The Fastener Training Institute (FTI), the leading nonprofit provider of fastener product and technical training, is excited to announce Würth Industry North America (WINA) will continue as sustaining sponsor in 2023. This will mark the fifth year of partnership between the two organizations.
“Würth’s continued support is instrumental to our ability to offer frequent and robust educational opportunities which enhance knowledge, safety and reliability across the fastener industry,” said John Wachman, Managing Director for FTI. Thanks to Würth’s support, FTI will continue to offer an extensive menu of in-person fastener training classes taught by leading industry expert instructors, as well as live webinars and an on-demand Online Learning Library (OLL).
“Our partnership demonstrates our ongoing commitment to the importance of quality fastener education. We are thrilled to move into our fifth year of partnering with the Fastener Training Institute and helping to support the education of seasoned and new professionals within the fastener industry,” said Tracy Lauder, Director of Marketing and Communications for Würth Industry North America.
FTI’s in-person classes allow attendees hands-on training, networking opportunities and the ability to take part in learning labs and plant tours while witnessing all stages of the manufacturing process. Live webinars offer an easy and fast way to advance learning while providing topics for further educational discussion within organizations. FTI’s OLL has more than 40 on-demand digital training courses for fastener and manufacturing industry professionals. Corporate subscriptions are popular with large companies desiring to offer continuous educational opportunities to employees. For more information about the Fastener Training Institute, visit www.fastenertraining.org.
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.
About Wurth Industry North America
Würth Industry North America (WINA) is a $1+ billion division of the Würth Group, the world’s largest industrial distributor. Within the Würth Group, founded in 1945, WINA is a privately held, family-owned business that believes collaboration and partnerships make business better. The company has strategically aligned, customer-centric market divisions, including Industrial, MRO, Safety, & Metalworking, Construction, and Specialty, that deliver better planning, parts management, and inventory accuracy. With more than 420,000 parts in their international supply chain, WINA provides each customer with an extensive global reach and a local feel from deep investment in its network of distribution centers across the United States, Canada, and Mexico.
CLEVELAND (JANUARY 23, 2023) – The Fastener Training Institute will host its next Fastener Training Week April 3-7 at the Industrial Fasteners Institute (IFI) near Cleveland, OH. This advanced technical training program is offered in partnership with IFI and is for fastener distributors, manufacturers and end-users.
Fastener Training Week offers five intensive days of education and plant tours as part of the FTI Certified Fastener Specialist™ (CFS) advanced technical training program. After completing this industry training in a small group environment and passing a final exam, attendees are eligible for the Certified Fastener Specialist™ (CFS) designation.
“FTI’s Fastener Training Week (FTW) offers fastener professionals a compact yet thorough opportunity to gain knowledge, skills and the eligibility for CFS designation while learning from expert industry leaders,” shared Jo Morris, Marketing Director for Fastener Training Institute.
Fastener Training Week in Clevelandwill cover timely topics such as manufacturing processes, consensus standards and quality control and be taught by leading industry experts Salim Brahimi, IFI Director of Engineering Technology, and Laurence Claus, IFI Director of Education and Training. Participants will also tour manufacturing, secondary processes and testing facilities.
This advanced technical program is a fit for professionals active in fastener sales, purchasing, manufacturing or quality assurance. Registration includes five days of training, educational materials, continental breakfast and lunch, transportation for plant tours, certification of completion and eligibility for the CFS designation.
Class registration and more information is available at fastenertraining.org, with early-bird fees available until March 20. In addition, a $500 discount is available for Pac-West, NFDA, IFI, MWFA, NCFA, SFA and AIM Prime members. Grants to attend the training are being offered by the Industrial Fasteners Institute.
Support from Würth Industry North America, FTI’s 2023 Sustaining Sponsor and Optimas, FTI’s 2023 Educational Program Sponsor, will help ensure a successful Fastener Training Week in Cleveland.
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.
