Author - fluentdesigns

mid-states-bolt-&-screw-co.-celebrates-50yrs!

Mid-States Bolt & Screw Co. Celebrates 50yrs!

mid-states bolt and screw co.

Mid-States Bolt & Screw Company, also known as “the dedicated fastener people”, is celebrating 50yrs of business on May 24th, 2023!

Mid-States Bolt & Screw Company, also known as “the dedicated fastener people”, is celebrating 50yrs of business on May 24th, 2023!Mid-States Bolt & Screw Company has an extensive inventory of nuts, bolts and screws. The saying goes, “if we don’t have it, we can find it”, “if we can’t find it, it doesn’t exist.”  Fasteners are used in different applications and are needed across many industries. The diversity of their uses and the industries that use them are a key element of our company’s stability and longevity.

Our Founder, Herb Somers, had a vision for his fastener business that was simple and straightforward which led to the successful business it is today.

A vision that includes core principals such as cultivating a diverse customer base, treating customers like you want to be treated, knowing what you do well and do it, and hiring the right people.

After Herb’s passing, that vision was upheld by his three sons Scott, Matt and Marc and they continue his legacy today.  In 50 years, Mid-States Bolt & Screw Co. has grown from a business out of its founders’ basement to a multi-state, international business, with anticipated growth in the future.

We are proud to say our headquarters is in Burton, Michigan.  In 2019, we added another warehouse for our expanding Kitting Department, one of our services we provide to customers.  Other services we provide include: Industrial Supplies, MRO, VMI Programs and Industrial Vending Machines.

We also have locations in Saginaw, Lansing, Gaylord, Norton Shores, Shelby and Niles, MI and in Statesville, NC, Perrysburg, OH.  We have several crib locations in many states and 2 other countries, Mexico, and Canada.

If you ask the locals, Mid-States Bolt & Screw Co. is an integral part of the community. Settling itself in these different locations and becoming the fastener favorite to the surrounding areas.  Another example of our community involvement is our non-profit charity we started, Threads for Treads, T4T, which provides shoes and boots to local school students who are in need.

All of our success would not be possible without our wonderful employees. Many of our team members have been with us for over 10 years.  Several employees have been with the company much longer and had the distinct pleasure of working with our founder, Herb Somers, prior to his passing.  The Mid-States Bolt & Screw Company started small but was built on big family values. We know our people are what make us successful, and we trust our team to help us achieve our goals.  A special thank you to our Mid-States family!

Website: midstatesbolt.com


RELATED CONTENT:

ETANCO ESPAÑA – A “Fastenating’ Story to Tell

FASTENATING: Jay-Cee Sales & Rivet Celebrates 75 Years

Fastenating, Fastener News, Fastener News Desk, Fastener News Podcast

Read more...
in-the-news-with-fastener-news-desk-the-week-of-may-15,-2023

IN THE NEWS with Fastener News Desk the Week of May 15, 2023

Digital Media Advertising and Distribution for the Fastener Industry

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.

AFC Industries Acquires Fastbolt


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

Fastener Distributor Index (FDI) – April 2023


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.


Sponsor: Next generation advanced planning and scheduling is here! Optessa’s AI-driven optimization ushers in a new way for manufacturers to generate optimal plans and schedules in a fraction of the time. Respond to disruptions, meet delivery dates, reduce excessive parts inventory, eliminate costly idle time, and stabilize your supply chain. Request a live demo of Optessa’s NextGen APS platform today! Visit https://www.optessa.com/ for more information! 


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.

Würth Group Releases 2020-2022 Sustainability Report


About The Show - International Fastener Show

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/


Course DetailsWhether 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.

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.


Image

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


Sleep in Heavenly Peace – AZ Community Impact

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!


RELATED CONTENT:

IN THE NEWS with Fastener News Desk the Week of May 8, 2023

IN THE NEWS with Fastener News Desk the Week of April 24, 2023

Fastener Event, Fastener News, Fastener News Desk, Fastener News Podcast, Fastener TV

Read more...
what-is-supply-chain?

What is supply chain?

The supply chain is the interconnected journey that raw materials, components, and goods take before their assembly and sale to customers.

McKinsey & Company – Listen to the article: What is supply chain?

A supply chain is made up of interconnected parts of a whole, all of which add up to finished products bought by customers. Take automobiles, for example. Before a consumer buys a car, iron ore is extracted from the earth. The ore is transported to a plant, where it’s turned into steel, which is made into the chassis of the automobile. To make the car, various components—from engines to batteries, electrical components, rubber tires, a metal body, and paint—are assembled. Once the car is made, it’s sold in a retail setting to the end consumer.

