Author - fluentdesigns

Here’s what’s happening in fastener industry news, scholarship opportunities and upcoming events the week of August 14, 2023.

Watch now on YouTube @FastenerTV: (11:26)

The July Fastener Distributor Index seasonally adjusted, 40.7 reading was substantially lower vs. last month’s 45.6 reading, dragged down by a significantly weaker than expected sales backdrop. Three of the four components of the FDI: sales, employment, and supplier deliveries saw deterioration, while customer inventories showed some m/m improvement. Quoting activity was said to be high but conversion to actual orders was lacking. This drove the seasonally adjusted sales index to record a reading of just 22.3, down sharply from 41.9 last month. 70% of respondents indicated sales were below seasonal expectations, which is the highest since the early days of the pandemic. Sales exceeded expectations for only 10% of respondents. The Forward-Looking Indicator was also slightly softer m/m, decreasing to 38.8 from June’s 39.3 reading. 

Fastener Distributor Index (FDI) | July 2023

Fastenal Teams with Trex to Turn Used Plastic into Outdoor Building Products One of the ESG objectives of the Fastenal Company is to reduce consumption and environmental impacts throughout its operations and provide solutions for its customers to do the same. To support this objective, Fastenal has entered into a scrap supply agreement with Trex Company, Inc., the world’s leading manufacturer of wood-alternative composite decking, railing, and other outdoor building products made from recycled materials. The entire portfolio of Trex composite decking is made from 95% recycled and reclaimed materials, including a mix of polyethylene (PE) film and industrial wood scrap.

Through the partnership, Fastenal is collecting used PE film in its distribution centers, branches, and customer-specific Onsite locations and shipping it to Trex to use the material in the manufacture of its composite decking products. PE film known as “pallet wrap” in the distribution industry is used by Fastenal and its suppliers to secure boxes and other packaging to pallets for shipment.

Fastenal Teams with Trex to Turn Used Plastic into Outdoor Building Products

SPONSOR: Registration is open for the 2023 International Fastener Expo at Mandalay Bay in Las Vegas from October 9-11, 2023. Step into the future of fasteners, machinery, and industrial products at the most anticipated event of the year! The International Fastener Expo (IFE) is the ultimate business-to-business expo for all things fasteners…As the largest fastener event in North America for more than 40 years, IFE caters to every level of the supply chain, making it the go-to event for fastener industry professionals. Attendees can participate in special events like the IFE Annual Golf Tournament, the Welcome Reception Party, Keynote Speaker, informative sessions on the show floor. And the prestigious Fastener’s Hall of Fame & Young Fastener Professional Award Ceremony, where industry excellence is celebrated. Register now Use promo code FND50 to save $50.00 on registration. Go to FastenerShows.com

The fastener industry has lost another veteran. Maury Aaron Finkelstein, Warren Fastenings South died at the age of 80. His family said his zest for life, love of his family and friends, incredible talent in golf, sense of humor and optimism will be forever missed. May his memory always be a blessing to his family, friends, and colleagues.

The latest business to be featured in the Fastener News Desk FASTENATING new series: “Celebrating Your Success” is…

West Coast Lockwasher! WCL is Celebrating 66 years, a second generation of ownership, led by brothers, Lee Harper, CEO and Craig Harper, President. WCL Company has been specializing in fastener solutions since 1957. A leading supplier of mil-spec and commercial fastener products such as lock washers, flat and spring washers, threaded fasteners, plastic components and customer specials. WCL continues to be a leading force in the fastener industry, reaching new heights by embracing an enhanced team culture guided by their current management team, together, they bring over 125 years of combined service and knowledge to the fastener industry. Congratulations to the WCL team!

FASTENATING news series: WCL Celebrating 66 Years in the Fastener Industry

Help support by volunteering or donating to the Mid-West Fastener Association’s annual bed build to support the Sleep in Heavenly Peace organization! The goal is to raise enough money to build 90 beds for kids in the Chicago area during the event on August 20^th.. The bed build is being held at Abbott Interfast in Wheeling, IL. 

Sign up here! (Volunteers must choose US / Illinois / Kankakee / MWFA bed build) https://sleepinheavenlypeace.my.site.com/Volunteering/s/

Donate here! https://interland3.donorperfect.net/weblink/weblink.aspx?name=E345976&id=564

The Mid-West Fastener Association’s highly anticipated FSTNR Week is just 1 week away, taking place in Chicago August 20-24, 2023! Members and attendees will experience:

• The ‘Sleep in Heavenly Peace” Bed Build event
• MWFA Plant Tours
• Print Reading Seminar
• 41^st MWFA Fastener Show
• Retro 80’s Fastener Bash
• MWFA 70^TH Golf Outing & Mixer.