Here’s what’s happening in and around the fastener industry in fastener news the week of January 30, 2023
Watch Now on FastenerTV (9:27)
Fastenal is in the news with three recent press releases:
Fastenal reported their 2022 Annual and Fourth Quarter Earnings. Their eCommerce: Daily sales rose 48.2% in 4Q22. Large customer-oriented electronic data interface (EDI) was up 45.0%, while web sales were up 58.8%. Sales through their Digital Footprint (FMI technology plus non-FMI-related eCommerce) was 52.6% of sales in 4Q22, versus 46.4% in 4Q21. They anticipate that they will hit 65% of their sales running through their Digital Footprint in 2023. Fasteners comprised 33% of Fastenal’s 4Q sales and saw year-over-year growth of 9.1%.
Fastenal Has Surpassed $1 Billion in Sales Outside the United States. Fastenal’s international business has grown to include sales, service, and support teams in 25 countries spanning the Americas, Europe, and Asia. In 2022.
The $1 billion international sales milestone caps a decade of consistently strong growth. From 2012 to 2022, Fastenal’s international revenues more than tripled. During this same time period, the number of international employees grew from approximately 1,800 to approximately 4,500, creating opportunities for new team members and emerging leaders around the world.
Fastenal has released their Inaugural Environmental, Social, and Governance (ESG) Report. The report, which recaps Fastenal’s progress in various environmental, social, and governance aspects during 2021, marks a significant step forward in the company’s ESG journey. Fastenal is planning to publish annual ESG reports moving forward.
The report 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).
MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, announced that they have acquired Buckeye Industrial Supply Co., an independent metalworking distributor based in Columbus, Ohio, and Tru-Edge Grinding Inc., a St. Henry, Ohio-based custom tool manufacturer.
Buckeye and Tru-Edge are separate companies with shared ownership. Under the purchase agreement, Buckeye and Tru-Edge will continue to operate under their current names as MSC companies. The two companies had combined estimated revenue of $28 million in 2022 and they have 80 associates.
International Fasteners, Inc. promoted Tony Strein from Regional Manager to the newly appointed position of National Accounts Manager. Tony has been instrumental in helping the International Fasteners grow for years and will work closely with the regional teams to help ensure the continued growth and focus on National Accounts. Built on quality, trust, and professionalism, IF has six stocking locations throughout the United States, carries one of the most comprehensive selections of construction fasteners, and sells exclusively through the distribution channel. For more information go to daggerz.com
Listen Up Thread Heads and Fastener Nerds the NEW episode of Fully Threaded is LIVE! Listen in to Resolutions with hosts Eric Dudas and Brian Musker. They are joined by Premium locknut supplier J Lanfranco sees big opportunities appearing, as the cosmopolitan Jason Baines leads their North American push. Likewise, hard charger Matt Boyd is helping to guide Parker Fasteners forge ahead toward their vision of continued expansion and growth. In contrast, the FDI took a dramatic hit to close the year just ended, and this time forward looking sentiment sagged as well. Tune in at FullyThreaded.com
State of the Industry Panel Discussion
Mid-West Fastener Association will be hosting a State of the Industry Panel Discussion on February 21st in Oak Brook, IL. Attendees will learn the challenges of 2023, updates from Chris Donell/Scanwell Logistics and Christian Richter, from the Policy Group in Washington D.C. For more info go to MWFA.net
The Fastener Training Institute’s second in a two-part webinar series: METRIC FASTENERS Is happening on Thursday, February 2nd | Time: 11:00 – 12:30 PT Register: FastenerTraining.org
In person training: Basics of Aerospace Fasteners & Standards 101 Aero Version is co-produced by The Fastener Training Institute and the Industrial Fastener Institute and will take place on February 13-14th in Santa Ana, CA. Register: FastenerTraining.org
Fastener Training Week in Cleveland, OH will take place April 3-7th. The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week — This robust program includes five 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.
To register and learn more about any of the fastener training events we highlighted go to FastenerTraining.org
The stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our Twitter feed @FastenerNewsand on LinkedIn in the Fastener News Group!
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 1-800-Fasteners.com.
PGT’s services also include, data cleaning and preparation, consulting, and strategizing. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.
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.
Thanks for tuning in to this week’s episode of IN THE NEWS with Fastener News Desk.
Until next week, be well, be safe and Keep it Fastenating!
Rockford, IL (1/27/2023) – Field announced today that it has merged with Mid-State Bolt & Nut Company, a full-line fastener distributor headquartered in Columbus, OH. Terms of the deal were not disclosed. Mid-State Bolt & Nut Company, who was founded in 1946, brings value to the OEM marketplace through creative and efficient supply chain solutions for fasteners and other direct materials.