That’s a good illustration of several types of supply chain stakeholders:

  • producers, which make or grow the raw materials for goods
  • vendors, which buy and sell materials
  • manufacturers, which make materials into goods
  • transporters, or logistics providers, which move those goods around the world
  • supply chain managers, which ensure that operations run smoothly in everything from planning to sourcing raw materials, manufacturing, delivery, and returns
  • retailers, which sell goods either online or in physical stores
  • consumers, who buy and use those goods and services

What’s the difference between value chains and supply chains?

A supply chain includes all the raw materials and parts that are made into a product and distributed up the chain for manufacture and sale. In contrast, a value chain encompasses all the individual steps that are taken to create a marketable product. That includes not only physical components but also various value-adding activities that might be classified as part of the “knowledge economy”—things such as innovation, design, marketing, and sales—and that lead to the development of a product ready for customers.

What is supply chain disruption?

When any link in a supply chain isn’t working optimally, you might say the supply chain has been disrupted. Different issues can emerge. For example, an increase in inbound material costs because one material costs more this year than it did last year can have major implications on a company’s cost structure. Or labor market mismatches can cause operational concerns—for instance, if transport companies can’t find enough people who want to drive trucks to deliver goods.

There are five areas where supply chain vulnerabilities most often show up:

  • planning and supplier networks
  • transportation and logistics systems
  • financial resiliency
  • product complexity
  • organizational maturity

McKinsey research suggests that supply chain disruptions lasting one month or longer now occur every 3.7 years, on average. And these disruptions can have a steep price: they cost the average organization 45 percent of a year’s profits over the course of a decade.

What are some supply chain risks?

Although the COVID-19 pandemic has delivered the biggest supply chain or value chain shock in recent memory, other examples abound. The Russian invasion of Ukraine has led to the worst humanitarian crisis in Europe since World War II, as well as supply chain disruptions in critical sectors, including agriculture, automotive, energy, and food. Changes in the environment and global economy have increased the frequency and magnitude of these shocks. For instance, the 2011 earthquake and tsunami in Japan shut down electronics factories, and 2017’s Hurricane Harvey disrupted US oil refineries and petrochemical plants, ultimately leading to shortages of some plastics and resins critical to different industries.

McKinsey has classified supply chain shocks into four different types, based on their impact, lead time, and frequency of occurrence:

  • Unanticipated catastrophes. These are historically remarkable events that can’t be anticipated and lead to trillions of dollars in losses. Examples include extreme terrorism and a systemic cyberattack.
  • Foreseeable catastrophes. Shocks in this category are of a similar magnitude to an unanticipated catastrophe but differ in that larger patterns and probabilities can guide general preparedness. Examples include financial crises and global military conflicts.
  • Unanticipated disruptions. These are serious and costly events but are on a smaller scale than catastrophes. Examples include data breaches, product recalls, and industrial accidents.
  • Foreseeable disruptions. Some disruptions can be spotted in advance of their arrival. Examples include China–US trade disputes and the United Kingdom’s exit from the European Union.

Organizations often focus on managing the shocks that they see most often. The COVID-19 pandemic is a reminder that while outliers are rare, organizations still need to consider such possibilities when making decisions and strategic moves. For most organizations, that will mean expanding supply chain executives’ long-standing focus on cost (and capital usage), service, and quality to include three new priorities: resilience, agility, and sustainability.

How does inflation affect supply chains?

Inflation can play a role in supply chain challenges. When inflation occurs, costs for input materials (such as energy) can rise substantially, having negative effects on companies’ profits and losses. One way to adjust is to increase prices (fairly) for consumers. Organizations can make more informed decisions by using an exposure matrix to assesses which categories of their products are exposed to market forces and whether the market is inflating or deflating. Also, organizations aren’t necessarily at the mercy of suppliers that say they have to increase prices in an inflationary market; McKinsey has identified several strategies for negotiating such demands.

Supply chain resilience?

Resilience refers to the ability to withstand, adapt, and thrive in the face of internal and external shocks—both known and unknown. More specifically, operational resilience, which encompasses supply chains, is about businesses maintaining robust production capacity that can accommodate shifts in demand and remain stable amid disruption, without letting quality slide.

When it comes to supply chain management, there are three steps that organizations can take to account for long-term uncertainty and possible upheaval:

  • Firefighting. This refers to short-term, day-to-day actions that can help identify previously overlooked supply chain gaps. These tactics don’t build resilience, however, so they should be used only in concert with more complex, long-term reforms.
  • Integrating and streamlining operations. Here, three actions can be critical to building resilient supply chains:
    • creating a nerve center to consolidate organizational responses
    • simulating and planning for extreme supply and demand disruptions
    • reevaluating just-in-time inventory strategies
  • Achieving structural resilience. Quick responses are easier to accomplish, but if long-term resilience is the goal, the following techniques can help:
    • constructing a digital twin of the most critical parts of the supply chain, allowing for simulations and test cases
    • creating and testing “what if” scenarios
    • increasing data sharing with suppliers
    • considering ring-fencing a small part of the supply chain team

Other factors, such as building transparency for multiple tiers of suppliers, will be crucial vis-à-vis supply chain risk management. To take just one example, tapping into digital tools, building skills, and getting clear on processes helped an aerospace player that looked to increase its supply chain resilience.

