Author - fluentdesigns

Here’s what’s happening in and around the fastener industry the Week of November 14th, 2022

Listen now: (6:51)

Fastener Training Week LA begins today, Monday, Nov. 14-18, 2022. Fastener Training Week offers 5 intensive days of education and virtual plant tours as part of the acclaimed FTI Certified Fastener SpecialistTM (CFS) advanced technical training program. Fastener Training Week is sponsored by Optimas. Go to FastenerTraining.org to find out about the next Fastener Training Opportunities.

The October seasonally adjusted Fastener Distributor Index (FDI) declined further vs. the previous month, coming in at 44.3. This represents another contractionary reading, indicating market conditions continued to deteriorate. This was consistent with the sub-50 reading in last month’s Forward-Looking Indicator (FLI). Looking ahead, the FLI once again registered a sub-50 index value, reading 42.4, suggesting further declines in the FDI could be likely. Overall, similar to the overall macro backdrop, and the industrial economy specifically, fastener market demand conditions continue to soften. Read full report: 

Fastenal celebrated another major milestone in October, the company reached $1 billion in eCommerce revenue within a calendar year. Fastenal’s eCommerce platform officially launched more than 20 years ago, but historically it represented a relatively small share of the overall business. This began to change about five years ago with a strategy positioning eCommerce as a critical component of the company’s high-tech, high-touch service model. Five years ago, in 2017, the company’s eCommerce sales were $245 million, representing 5.5% of total company sales. After hitting the $1 billion milestone in October, Fastenal’s eCommerce sales represent 17.4% of total company year-to-date sales (and 19.9% of its October 2022 sales). Read more: 

Lots of activity In Fastener Acquisition News…

AFC Industries has acquired Erie, PA based Champion Bolt (www.championboltinc.com) Terms of the deal were not disclosed. Champion, established in 1986, specializes in custom-solutions and services for OEM assembly environments. In April 2021 AFC Industries was acquired by Bertram Capital, based in Foster City CA.

Colony Hardware, Inc. (“Colony” or the “Company”), a leading direct-to-jobsite distributor of construction materials and jobsite supplies has announced the acquisition of B&L Bolt, Inc. and Slip-On Lock Nut, LLC (“B&L”), a Michigan-based value-added distributor of strut, fasteners, power tools, and other supplies to construction and industrial customers. The acquisition represents Colony’s 11th acquisition since partnering with Audax Private Equity in November of 2018. Read more:

The Bostwick-Braun Company, today announced the acquisition of Mill Supplies, Inc. by the company’s Industrial Business Division. MSI is a contractor and industrial supply company that has supported the OEM, construction, and metalworking industries in Indiana and Ohio for over 60 years. The Bostwick-Braun Company is a wholesale distributor of hardware and industrial supplies and one of the Midwest’s largest and oldest. Their Industrial Business Division’s roster includes Columbus Fasteners, Complete Fastening Systems, EBN Industrial Supply, Hi-Tech Tools, JMC Sales & Engineering, Mill Supplies, Inc., and Wayne Fasteners. Read more:

In Fastener Events and Happenings News…

November 17th is After Hours with the Pacific West Fastener Association. 5-8PM at BJ’s Restaurant and Brewhouse Stop by and meet other people in the fastener industry and expand your professional network. For more info go to Pac-West.org

The Fastener Training Institute and Industrial Fasteners Institute will present a live webinar looking at how we install fasteners and why. The Very Basics of Bolted Joint Installation will take place December 1st at 12:00-2PM ET. Participants will gain an understanding of the fastener engineering of the bolted joint and how users approach achieving the tension they desire. This is a “basics” webinar and good for anyone new to the fastener industry, in a position where understanding how the customer is applying the product is essential, or just wants to learn more about the industry. For more information 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 @FastenerNews and on LinkedIn in the Fastener News Group!

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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.

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Fastener News, Fastener TV

Are you ready to test your knowledge of Fasteners? 

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QUESTION: What does the “10.9” stamped on the head of a metric bolt denote?

A: WATCH VIDEO NOW FOR THE CORRECT ANSWER

Eurolink is the premier US distributor of metric fasteners and fastener lines with hard-to-find metric fasteners manufactured to both DIN and ISO standards. As the nation’s leading source for hard-to-find metric fasteners, Eurolink offers access to more than 100,000 quality C-class parts from countries such as Germany, Italy, Switzerland, Poland, Spain, France, and Great Britain. Regardless of your required size, material, or finish, EurolinkFSS.com has the European resources to meet your demands.

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Eurolink is committed to providing you fast HASSLE-FREE ordering, fair pricing, and timely delivery. Are you spending hours searching fastener websites or catalogs? Waiting on hold while a sales rep digs through their catalog to confirm a DIN number? Wondering if your invoice will even be processed correctly? How about worrying whether or not your quoted ship date was just a sales rep’s guess? Not at Eurolink Fastener!