For all the details and to register go to www.mwfa.net

 FSTNR Week Brochure: https://mwfa.net/pdf/FSTNRWeek23-Brochure.pdf

MWFA’s by-line is “Where Education is a Priority” The MWFA Is accepting applications for their 2023 Education Scholarships. This is a great opportunity you won’t want to miss out on! If you qualify, you could receive significant financial support to pursue your educational dreams. Multiple scholarships will be awarded, with a minimum award of $1,500.

The scholarships will be awarded at the November MWFA meeting. The application deadline is September 1st. For details and application go to https://mwfa.net/

DOWNLOAD MWFA SCHOLARSHIP APPLICATION: https://www.mwfa.net/pdf/scholarship-application-new.pdf

Connect – Learn – Grow at the 2023 Pac-West Fall Conference happening Thursday, September 14, 2023 – Saturday, September 16, 2023. Three days of networking, education, and fun. To learn more and register go to: https://www.pac-west.org/index.php?option=com_jevents&task=icalevent.detail&evid=541

Join the New England Fastener Distributors Association for Understanding Blueprints, a virtual class September 18th at 10:00am. ET. The class is for anyone in the fastener industry, whether you’re just starting your fastener career or are a seasoned veteran. Instructor Jim Speck will be demonstrating how to effectively read a blueprint.

He will cover the basics such as:

• How to read a print
• The different types of prints
• Understanding what needs to be on a print
• Understanding tolerances and specifications

Visit https://www.nefda.com/event/print-reading-basics-with-jim-speck/ to register now!

Grow from novice to knowledgeable with the Fastener Training Institute’s Fastener Basics in Denver, CO, on September 22. Expert trainer Laurence Claus, IFI Director of Education and Training, will teach this all-day training session geared for individuals new to the fastener industry and those who need to know more about the products they sell. Register today at https://fastenertrainingevents.com/fastener-basics-denver.htm

SPONSOR: Join the Fastener Training Institute for an all-day training program on Monday, October 9^th, at the International Fastener Expo! Fastener Fundamentals, The Nuts and Bolts for Fastener Professionals, will offer the best of the Fastener Basics Training and Certified Fastener Specialist™ Training programs. The one-day class will bring the basics of fasteners and beyond to industry professionals. Take advantage of early bird pricing through October 7, 2023. Register now: https://fastenershows.com/fti-class/

SPONSOR: Tee off with fastener industry leaders and fellow enthusiasts at the highly anticipated annual International Fastener Expo Golf Tournament. This premier event provides an excellent opportunity to network, build relationships, and have a fantastic time on the greens. Whether you’re a seasoned golfer or just starting, this tournament promises a day of camaraderie, friendly competition, and unforgettable memories. Mark your calendars and practice your swing because this is an event you won’t want to miss! The tournament will take place on Monday, October 9^th at the Bali Hai Golf Club. The IFE Golf Tournament presents an array of sponsorship opportunities designed to put your brand at the forefront. By sponsoring different aspects of the tournament, you can ensure maximum visibility to your target audience. Go to FastenerShows.com for registration and sponsorship opportunities!

Hey there! DYK, we have 4 million manufacturing jobs to fill by 2030! Let’s work together and inspire the next generation of manufacturers by hosting a #MFGDay23 event!

Save the Date: Friday, October 6^th for Manufacturing Day 2023.

Celebrated nationally on the first Friday in October and throughout the month. MFG Day is manufacturing’s biggest annual opportunity to inspire the next generation, positively shift perceptions about our industry, and build the foundation for the manufacturing workforce of the future. Resources and toolkits available: https://mfgday.com/resources/

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 stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our feed @FastenerNews at X.com the new twitter rebrand, on LinkedIn in the Fastener News Group and @FastenerNews at Threads!

 If you would like to share your company’s news or events contact me, lisa@fastenernewsdesk.com.  Thanks for tuning in to this week’s episode of ‘IN THE NEWS’ with Fastener News Desk.

Until next week, be well and keep it fastenating.