How do great supply chain organizations work?

Supply chain management (and operations, more broadly) is now a CEO-level concern. Some of the strategic operational questions that CEOs have on their agenda include the following:

  • Can we meet customer demand both today and tomorrow?
  • Should we boost capacity to prepare for prolonged, rapid growth or reduce it to prepare for a slowdown?
  • Where will we find workers who are skilled and digitally savvy?
  • How do we decarbonize, minimize regulatory risk, and stay in business?

Incremental efforts aren’t enough to capture the full potential, and drilling down in the right supply chain structure and physical footprints is a critical starting point. While it will take time to adapt supply or value chains (given challenges related to finding and qualifying alternative suppliers and to building new plants), taking a fresh look at networks and supply chain structures can help companies move forward.

Here’s an example from the automotive industry. McKinsey research uncovered that midsize supplier plants with 1,000 to 1,500 employees were nearly twice as likely as bigger or smaller counterparts to score in the top quartile on productivity. So having production divided among several plants rather than in a single megafactory could help a company move closer to customers and reduce location risks (for example, weather-induced closures).

Choices about supply chain design won’t work miracles. There’s no correlation, in McKinsey research, between supply chain organizational archetypes and bottom-line performance. But a variety of organizational mechanisms can supplement structure and help lead to successful outcomes. A survey found six markers of great supply chain teams, all of which were correlated with improved EBITDA:

  • end-to-end coordination
  • decision rights
  • performance metrics
  • social cohesion
  • career mobility
  • capability growth

What about digital supply chains?

Few established companies have fully digitized their end-to-end operations. But digitization can be a feasible solution to operational challenges seen across many companies and industries. Industry 4.0, or the Fourth Industrial Revolution (4IR), describes the impact that increased connectivity, automation, and more have had on technology, industry, and society. In a survey of more than 400 global manufacturers, more than 90 percent of respondents said Industry 4.0 has helped them sustain their operations during the COVID-19 crisis; over half said their digital transformations have been crucial to their pandemic responses.

Digitization, including advanced analytics, automation, and machine learning, can help operations become more productive, flexible, and geared for speed. Such approaches have yielded real results for some leading organizations—for example, reducing inventory and cost of goods sold by 30 percent, lowering cost of quality by 50 percent, and improving cash and productivity by 30 percent. Surveys also suggest that digitization and an embrace of Industry 4.0 technologies can boost eco-efficiency in supply chains.

While some leading organizations have already realized value from digitization, others are lagging behind. Modernizing supply chain IT—for instance, to improve demand forecasting and planning systems—can have a powerful effect. For organizations looking to step up on IT for supply chain planning, three steps can help:

  • Redesign processes.
  • Select vendors.
  • Create an implementation road map.

Cumulatively, these changes can have a significant impact, especially when they support a successful rollout of integrated business planning (IBP). Compared with organizations that lack a well-functioning IBP process, the average mature IBP practitioner realizes one or two additional percentage points in EBIT. Service levels are five to 20 percentage points higher. Freight costs and capital intensity are 10 to 15 percent lower, and customer delivery penalties and missed sales are 40 to 50 percent lower. IBP technology and process discipline can also make planners 10 to 20 percent more productive.

An interview with Kimberly-Clark chief supply chain officer Shane Azzi underscores the importance of digital tools in supply chains. “Like many companies, we don’t always have the full picture,” Azzi said. “That’s why digital becomes such an important part of the solution—because you’ve got to have that end-to-end picture. We must be able to see emerging risks further upstream and downstream than ever before.” To get there, the company has explored demand sensing, looked at suppliers’ production schedules and logistics plans, and used digital platforms to monitor in-transit shipments.

How does a supply chain affect sustainability?

Managing an operation’s environmental impact holistically can help in addressing environmental, social, and governance issues more broadly. And the first step is often to understand the potential impact of driving eco-efficiency.

Manufacturers in the Global Lighthouse Network (GLN), a collaborative initiative by McKinsey and World Economic Forum, that have embraced digital transformation have found that sustainability and competitive excellence may well go hand in hand. GLN data collected since the beginning of the project indicate that upward of 60 percent of “lighthouse” factories saw sustainability impact as part of the effect enabled by Industry 4.0 transformations. And that research highlighted three sustainability-focused manufacturing leaders based on their commitment to environment sustainability: Ericsson, Henkel, and Schneider Electric.

Within supply or value chains, resource cleansheeting can help in designing cost-effective, carbon abated products. Designers, engineers, and purchasers could use this approach to identify factors that affect costs and emissions for a given product or service along the entire value stream and throughout its life cycle.