This strategic partnership will enhance their combined position in North America by expanding the products, services, and geographical footprint in which they service customers. Both companies become stronger by being together, and more equipped to support current and prospective customers while providing technical services to drive short and long term cost savings.
“We’ve known Field and the Derry family for many years, and based on their culture, growth and future vision, we know that our team, customers and suppliers are in good hands by merging with Field”, says Dave Broehm, President of Mid-State Bolt & Nut. Dave will be stepping down as President, but will be staying on in a consultant role to assist with the transition. Dave’s two sons currently in the family business, Michael and Andrew, will be staying on with the company.
“What most impressed me was the quality of the people at Mid-State and their commitment to do whatever it takes to support the customer and one another. You can’t teach this and it very much aligns with the culture of Field. We couldn’t be more excited to welcome the Mid-State team and customer base into the Field family”, says Adam Derry, President of Field.
“We are excited to combine the capabilities of the experienced team at Mid-State with the Field team. The reputation and quality of the entire organization at Mid-State will continue to enhance the culture of Field” Chris Pauli, executive Vice-President of Field.
About Mid-State Bolt & Nut
Mid-State is a comprehensive supplier of hardware and Class C components. They have developed a core competency in designing and providing commodity management programs. To learn more about Mid-State Bolt & Nut Company, please call 614-253-8631 or visit them online at http://www.msbolt.com/
About Field
Field is a family-owned global supplier of fasteners, “C” commodities, inventory management services and technical support. For the past 33 years, Field has grown 18% on average per year because of its dedication to lowering our customers overall cost and improving quality through a technical approach to fasteners and fastenings. Their mission statement is to have “everyone who interacts with us, LOVE us!”. Field has built its reputation on meeting customers’ quality, cost reduction, and inventory targets by utilizing superior systems, team members, and suppliers. At Field, Culture is everything. Field was recognized by INC. magazine as one of the fastest growing privately owned companies in the USA. Field has been recognized nationally by Great Places to Work as one of the Best Small Companies in America, ranking #8 nationally among small companies and #5 nationally among manufacturing/production companies. To learn more about Field, please call 815-637-9002 or visit them online at: www.fieldfastener.com
Read about acquisitions by Field Fastener. Click here.
Tony has been instrumental in helping the company grow for years and will work closely with the regional teams to help ensure the continued growth and focus on National Accounts.
Built on quality, trust, and professionalism, IF has six stocking locations throughout the United States, carries one of the most comprehensive selections of construction fasteners, and sells exclusively through the distribution channel.
For more information, please visit their website: daggerz.com
See news featured in this week’s episode of IN THE NEWS with Fastener News Desk. Click here.
WINONA, Minn.–(BUSINESS WIRE)– Fastenal Company (Nasdaq: FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter and year ended December 31, 2022. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. Throughout this document, percentage and dollar calculations, which are based on non-rounded dollar values, may not be able to be recalculated using the dollar values included in this document due to the rounding of those dollar values. References to daily sales rate (DSR) change may reflect either growth (positive) or contraction (negative) for the applicable period.
Quarterly Results of Operations
Net sales increased $163.8, or 10.7%, in the fourth quarter of 2022 when compared to the fourth quarter of 2021. The number of business days were the same in both periods. We experienced higher unit sales in the fourth quarter of 2022 that contributed to the increase in net sales in the period. This was due to further growth in underlying demand in markets tied to industrial capital goods and commodities, which more than offset softer markets tied to consumer goods and relatively lower growth in construction. Foreign exchange negatively affected sales in the fourth quarter of 2022 by approximately 90 basis points. The overall impact of product pricing on net sales in the fourth quarter of 2022 was 350 to 380 basis points compared to the fourth quarter of 2021. The increase is from actions taken over the past twelve months intended to mitigate the impact of marketplace inflation for our products, particularly fasteners, and transportation services. We did not take any broad pricing actions in the fourth quarter of 2022, and price levels in the market remained stable. The favorable impact of product pricing moderated in the fourth quarter of 2022 relative to the third quarter of 2022 due to comparisons against initial price events that began in the third quarter of 2021. Spot prices in the marketplace for many inputs, particularly fuel, transportation services, and steel, have moderated over the last six months. Due to our long supply chain for imported fasteners and certain non-fastener products, however, it is likely to take several quarters before this is reflected in our cost of goods. The impact of product pricing on net sales in the fourth quarter of 2021 was 440 to 470 basis points. From a product standpoint, we have three categories: fasteners, safety supplies, and other product lines, the latter of which includes eight smaller product categories, such as tools, janitorial supplies, and cutting tools.