Sign up for the free FND newsletter designed to keep busy fastener professionals like you up-to-speed on “All things FASTENATING”!

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Revolutionizing B2B and Distribution Channels

As we stand on the cusp of the fourth industrial revolution, AI technology continues to reshape various sectors, and the industrial supply market is no exception. With a global valuation of over $500 billion, the industrial supply market plays a vital role in supporting manufacturers and distribution channels across diverse industries such as automotive, building construction, electrical, defense, and manufacturing. In this post we will explore the transformative impact of AI technologies on different aspects of the industrial supply market, ranging from eCommerce and customer experience to sales channels and data analytics.

Enhancing E-commerce Efficiency

The proliferation of eCommerce has revolutionized the way businesses operate, allowing for faster transactions and seamless global trade. AI technology, powered by advanced machine learning algorithms, is set to further optimize eCommerce processes in the industrial supply market. AI technology, can revolutionize customer interactions, enabling businesses to provide personalized product recommendations, answer inquiries, and offer real-time support. By leveraging natural language processing capabilities, AI-powered chatbots can understand customer needs, assist in product selection, and enhance the overall eCommerce experience.

Improved Customer Experience through Personalization

In today’s competitive market, providing an exceptional customer experience is paramount for sustainable growth. AI technologies can empower industrial supply businesses to deliver highly personalized experiences tailored to the unique needs of each customer. By analyzing vast amounts of customer data, AI algorithms can predict customer preferences, anticipate their requirements, and make proactive recommendations. Whether it’s suggesting compatible products, streamlining order fulfillment, or offering tailored pricing, AI can significantly enhance customer satisfaction, fostering long-term loyalty and repeat business.

Transforming Sales Channels

The industrial supply market encompasses a complex network of manufacturers, distributors, and other intermediaries. AI technology has the potential to streamline these sales channels, optimizing inventory management, and facilitating more efficient transactions. Through advanced demand forecasting models, AI algorithms can analyze historical data, market trends, and external factors to accurately predict demand and optimize supply chain operations. This ensures that the right products are available at the right time, reducing costs and minimizing stock outs. Moreover, AI-powered recommendation systems can aid distributors in identifying potential cross-selling and upselling opportunities, enabling them to maximize revenue and drive business growth.

Unleashing the Power of Data Analytics

In an increasingly data-driven world, the industrial supply market generates massive volumes of data. Leveraging AI technologies, businesses can extract valuable insights from this data to make informed decisions and drive operational excellence. Advanced analytics algorithms, such as machine learning and deep learning, can uncover patterns, detect anomalies, and identify optimization opportunities. From predictive maintenance to supply chain optimization, AI-enabled data analytics can enhance efficiency, reduce costs, and mitigate risks. By harnessing the power of AI, businesses can leverage data as a strategic asset, driving competitive advantage in the dynamic industrial supply market.

Future Possibilities and Conclusion

As AI technologies continue to advance, the potential benefits they offer to the industrial supply market are limitless. From intelligent procurement systems that optimize purchasing decisions to autonomous robots that automate warehouse operations, the integration of AI into various facets of the industrial supply chain holds immense promise. AI technologies will play a pivotal role in transforming the industrial supply market, driving innovation, and reshaping the way B2B and distribution channels operate. Embracing AI will empower businesses to stay ahead of the curve, unlock new opportunities, and achieve sustainable growth in an increasingly competitive landscape.

Remember, the power of AI lies not only in the technology itself but also in the imagination and creativity of those who wield it. Let us embark on this transformative journey together and seize the untapped potential of AI in the industrial supply market.

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In the bustling world of fastener professionals, it’s easy to overlook the profound impact you’re have on shaping dreams, aspirations, and accomplishments. At first glance, it might seem like you’re merely dealing in nuts, bolts, and screws – essential yet seemingly mundane objects. However, I’d like to shed light on a perspective that will infuse your work with newfound purpose and meaning. You’re not just selling products; you’re enabling dreams, fostering innovation, and playing an integral role in the grand tapestry of human achievement.

In a world where the pursuit of purpose and fulfillment often takes center stage, it’s crucial to recognize the profound significance of your role in the fastener industry. Beyond the clinks and clanks of metal, beyond the intricate engineering and precision, your work contributes to a much greater narrative – one that speaks to human ingenuity, creativity, and progress.