More broadly, a number of companies are thinking about how to decarbonize their supply chains, focusing on Scope 3 emissions—that is, emissions generated up- and downstream in the value chain. This category of emissions can account for 80 percent of many companies’ overall climate impact. Consider the results that Interface, a carpet manufacturer in Europe, has seen since setting its mission-zero target in the early 1990s: it has since reduced its operations’ greenhouse-gas footprint by 96 percent and cut the carbon intensity of its products by 69 percent.

Consumer goods companies in particular are making strides in preparing for a sustainable future by transforming company operations across the entire supply chain. Henkel, a consumer goods company based in Germany, provides one example of how a sustainability focus can flow through a supply chain. In an interview, the chief supply chain officer for Henkel’s laundry and home care business describes how the division decreased its CO2 footprint by 65 percent in the past 15 years, improving operational performance at the same time it lowered costs and CO2 emissions.

Content Source:


RELATED CONTENT:

Creating Strong Digital B2B Channels at Industrial Companies

How distributors can self-disrupt to win in the new digital world

Fastener News Desk, Featured, Industrial Distribution, Supply Chain, Supply Chains

Read more...
fastener-distributor-index-(fdi)-–-april-2023

Fastener Distributor Index (FDI) – April 2023

The Fastener Distributor Index (FDI) survey for April, 2023 dropped again last month to 46.3 after reading 48.6 in March, seasonally adjusted. The Forward Looking Indicator (FLI) sank to a new all-time low with a reading of 37.8.

Key Takeaway:

The seasonally adjusted Fastener Distributor Index (FDI) weakened further to 46.3 compared to 48.6 in March. 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.

Read report:

FDI_Report_April_2023


Stay tuned for episode #188 of the Fully Threaded Radio podcast with John Kovatch of AFC Industries and further commentary on the April FDI. Tune in at FullyThreaded.com


FND encourages all North American fastener distributors to take part in the FDI. 

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.


RELATED CONTENT:

Fastener Distributor Index (FDI) – March 2023

Fastener Distributor Index (FDI) – February 2023

Fastener Distributor Index (FDI) – January 2023

Fastener Distributor Index, Industrial Distribution, Industrial Supply

Read more...
destination-space-shop

Destination Space Shop

By Steve Plumb

Senior Editor,

SME Media

Axiom-Module2_768x432.jpg

Axiom Space is building a series of modules that will connect to the International Space Station starting in 2025. The spacecraft will host people, research, and manufacturing projects for private customers. By 2031, the company aims to operate its own commercial space station. (All images provided by Axiom Space)

Axiom Space is building a series of modules that will connect to the International Space Station starting in 2025. The spacecraft will host people, research, and manufacturing projects for private customers. By 2031, the company aims to operate its own commercial space station. 

Space—the final manufacturing frontier. To seek out advanced technologies, materials, and processes. To paraphrase Star Trek’s Captain Kirk, these could soon be the voyages of the Axiom Space Station: Exploring low-Earth orbit and boldly go where no manufacturer has gone before.

Founded in 2016 by Michael Suffredini—NASA’s International Space Station (ISS) Program Manager from 2005 to 2015—and space entrepreneur Kam Ghaffarian, Houston-based Axiom Space Inc. won a $140 million contract with NASA in early 2020 to provide habitable spacecraft that can be attached to the ISS’ Harmony module. The first module is due to be completed and dock with Harmony in 2025, with two other modules to be added in subsequent years.

In addition to supporting the ISS, which is jointly run by the United States, Canada, Europe, Japan, and Russia, the Axiom Space modules will host people, research, and manufacturing projects for private customers. To this end, the company says it has multiple international partnerships and secured $2 billion in customer contracts—$400 million has already been received.

The overall mission is even more ambitious. By 2031, Axiom Space aims to succeed the ISS and become the first commercial space station. To kick off the program, the company sent a private astronaut crew to the ISS for a 17-day mission in April 2022. The Ax-1 team conducted crew-curated research, and collaborated with international organizations on various demonstrations and projects ranging from self-assembling technology for satellites and future space habitats to a cancer stem cell study.

The second trip is scheduled for late spring, with others to follow later in 2023 and possibly 2024. All the flights are conducted in partnership with SpaceX, which carries the four-person crew aboard its Dragon spacecraft atop a Falcon 9 rocket. Ax-2 will conduct more than 20 different experiments, including studies designed to help predict and prevent cancer, the effects of microgravity on crew members, and weather modification in low-gravity conditions.

Axiom Space is also working with academic and industrial partners to perform four proof-of-concept studies for in-space biomanufacturing, which the company thinks could address current roadblocks in regenerative medicine, drug development, and technology advancement.