Fasteners comprised 33% of Fastenal’s 4Q sales and saw year-over-year growth of 9.1%.
WINONA, Minn.–(BUSINESS WIRE)– In late September 1994, Fastenal opened a sales branch in Stoney Creek, Ontario, Canada. It had just two employees and around $1,800 in first-month sales, but it was exceptional in one important regard: It was the company’s first branch outside the United States. From this humble beginning, Fastenal’s international (non-United States) business has grown to include sales, service, and support teams in 25 countries spanning the Americas, Europe, and Asia. In 2022, these teams achieved an impressive milestone (one that would have been difficult to imagine back in 1994): $1 billion in annual sales.
“This was not a small accomplishment, and it took hard work and commitment from everyone involved to reach it,” said Jeff Watts, Fastenal’s EVP of international sales (and one of the company’s first employees in Canada). “It shows what can be accomplished when we work together as One Team with a common goal, and it’s humbling to be a part of.”
Fastenal’s early waves of international expansion mirrored the globalization of its United States customer base. As multinational customers opened facilities around the world, they asked Fastenal to invest in local resources to support them in those markets. But it wasn’t just a matter of ‘exporting’ its U.S. customer base and business model. Fastenal’s international teams learned, evolved, and grew. They solidified customer relationships, earned new opportunities, and innovated new ways of doing business that made sense for their local markets.
The $1 billion international sales milestone caps a decade of consistently strong growth. From 2012 to 2022, Fastenal’s international revenues more than tripled. During this same time period, the number of international employees grew from approximately 1,800 to approximately 4,500, creating opportunities for new team members and emerging leaders around the world.
“As we continue to invest in international teams and structures, we’re expanding our ability to support local, regional, and global organizations with in-market resources and proven value-creation programs,” said Dan Florness, President and CEO of Fastenal. “Congratulations to our international teams for achieving the $1 billion revenue milestone, and thank you for helping to make Fastenal a world-class supply chain partner.”
About Fastenal
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 approximately 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.
Purchase of Ohio-based Companies Supports the Growth of MSC’s Metalworking Leadership Position
MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), a premier distributor of Metalworking and Maintenance, Repair and Operations supplies to industrial customers throughout North America, today announced that it has acquired Buckeye Industrial Supply Co., an independent metalworking distributor based in Columbus, Ohio, and Tru-Edge Grinding Inc., a St. Henry, Ohio-based custom tool manufacturer.
Buckeye and Tru-Edge are separate companies with shared ownership. Under the purchase agreement, Buckeye and Tru-Edge will continue to operate under their current names as MSC companies. The two companies had combined estimated revenue of $28 million in 2022 and they have 80 associates.
Founded in 1947, Buckeye primarily serves the planned metalworking needs of large manufacturers. MSC plans to build on Buckeye’s technical, high-touch relationships and value-added services by offering customers access to its 2 million-plus product portfolio to support their full metalworking and MRO needs as well as drive eCommerce revenue through mscdirect.com.
Tru-Edge Grinding brings new capabilities in tool manufacturing to MSC. Founded in 1996, Tru-Edge operates a manufacturing/regrind facility in St. Henry, Ohio and an indexable tool repair shop in Dayton, Ohio. A large part of Tru-Edge’s business is focused on designing and producing tools from scratch, with a strong focus on the automotive and medical markets. Tru-Edge will serve as MSC’s center of excellence for engineering and design and will join forces with MSC’s existing regrinding business to support manufacturing customers in the Midwest. Tru-Edge’s highly technical, value-added services will support MSC’s effort to drive cost savings for customers.
MSC President and Chief Executive Officer Erik Gershwind said the addition of Buckeye and Tru-Edge builds on MSC’s acquisitions of Deco Tool Supply, Engman-Taylor Company, Wm. F. Hurst Co. and AIS in recent years to expand the company’s reach with manufacturers in the Midwest.