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• Tuesday, November 15th, 2022

• Tuesday, November 22nd, 2022

• Tuesday, November 29th, 2022

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• Thursday, November 17th, 2022

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Express air freight orders normally ship from our European partners within 24-48 hours after your order is placed with us and arrives at our U.S. facility within 4-7 business days. Our express freight option is available upon request. Contact our sales team if you would like to request the pricing for this freight option.

If you have questions about our freight options, check our website for more information.

CONTACT EUROLINK TODAY: https://eurolinkfss.com/

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Fastener Pop Quiz

Gain insights into who today’s B2B businesses are, the current state of the industry and the top trends for 2022.

A preview of findings

What does the current B2B ecommerce landscape look like? Here’s a preview of the data you’ll find in the report:

Focusing on B2B & B2C

34% of B2B businesses have an equal focus on B2B and B2C channels

Prioritizing digital commerce

35% say investing in ecommerce platform technology is a top priority

Selling on marketplaces

78% of B2Bs say they are selling on Amazon

Get the insights you need to succeed in 2022

B2B commerce continues to evolve, but one thing remains certain — the importance of ecommerce in the world of B2B is only going to grow as buyers continue to seek more conveniences and new digital avenues for purchases.

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• Get strategies for onboarding B2B customers to buy online
• See which tools B2Bs are using to improve their online shopping experience
• Learn ways B2Bs are expanding their reach through new channels

Download the report

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,  /PRNewswire/ — September 15 – October 15 was Hispanic Heritage Month, and ZAGO Manufacturing Co. is proud to share stories of the Hispanic women and men who comprise its diverse workforce, from production to executive leadership.

Meet TEAM ZAGO:

Sonia Letona, Quality Control Manager, Guatemala. Sonia came to America 15 years ago and landed her first job at ZAGO working in assembly. Sonia, who is a wife and mother of three, excelled and now leads a team of seven. When asked about how she rose to her position, Sonia says, “I love learning. I ask lots of questions, and I care about helping our customers.”

Aly Damacela, Contract Reviewer/ Buyer, Ecuador. Aly began her journey at ZAGO 10 years ago while earning a Bachelor of Science in Marketing at Kean University and becoming a mom. “At ZAGO, I can be a mother while continuing to grow my career. ZAGO even paid my college tuition.”

Jonathan Cruz, Lead Machinist and Robot Specialist, Honduras.Jonathan joined ZAGO in 2014 operating machines to produce sealing screws, before working his way up. Jonathan’s passion for manufacturing and engineering prompted him to pursue an Engineering Technology, Manufacturing degree from New Jersey Institute of Technology.

Viviana Alverez, Purchasing and Expediting, Columbia.Viviana’s career began in 2018 in shipping before working up to Purchasing & Expediting. Viviana appreciates the family feel ZAGO provides. “I love working at ZAGO. We’re more than just colleagues, we’re family.”

Jackie Luciano, Vice President, Puerto Rico.Jackie Luciano began her career 14 years ago, rising from part-time bookkeeper, raising two young children to Vice President, achieving her MBA in Finance from Rutgers along the way.

Representation Matters – “If women and men hailing from different backgrounds don’t see themselves represented, then, they won’t know that a fruitful career in manufacturing is possible,” says Gail Friedberg Rottenstrich, Co-Founder and CEO, ZAGO, a woman-owned business.

“We have an amazing pool of Hispanic associates including Kleber Rivera, Ecuadorian and Stephanie Carhuavilca, Honduran. Both are progressing at work and furthering their education, and like all our associates, play pivotal roles. When our associates succeed, ZAGO succeeds,” says Jackie Luciano.

Support is Crucial – ZAGO, which makes environmentally friendly sealing fasteners and components in Newark, NJ, covers 100% tuition for eligible associates to take courses, including ESL classes, and earn professional certificates and advanced degrees.

Contact: Kim Keating, kim@zago.com

SOURCE:

Go to: https://zago.com/

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Fastener Distributor Index | October 2022

Fastenal Hits $1 Billion in Year-to-Date eCommerce Revenue

Workforce / Skills Gap

The Fastener Distributor Index (FDI) survey for October, 2022 dipped further into contractionary territory last month with a 44.3 reading, seasonally adjusted, after ending 27 straight months of expansion by sinking to 47.6 in September.

The Forward Looking Indicator (FLI) further softened to 42.2, reflecting general pessimism with expected market conditions.

Key Takeaway:

The October seasonally adjusted Fastener Distributor Index (FDI) declined further vs. the previous month, coming in at 44.3 (September was 47.6). This represents another contractionary reading, indicating market conditions continued to deteriorate. This was consistent with the sub-50 reading in last month’s Forward-Looking Indicator (FLI). Demand commentary again skewed pessimistic, with comments ranging from “slight slowing” to “noticeable declines”, and very few positive comments about demand.