“We’re delighted to support these scientific, research, and manufacturing projects on the Ax-2 mission, as well as provide opportunities to conduct research in microgravity for partner countries and nations with limited access,” Lucie Low, chief scientist for Axiom Space, said in March. “The projects flying on this mission will advance the use of low-Earth orbit as a manufacturing platform for technologies that could advance human health on Earth, add to our understanding of health in space, and demonstrate how to best operate safely and effectively on orbit.”

Ground Control

Back on Earth, the company is partnering with Italy’s Thales Alenia Space (a joint venture between Thales and Leonardo), which is welding and machining the primary structures for the initial space module. The first pieces of fabricated flight hardware are beginning to come together, according to Axiom Space, which will complete final assembly and integration in Houston.

Axiom_AxEMU_Team_01.jpg

Axiom’s mission is to expand robust scientific research, biomanufacturing, and technology demonstrations in low-earth orbit. Team members shown here are building an advanced spacesuit at the company’s Houston headquarters.

Axiom_AxEMU_Team_01.jpg

Axiom’s mission is to expand robust scientific research, biomanufacturing, and technology demonstrations in low-earth orbit. Team members shown here are building an advanced spacesuit at the company’s Houston headquarters.

The company is constructing a 106,000-sq-ft (9,850 sq-m) facility—about one-fifth of which will be devoted to manufacturing—at Ellington Airport’s Houston Spaceport complex. The new site will serve as Axiom Space’s headquarters and production hub, consolidating the company’s operations at three nearby temporary facilities that are outfitted with a wide range of equipment, including three- and five-axis CNC machines, laser welders, press brakes, and metal additive systems.

Axiom also works closely with Open Mind Technologies USA Inc., licensing two seats of the Needham, Mass.-based company’s hyperMILL software. In addition to traditional CAM capabilities, Axiom Space uses hyperMILL to create digital twins for testing and modeling.

“Our main goal was to enable their machines to get through components and prototypes in a predictable manner because they were under an extreme time frame,” explained Alan Levine, Open Mind USA’s managing director. Open Mind’s ability to meet the tight timing and speed requirements was underscored in March with Axiom’s third DMG Mori CNC machine. The machine was up and running for testing a day after Open Mind completed the post processor, over the weekend no less, according to Levine, who noted that the process can often take weeks or months with other software.

Axiom Space also is helping Open Mind beta test a new product that the software developer aims to launch this year. Dubbed Connected Tool Technology, the program can be used to improve the tool path to better fit a part and reduce setup times, Levine said.

hyperMILL-Virtual-Machining.jpg

hyperMILL’s Virtual Machining optimizes moves while considering the machine tool environment via digital twin model. Confirmed tool paths are released to the machine.

Employee No. 186

Growing up, Julian Daniels never dreamed that he’d be working on a project involving space travel. Although his interstellar prospects didn’t improve much when he started his career as a CNC machinist, his trajectory took a decidedly upward turn in subsequent CNC positions with several aerospace-related companies. Since joining Axiom Space nearly two years ago, he’s been on a rocket ride toward space—at least in the sense that the equipment he’s responsible for is building next-generation spacecraft for low-Earth orbit—1,200 miles (2,000 km) above terra firma—and eventually to the moon and beyond.

As technical lead IV for the company’s machine shop, Daniels is at the heart of the project. He came on board shortly after the NASA contract was awarded as employee No. 186. Since then, the company’s workforce has more than quadrupled and continues to soar. In fact, managing and navigating such rapid growth is one of his biggest challenges, Daniels said.

Starting out as somewhat of a skunkswork operation meant everyone had to be more resourceful and “mindful of how we were building things,” Daniels said. The team has a lot more resources now but the number of moving pieces continues to grow—and the stakes are even greater as planning transitions to production, with multiple teams that have to be precisely aligned and coordinated.

There also are unique demands associated with manufacturing components for operation in space. “Obviously, the safety tolerances are extremely tight, and documentation and traceability are critical with various design reviews,” Daniels said. “Manufacturing works closely with our materials process team, which educates us about how different materials work together in space.”

Daniels also works closely with Open Mind and a Texas-based hyperMILL distributor. “We did a lot of research on different CAM systems before making our selection. In the end, hyperMILL’s unique capabilities stood out,” Daniels said, noting that transitioning from a CAM environment to a digital twin is seamless.

“If I want to change some parameters on a cut, I can quickly jump back and forth between the CAM system and the digital twin.” This can cut time by as much as 50-60%, he said, citing one case in which the size of the component was approaching the limits of a machine’s work envelope. “The digital twin allowed me to get really creative with how I approached manufacturing it because I could manipulate and rotate things around, whereas typically a part that big for that machine, you just wouldn’t be able to make it because the movements of the machine would be too close and crash into each other. It would have required a lot of trial and error.”

Axiom_AxEMU_Full.jpg

The new spacesuit can accommodate a range of crew members.