“We are excited to add Buckeye and Tru-Edge to our growing portfolio of businesses as they’ll contribute greatly to fortify and expand our position as the leading metalworking supply distributor in North America. Their focus on providing high-touch support to customers aligns well with our commitment to helping customers solve their mission-critical challenges and improve the productivity of their operations,” Gershwind said.
Rick Meizlish, a principle of Buckeye and Tru-Edge, said, “MSC is a recognized and respected leader in the industrial supply distribution industry. We are looking forward to combining our metalworking expertise with MSC’s to bring even greater value and success to manufacturing customers.”
About MSC Industrial Supply Co.
MSC Industrial Supply Co. (NYSE:MSM) is a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services. We help our customers drive greater productivity, profitability and growth with approximately 2.2 million products, inventory management and other supply chain solutions, and deep expertise from more than 80 years of working with customers across industries. Our experienced team of approximately 7,000 associates works with our customers to help drive results for their businesses – from keeping operations running efficiently today to continuously rethinking, retooling, and optimizing for a more productive tomorrow. For more information on MSC Industrial, please visit mscdirect.com.
DENVER–(BUSINESS WIRE)–From new consumer buying patterns to dramatically higher costs for fuel and labor, truckload freight professionals faced fresh challenges in 2022 that have led to a more measured, data-driven approach to 2023, according to a new annual report published by DAT Freight & Analytics.
“Analytics from trusted sources can go a long way toward providing transparency in negotiations, achieving savings and maintaining good relationships among transportation partners.”
DAT’s 2023 Freight Focus report outlines the issues that will drive transportation strategies and decisions in the year ahead.
“COVID-19 didn’t introduce new problems in transportation. Instead, it shined a bright spotlight on existing ones. Now is the time to fortify supply chains and build a more dynamic and proactive way of navigating this volatile marketplace,” said DAT President and CEO Claude Pumilia.
As economic conditions evolve and patterns emerge from DAT’s $137 billion in annual truckload freight transaction data, here are the key themes for 2023:
Supply chain networks are more balanced as shipping patterns stabilize and adjust to higher transportation costs. With shippers prioritizing the “in full” part of the On Time-In Full (OTIF) equation, fewer truckloads are needed to move even the same amount of consumer spending as during the height of the pandemic.
With thinner margins in 2023, carriers need to maximize utilization. That means reducing empty miles, emphasizing fuel economy, and coordinating with shippers and brokers to reduce dwell times.
The next freight cycle is around the corner. Spot truckload rates and volumes declined throughout 2022 while the gap between national average spot and contract van rates steadily increased until December when the spread began to close. DAT iQ forecasting models point to spot rates hitting bottom in Q1 2023, with the entire truckload market entering into the next cycle of increased demand in Q2.
Supply chain data providers that entered the market within the last several years now have a track record. Shippers, brokers and carriers can more easily distinguish data services that deliver reliable pricing benchmarks and forecasts; are an independent source of data; understand the dynamics of trucking and logistics; and are in the market for the long haul.
“Above all, finding a balance between cost control and flexibility will remain a focal point for businesses in 2023,” Pumilia said. “Analytics from trusted sources can go a long way toward providing transparency in negotiations, achieving savings and maintaining good relationships among transportation partners.”
DAT’s 2023 Freight Focus report also outlines regulatory issues, top freight markets and keys to success for transportation decision-makers in 2023. It is free and available to download at https://cloud.comms.dat.com/carrier-freight-focus-2023
About DAT Freight & Analytics
DAT Freight & Analytics operates the largest truckload freight marketplace in North America. Transportation brokers, motor carriers, news organizations and industry analysts rely on DAT for market trends and data insights based on 500 million freight matches and a database of $137 billion in annual market transactions.
Founded in 1978, DAT is a wholly owned subsidiary of Roper Technologies (NYSE:ROP), a diversified technology company and constituent of the S&P 500 and Fortune 500 indices.