On the positive side, stainless steel pricing seems to be stabilizing and many respondents noted improvement in supplier lead times and overseas transit times. Looking ahead, the FLI once again registered a sub-50 index value, reading 42.4, suggesting further declines in the FDI could be likely. Overall, similar to the overall macro backdrop, and the industrial economy specifically, fastener market demand conditions continue to soften.

READ FULL REPORT:

FDI_Report_October_2022

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.

Stay tuned for episode #182 of the Fully Threaded Radio podcast for further commentary and analysis. FullyThreaded.com.

Contact: Eric Dudas | O: 877.332.7836 | C: 630.532.2442

www.fastenersclearinghouse.com

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FASTENER DISTRIBUTOR INDEX (FDI) | SEPTEMBER 2022

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Fastener Distributor Index, Fastener News, Industrial Distribution

Acquisitions, Fastener News, Fastener Press Releases, Featured, Industrial Supply, Press Releases

A linear ball screw is a mechanical actuator that creates high-performance, low friction linear motion at high speeds and duty loads. Essentially, it is a high-efficiency method of converting rotary motion to linear motion by using a recirculating ball mechanism between a screw shaft and a nut. Compared with a conventional sliding screw, the ball screw requires far less driving torque, typically one-third or less for comparable loads. This makes it ideal for reducing the required drive motor power for a given application. Linear ball screws are widely utilized in a variety of industries: from warehouse logistics robots and automotive power steering to aircraft aileron actuators — or even semiconductor wafer processing equipment stages.

NOTE: This case study is based on 3DEO’s production of the ball return tube for a US-based Tier 3 aerospace supplier in the aerospace and aviation industry.

3D Printing / Additive Manufacturing, Fastener News, Featured

November 4, 2022

AFC Industries has acquired Erie, PA based Champion Bolt (www.championboltinc.com) Terms of the deal were not disclosed. Champion, established in 1986, specializes in custom-solutions and services for OEM assembly environments.

“Champion Bolt has demonstrated a long-term commitment to providing excellent service to customers and deepens several unique capabilities for the AFC platform. We are

happy to welcome them to the AFC family” -AFC CEO Kevin Godin

“Being part of the AFC group brings several resources that will unlock additional opportunities for us with both new and existing customers. We spoke with several potential buyers and are confident the AFC culture and strategy will be the best fit for our team and our customers.” – Champion President Dave Ott

About AFC Industries

Headquartered in Fairfield OH, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions for fasteners, tooling, and assembly components to original equipment manufacturers, assembly plants, and other users of these products. Their supply solutions include Vendor Managed Inventory, Stock and Release programs, Light Assembly, Kitting, and Private Labeling services amongst others. AFC supports a diverse base of manufacturers across a broad range of industries. Their experienced team has a proven track record of helping manufacturers and assemblers reduce cost, improve quality, and increase efficiency. (www.afcind.com) In April 2021 AFC Industries was acquired by Bertram Capital, based in Foster City CA.

(www.bertramcapital.com)

For additional questions please contact sales@afcind.com

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WINONA, Minn.–(BUSINESS WIRE)– In recent years, Fastenal celebrated two major milestones related to its FAST Solutions program, surpassing 100,000 active FMI Technology devices within customer sites and, later, 1,000 Onsite partnership programs. In October, the company added a third significant milestone to the list, for the first time reaching $1 billion in eCommerce revenue within a calendar year.

Fastenal’s eCommerce platform officially launched more than 20 years ago, but historically it represented a relatively small share of the overall business. This began to change about five years ago with a strategy positioning eCommerce as a critical component of the company’s high-tech, high-touch service model. While many retailers and distributors were racing to move their offline business online in pursuit of a lower cost to serve, Fastenal took a very different approach – using its eCommerce platform to identify opportunities to migrate customer spend from a transactional (and, for the customer, higher-cost) online environment to a more strategic and efficient environment anchored by the company’s Onsite and FMI (Fastenal Managed Inventory) programs.

This focus on big-picture value creation has accelerated Fastenal’s eCommerce revenue growth. Five years ago, in 2017, the company’s eCommerce sales were $245 million, representing 5.5% of total company sales. After hitting the $1 billion milestone in October, Fastenal’s eCommerce sales represent 17.4% of total company year-to-date sales (and 19.9% of its October 2022 sales).

“It’s amazing to see how far we’ve come, especially over the past five years as we positioned eCommerce to strengthen our strategic partnerships,” said Kirk Talmontas, Fastenal’s vice president of eCommerce. “It’s a testament to the innovation and dedication of all the team members who have made this happen.”

“We don’t often think of eCommerce as our primary go-to-market strategy, but it’s become a vital part of our ‘digital footprint’ – the technology we provide to streamline and illuminate the supply chain,” added Dan Florness, president and CEO of Fastenal. “Thanks to the hard work of the entire Blue Team, we’re taking eCommerce in new directions in our industry and finding new ways to create value for our customers.”

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 via more than 3,300 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI^® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by our tagline, Where Industry Meets Innovation^™. Our local service teams are supported by 16 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.

Source: Fastenal Company

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