Lift Off

In addition to building the exterior structures, Axiom Space is making small propulsion thrusters that will be used for short bursts to orient the modules. And the company worked with renowned French industrial designer Philippe Starck on the interior quarters that will house the crew.

It also has designed a new spacesuit that is said to be safer, longer lasting, more comfortable, and allow for a greater range of motion thanks to the use of innovative soft and hard joints. The Axiom Extravehicular Mobility Unit suit includes specialized tools for lunar exploration and various scientific experiments as part of NASA’s Artemis 3 mission that’s scheduled to launch in December 2025, according to the company.

“We carefully considered years of lessons learned by NASA and used that experience to build a spacesuit for the moon and for our future Axiom Space customers,” Suffredini said. “(The) spacesuit will be ready to meet the complex challenges of the lunar south pole and help grow our understanding of the moon in order to enable a long-term presence there.”

Whether it’s the moon, the remaining Ax missions, or the subsequent rendezvous with ISS, the entire Axiom Space team will be watching and supporting the project at every step along the way. “I’d say about 80% of us are space geeks,” Daniels said, counting himself as part of the group. “It’s really exciting, and we’re all very proud of the program and committed to its success.”

For more information about Axiom Space visit www.axiomspace.com or call 346-293-7045. For information about Open Mind visit www.openmind-tech.com or call 888-516-1232.

Content Source:


RELATED CONTENT: 

Fastener Pop Quiz: Fastener Hall of Fame

Fastener Design Course by NASA

Aerospace, Fastener News, Featured, Technology

Read more...
fastener-pop-quiz:-fastener-hall-of-fame

Fastener Pop Quiz: Fastener Hall of Fame

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.


SPONSORED BY:

PRODUCT GENIUS TECHNOLOGY

Have you tried buying fasteners online? Industrial products are comprehensive and purchasing them online can lead to poor customer experiences when utilizing filtered search, buyers are forced to use a multitude of search filters just to find a bolt. Product Genius’s grid technology organizes and displays entire product categories from a one page buying experience. Experience the future of fastener buying online at https://1800fasteners.com/.


RELATED CONTENT:

Fastener Pop Quiz: METRIC FASTENERS

IN THE NEWS with Fastener News Desk the Week of May 8, 2023

Fastener Hall of Fame, Fastener Pop Quiz

Read more...
in-the-news-with-fastener-news-desk-the-week-of-may-8,-2023

IN THE NEWS with Fastener News Desk the Week of May 8, 2023

Digital Media Advertising and Distribution for the Fastener Industry

Here’s what’s happening in fastener industry news the week of May 8, 2023.

 Watch now on FastenerTV (11:34)


AFC Industries has acquired EAP International Limited, a leading distributor of rubber sealing products, including O-rings, gaskets, and associated technical products, based in Greater Manchester, UK. Terms of the deal were not disclosed.

AFC Industries Acquires EAP International Limited


Fastenal Company industrial fasteners, construction and safety supply distributor reported April 2023 sales of $586 million, up 2.7% year-over-year, with daily sales up 7.8%. Daily sales of fasteners were flat growing at 1.2% year-over-year compared to 25.5% in 2022. Daily sales of safety products grew 10.1% & all other products grew 12.1% year-over-year. Read full release: 


‘INTHE NEWS’ Sponsor:

Next generation advanced planning and scheduling is here! Optessa’s AI-driven optimization ushers in a new way for manufacturers to generate optimal plans and schedules in a fraction of the time.

  • Respond to disruptions
  • Meet delivery dates
  • Reduce excessive parts inventory
  • Eliminate costly idle time
  • Stabilize your supply chain

Request a live demo of Optessa’s NextGen APS platform today!

Visit https://www.optessa.com/ for more information! 


The Würth Group reports for fiscal year 2022. With double-digit sales growth, is once again on a record course. ⬆ Sales volume increases to 19.9 billion EUROS corresponding to a 16.8% increase year-over-year. Robert Friedmann, Chairman of the Central Management Board of the Würth Group said “In the past two years, we generated sales growth of more than EUR 5.5 billion. This is a remarkable achievement in our more than 75 years of corporate history, considering the multitude of imponderables that have challenged us since the start of the COVID-19 pandemic in 2020 and with the war in Ukraine. In times like these, our customers especially appreciate that they can rely on our delivery capability and service leadership,”


ZAGO Manufacturing –U.S.-based manufacturer of sustainable sealing fasteners and components, has been recognized by NIST (National Institute of Standards and Technology) and MEP (Manufacturing Extension Partnership) as one of its Heroes of American Manufacturing. ZAGO Manufacturing Co. is one of three manufacturers in the U.S. to be recognized. Visit https://zago.com/ today!