Consider this: as fastener industry professionals, you are pivotal enablers of countless dreams. The bridges that connect communities, the airplanes that soar through the skies, the machines that revolutionize industries – they all rely on the stability, reliability, and strength that your products provide. You’re not selling mere objects; you’re selling the tools that empower architects, engineers, and visionaries to manifest their ideas into reality.

But let’s dive deeper. Today’s fasteners are not just mechanical entities; they are technological marvels that communicate data around the clock, providing insights that drive efficiency and safety. These “talking bolts” are a testament to the relentless pursuit of innovation within your industry. You’re not just part of the market; you’re at the forefront of technological progress, shaping the way our world functions.

However, the impact doesn’t stop at innovation alone. The fastener industry boasts a heart that beats with compassion and a commitment to social responsibility. Industry organizations rallying together to raise funds to offer educational scholarships for future generations coming into the industry, and collaborating with charities to build beds for children in need. Your work transcends the confines of profit margins; it touches lives, provides opportunities, and makes the world a better place for those less fortunate. 

I offer you this moment to take a deep breath…in a world that can sometimes feel disjointed, remember that you are the unseen force holding it all together. Every building that stands tall, every vehicle that moves forward, and every creation that pushes boundaries is, in part, a testament to your dedication and expertise. You are the unsung heroes of progress, and it’s time to embrace this truth.

So, to all fastener industry professionals, I challenge you to shift your perspective. Look beyond the surface and see the intricate threads that connect your work to the dreams, aspirations, and accomplishments of countless individuals. Embrace the profound purpose that underpins your every action. You’re not selling “meaningless shit”; you’re selling the tools that empower dreams to be built, repaired, and achieved. You’re an integral part of a narrative that shapes the world we live in – a narrative of resilience, innovation, and progress. It’s time to recognize your contribution and hold your head high, for you are the heartbeat of an industry that holds our world together.

GR8FUL4U,

Lisa Kleinhandler, Editor-in-Chief | Fastener News Desk

P.S. 

Help support Mid-West Fastener Association and their annual bed build for Sleep in Heavenly Peace!

The event will raise money to build beds for children in the Chicago area who do not have one of their own. The goal is to raise enough money to build 90 beds during the event on August, 20!

Donate here: https://interland3.donorperfect.net/weblink/weblink.aspx?name=E345976&id=564

Volunteer here: (Volunteers must choose US / Illinois / Kankakee / MWFA bed build) https://sleepinheavenlypeace.my.site.com/Volunteering/s/

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FASTENATING news series: WCL Celebrating 66 Years in the Fastener Industry

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FASTENATING NEWS SERIES: “Celebrating Your Success”

Founded in 1957 by Robert Harper, WCL Company (West Coast Lockwasher) has always stood for family, trust, honesty, and a commitment to our customers to offer quality products. When Robert started the company, he had a vision to supply washers to the masses and he set his dream in motion in a modest 350-foot rented office space in Lynwood, CA. After a stop in Downey, WCL relocated to City of Industry, CA in 1973, WCL’s brand shifted significantly to become more than washers to the fastener industry. Our expansion concentrated on a variety of C-commodity items for both mil-spec and commercial industries. Our focus on quality led WCL to become AS9100/ISO9001 certified in 2011 and we maintain those certifications today. Our scope is both manufacturing and distribution of fasteners for commercial, medical, aviation, space, and defense industries.

Here we are 66 years later, in our second generation of ownership, led by brother duo, Lee Harper, CEO and Craig Harper, President and we are still a leading force in the fastener industry. WCL is reaching new heights by embracing an enhanced team culture guided by our current management team, Craig Harper, along with Dena Beaty, Operations Manager and Holly McDaniel, Sales Manager; together, they bring over 125 years of combined service and knowledge to the fastener industry.

WCL is a mighty team of 23 talented and dedicated employees who bring diverse views, innovation, and technical expertise to our organization. They are wholeheartedly committed to offering excellence with every interaction our customers have with us. Inherent in this commitment is also our dedication to continual improvement in every aspect of our products and operations. We are committed to educating and empowering our employees, nurturing their creativity, allowing them to make decisions, to foster an engaged and motivated team atmosphere which in turn allows us to be the ultimate supplier to our customers.

We stock a diverse product line including both metallic and plastic fasteners. Our warehouse is home to over 25,000 SKUs that are the highest quality and most cost-effective fasteners and components. WCL offers robust sourcing and manufacturing resources because we want to always be the fastener experts our customers rely on. Additionally, WCL offers value-added services like kitting, packaging, assembly, barcode identification, VMI, EDI, engineering support and custom products to fit your every need.

