginia. Marshall’s MAMC is well-versed in developing manufacturing apprenticeship programs, having successfully written and implemented multiple such programs across the country today.