NIST MEP Recognizes ZAGO Manufacturing as Hero of American Manufacturing


Economic activity in the manufacturing sector contracted in April for the sixth consecutive month following a 28-month period of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. “The April Manufacturing PMI® registered 47.1 percent, a0.8 percentage point higher than the 46.3 percent recorded in March. Regarding the overall economy, this figure indicates a fifth month of contraction after a 30-month period of expansion. The New Orders Index remained in contraction territory at 45.7 percent, 1.4 percentage points higher than the figure of 44.3 percent recorded in March. The U.S. manufacturing sector contracted again; however, the Manufacturing PMI® improved compared to the previous month, indicating slower contraction. 

Manufacturing PMI® at 47.1%; April 2023 Manufacturing ISM® Report On Business®


Coming up this week The NFDA + Young Fastener Professional Associations will be hosting a Virtual Roundtable:  The Triple Bottom Line: People, Planet, and Profit. The virtual roundtable will take place on Thursday, May 11th at 2:00 PM Eastern. Rethink the way you measure success with a discussion on the triple-bottom-line sustainability framework: what it is, why it is important, and how you can implement it. It’s free to attend, but registration is required. Go to


Fastener Fair USA is just 1 week away, taking place May 16-17, 2023 at Music City Center in Nashville!.. This year’s event promises to be bigger and better than ever, with new exhibitors, industry-leading products, and a range of educational and networking opportunities. The event features the pre-show conference provided by the Fastener Training Institute: Fastening 101 May 15 and the Fastener Fair USA Golf Tournament sponsored by MWFA and NCFA (May 15 at 1:00pm). The opening night networking party is at the Country Music Hall of Fame May 16 at 5:30 PM. Register for Fastener Fair USA today and get ready to grow business! Use discount code FND for a FREE exhibit hall pass. The FREE offer expires Friday, May 12th. Register Now:

Fastener Fair USA: The Must-Attend Event for the Fastener Industry


Course DetailsWhether 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.

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.


Image

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


Sleep in Heavenly Peace – AZ Community Impact

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!


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.


RELATED CONTENT:

IN THE NEWS with Fastener News Desk the Week of April 24, 2023

IN THE NEWS with Fastener News Desk the Week of April 17, 2023

Distribution, Fastener Acquisitions, Fastener News, Fastener News Desk, Fastener News Podcast, Fastener TV

Read more...
the-shifting-tides-of-global-trade

The Shifting Tides of Global Trade

Saint Louis Fed Eagle

Annual Report 2022 | Federal Reserve Bank of St. Louis

The Shifting Tides of Global Trade

Introduction

For several decades, trade among nations increased rapidly, spurred by, among other things, multilateral trade liberalization under the auspices of the General Agreement on Tariffs and Trade (GATT), which went into effect in 1948, and then the World Trade Organization (WTO), which replaced GATT in 1995.

The figure below shows the marked expansion in both U.S. and global trade (exports plus imports) as a percentage of gross domestic product (GDP), which is a standard measure of openness to trade. The world trade-to-GDP ratio climbed from about 25% in 1970 to a peak of about 61% in 2008. Similarly, the U.S. trade-to-GDP ratio rose from about 11% in 1970 to a peak of about 31% in 2011.

President’s Message: Trade and Globalization since the 1980s. Read message

President James Bullard

James Bullard is the president and CEO of the Federal Reserve Bank of St. Louis.

U.S. and Global Trade (Exports Plus Imports) in Goods and Services as Share of GDP

A line chart shows trade (exports plus imports) as a percentage of gross domestic product ratios for the world and the U.S. from 1970 to 2021. The world's ratio peaked at about 61% in 2008, while the ratio for the U.S. peaked at about 31% in 2011.

SOURCE: The World Bank.

The fact that both peaks occurred more than a decade ago suggests a general pattern of slowing trade, at least in proportion to the sizes of the respective economies. But why?

Specialization along the lines of comparative advantage, the business efficiencies gained from scaling up to meet global demand, and the consumer benefits from having access to specific varieties of goods produced by different nations all point to benefits from a greater integration of world markets. Yet, we see a reduction in trade measured as a percentage of GDP for both the U.S. and the world economy.

In this essay, economists from the Federal Reserve Bank of St. Louis explore different aspects of trade to help explain the headwinds that may be slowing the process of globalization, including:

  • How are trade blocs and geopolitical tensions affecting trade?
  • How has the U.S.-China trade relationship changed over time?
  • What are critical goods, and how are they susceptible to international trade shocks?
  • What are the risks to global value chains, and how are governments protecting them?

Challenges to Trade from Trade Blocs, Geopolitical Tensions

By Subhayu Bandyopadhyay

Two issues that are central to current U.S. trade relations are trade blocs, such as the U.S.-Mexico-Canada Agreement (USMCA), and the trade effects of geopolitical tensions, such as the ongoing Russia-Ukraine war.