Here’s what’s happening in and around the fastener industry the Week of January 16, 2023
Watch Now on FastenerTV (8:22)
BREAKING NEWS:
AFC Industries has acquired Motor City Industrial. Terms of the deal were not disclosed. For over 50 years, Motor City and its subsidiaries, Quality Fastener, Smith Fastener, and Emco Industrial have helped improve the efficiency and supply chain management of U.S. manufacturers. With a broad line of value-added products, processes, and technology, Motor City has been on the forefront of fastener and small component management and distribution services throughout the United States.
The seasonally adjusted Fastener Distributor Index (FDI) capped off the year with a startling sub-50 reading, coming in at 43.8 in December. This was a significant deceleration from last month’s 54.9 reading and indicates market conditions worsened vs. November. Commentary pointed to slowing around the holidays and domestic trucking issues constraining product supply as the primary culprits. Looking ahead, the Forward-Looking Indicator (FLI) registered another sub-50 index value at 45.0 but improved modestly vs. last month. Overall, the FDI/FLI suggest continued slowing in fastener distribution market conditions.
The Mid-West Fastener Association and BTM Manufacturing announced that Jake Davis, BTM Manufacturing President, will begin serving as the Mid-West Fastener Association’s Board President effective January 2023. The Mid-West Fastener Association is one of the oldest fastener associations in the United States, beginning in 1946. For the past seven decades, the association has expanded and evolved to include members across the country.
Würth Group closes 2022 fiscal year with 19.95 billion Euros in sales. The Würth Group, the global market leader in the development, production and sale of assembly and fastening materials, once again proved its competitive strength and stability in the 2022 fiscal year: The globally operating Group based in Germany achieved new record results.
Bossard Group Reports New records in a challenging environment, Sales financial year and fourth quarter 2022. The Bossard Group achieved new records in all three market regions. Sales in the financial year 2022 amounted to over 1 billion Swiss francs vs just under 1 billion in 2021. Read more:
Bulten has streamlined their global distribution chain, aiming to bring about more efficient logistics in order to reduce lead times, and streamline processes, while also reducing costs and environmental impact. The streamlining will involve the closure of Bulten’s logistics center in Gothenburg, one of the company’s two such centers in Sweden. “Streamlining the distribution chain will allow better transportation flows and thereby also reduce environmental impact. The President and CEO of Bulten added that the streamlining will reduce costs and capital tied up. Read more:
LISI Aerospace welcomed Scott Wood as the Chief Operating Officer role for LISI Aerospace – North America. Scott brings over 20 years of experience in multi-site operations, general management, and product management in Aerospace & Defense in both public and private equity-sponsored companies. He has a proven track record of creating operational excellence while driving significant growth, profitability, and new product development. Scott will be responsible for coordinating activities among the North American Fastener plants.
A B2B marketplace bolts together a digital payments foundation. Bay Supply is building a digital payments base and adding more types of electronic payments, finance options and related tools. Bay Supply is looking to add electronic data interchange in the next few months. “We are adding this under their Bay Connect launch in Q1. Bay Supply is the first online marketplace for the fastening industry, where sourcing professionals, manufacturers and distributors can effortlessly collaborate, quote, and transact business.
FASTENER MUSEUM launches first exhibit:
Setko Fasteners has been part of the fastener industry for 87 years. Over the generations, Setko has continued to fasten the world together by providing quality socket products.
This past Christmas season Setko reissued a family favorite board game “3 SQUARE PUZZLER” AS FIRST IN EXCLUSIVE PUZZLES SERIES, that was first introduced to the industry over 70 years ago. Check out their display featured at Fastener News Desk.
The Mid-West Fastener Association will be hosting a State of the Industry Panel Discussion on February 23rd. Registration will be available soon! For more info go to MWFA.net
The Fastener Training Institute has a two-part webinar series: METRIC FASTENERS
Dates: Thursday, January 19th and Thursday, February 2nd | Time: 11:00 – 12:30 P
Get details and register at FastenerTraining.org
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!
Have you tried buying fasteners online?
Industrial products are comprehensive and purchasing them online can lead to a poor customer experience when utilizing filtered search. The Product Genius’s grid technology allows your clients to search, sort and purchase 100’s of products from a one-page buying experience.
PGT’s services also include, data cleaning and preparation, consulting, and strategizing. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.
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.
Thanks for tuning in to this week’s episode of IN THE NEWS with Fastener News Desk.
Until next week, be well, be safe and Keep it Fastenating