The Impact of Trade Blocs

Trade economists generally agree about the benefits of global free trade, such as lower production costs made possible through international specialization along the lines of comparative advantage. However, the role that trade blocs, such as the one formed by the USMCA, play is less clear. USMCA is a free trade agreement in which those nations conduct free trade within the bloc but unilaterally decide their respective tariffs vis-à-vis nations outside the bloc.

One of the reasons that such blocs exist is the greater feasibility they afford in terms of reaching agreements among a relatively small number of nations. However, there are two major obstacles to such agreements:

  • First, while such blocs may create new trade among member nations (a positive), they may divert sourcing of imports from more efficient nonmembers to less efficient member nations (a negative). Even if the net effect appears positive, an agreement may not materialize because of several other factors, including political opposition or disagreements among members on nontrade issues like harmonization of labor working conditions across member nations.
  • Second, of prime concern is the income distribution effects of such agreements. Workers in industries whose exports increase with an agreement will likely support it, but workers in industries seeing greater import competition will likely oppose it. Such income distribution concerns, which are almost always associated with trade liberalization within blocs, can lead to political opposition to their enactment.

Indeed, U.S. trade in goods with Canada and Mexico grew rapidly around the time that the North American Free Trade Agreement (NAFTA) went into effect in 1994, creating a free trade zone for Mexico, Canada and the U.S. (See the figure below.)1 However, potential wage and job loss concerns, among other factors, influenced the U.S. decision in January 2017 to back out of the Trans-Pacific Partnership. Similar concerns led to renegotiation of NAFTA, which was replaced in 2020 by USMCA.

U.S. Trade in Goods with NAFTA Partners as Share of GDP

A line chart shows U.S. imports from Canada and Mexico, as well as U.S. exports to Canada and Mexico, from 1975 to 2021, with significant expansion occurring around the time that the North American Free Trade Agreement went to effect in 1994.

SOURCE: Haver Analytics. NOTE: The gray shaded areas indicate U.S. recessions. Since the figure shows annual data, a given year is shaded if a recession occurred during at least two months of that year, including the short recession in 2020.

READ FULL REPORT:

Content Source:


RELATED CONTENT:

Reshoring and FDI Up 53%, Setting New Record

Würth Group Releases 2020-2022 Sustainability Report

Reports, Reshoring

Read more...
wurth-group-releases-2020-2022-sustainability-report

Würth Group Releases 2020-2022 Sustainability Report

“The solution is to provide a solid foundation for our system of values and our culture that is fair for future generations”

Bettina Würth, Chairwoman of the Advisory Board of the Würth Group


It was possible to create and foster these connections in the blink of an eye that constituted the last several decades driven by a linear economy: mining, sourcing, production, distribution, disposal. However, a long-term perspective requires something that we at Würth understand as a matter of principle: a circular connection!

Three transformation areas on our path to a circular economy

  • Strong connections can only survive in a hospitable environment.
  • Strong connections require materials and resources.
  • Strong connections form between people when they treat each other fairly.

For us, the three transformation areas on our path to a circular economy are clear: Climatematerial 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.

The Circular Way

Wuerth_The-Circular-Way_2022_web_EN

Read more...
afc-industries-acquires-fastbolt

AFC Industries Acquires Fastbolt

May 8, 2023

AFC Industries has acquired South Hackensack New Jersey based Fastbolt. Terms of the deal were not disclosed.

Founded in 1974 by Albert Zaukas, the company has continued to evolve and is now a quality-driven global supply chain management company meeting the needs of an increasingly sophisticated and diversified customer base. Fastbolt owner and CEO Glenn Zaukas said, “We have worked hard through the years to build on our

father’s legacy of taking excellent care of our customers through real partnerships with our employees. It was important to our family that we found a partner that would respect that and build on it. We are excited that Fastbolt will continue to be in the hands of owners who are committed to growing the business the ‘right’ way.”

AFC CEO Kevin Godin explained, “We have wanted Fastbolt as part of the AFC family for several years. They were one of the first businesses we reached out to when we launched our acquisition strategy. We are glad that when the time was right for the family to sell the business, they chose us. Our responsibility to be good stewards of these businesses is important to us and we are confident that together, the future is bright. Bringing these two businesses together makes both stronger in several ways and we look forward to working together to continue to build a legacy of excellence.”

About AFC Industries

Headquartered in Fairfield OH, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions on small components and tooling for a diverse base of manufacturers and assemblers across a broad range of industries. Through its experienced team and global resources, AFC excels at making customer manufacturing and assembly processes more efficient and cost-effective. www.afcind.com

In April 2021 AFC Industries was acquired by private investment  company Bertram Capital, based in Foster City CA. www.bertramcapital.com

For additional questions please contact sales@afcind.com


RELATED CONTENT:

AFC Industries Acquires EAP International Limited

AFC Industries Acquires QFC Industries

Acquisitions, Fastener Acquisitions, Fastener News, Fastener Press Releases, Fasteners, Press Releases

Read more...