Relationships are why WCL remains a leader in the industry, though. We connect with our customers on so many levels where we drive their success through the solutions we provide. When you partner with WCL, we will ask questions, invest in your challenges, communicate with you openly and we believe that collaboration is king. To truly build a partnership together, we will align goals, delivery schedules, and operations. We know at the heart of business, both parties are equal and equally important. Our dedication to our customers has always been and will always be at the forefront of our business model.

About WCL

WCL is one of the few true “Fastening Specialists”. We have one of the broadest and most diversified inventories of fastening components available from any single source. We know what  fasteners are designed to do and what its limitations are. Our engineering sales department will recommend the fastener to meet your specific needs. We are not limited to any one particular product line. We globally source products to provide you with the best prices and quality available in the industry. Our commitment to “Excellent Customer Service” is demonstrated every time you call. We support our customers with products manufactured by ourselves along with some of the world’s leading suppliers to industry.

Website: wclco.com

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Fastener Distributor Index (FDI) survey for July, 2023 slid dramatically to 40.7 after its 45.6 reading in June, seasonally adjusted.

The Forward Looking Indicator (FLI) dipped once again to 38.8, after its 39.3 reading the previous month.

Key Points:

• FDI softens significantly vs. last month. The seasonally adjusted July FDI (40.7) was substantially lower vs. last month’s 45.6, dragged down by a significantly weaker than expected sales backdrop. Three of the four components of the FDI (sales, employment, and supplier deliveries) saw sequential deterioration, while customer inventories showed some m/m improvement. Quoting activity was said to be high but conversion to actual orders was lacking: “Quoting activity is high, however orders are not matching. Customers are not picking up as much as we expected in July.” This drove the seasonally adjusted sales index to record a reading of just 22.3, down sharply from 41.9 last month. 70% of respondents indicated sales were below seasonal expectations, which is the highest since the early days of the pandemic (April 2020 83%). Sales exceeded expectations for only 10% of respondents. We suspect vacations and/or Fourth of July holiday timing (on a Tuesday) played a role; some respondents suspect so as well: “July bookings really dropped, shipments of previous orders are still going out the door, but new orders [were soft]. Could be vacation time popular in July, or a combination of slowing business and vacation.” Said another participant, “Believe July sales were lower due to the holiday, overall YTD results are strong.”

• FLI remains below 40. The FLI was also slightly softer m/m, decreasing to 38.8 from June’s 39.3. The FLI remains well below 50, indicating further weakening is expected ahead. Softer employment and higher respondent/customer inventories more than offset a slightly improved six-month outlook. On the outlook specifically, a slightly higher percentage of respondents predicted higher activity levels six months from now vs. today compared to last month (23% in June, 17% in May). The percentage anticipating similar activity was relatively unchanged (40% vs. 38% last month), but fewer people now expect lower activity levels (37% vs. 45% in June). Signs of improvement emerging for some respondents; others see stabilization. While the outlook remains on balance more pessimistic regarding the next six months compared to today, some participants are striking a more optimistic tone: “The recent increase in activity from June through July indicates a possible robust end to 2023 based on historic trends. The indication shows promise.” Others see more stabilization (ex. the residential market) than acceleration or deceleration: “Residential related end users are slow to consume high-cost basis inventory, delaying market price adjustments to account for lower material/freight costs. Inventory levels are high for anything residential related, but all other sectors appear to be stable.” With quoting activity still said to be high and the FDI sales index marking a post-pandemic all-time low, perhaps we are closer to approaching a bottom for the FDI index/overall activity levels.

• Fastenal reported July daily sales growth of +3.7%, exceeding our +2.3% estimate and slightly better than normal seasonality. This included fastener sales -1.9% y/y, however, which reflected further m/m deceleration and marked the third consecutive month of y/y declines. Safety sales were +8.3% and other non-fasteners grew +6.6% y/y. Looking forward, we model August daily sales +4.0% y/y which is also in line with days-adjusted normal seasonality. Based on slightly below normal sequential growth thereafter, we have y/y ADS growth rates dropping to the low-single digits for FAST by 4Q23. This outlook is consistent with a string of sub-50 readings in the ISM and the Baird FDI survey of private fastener distributors.

READ FULL FDI REPORT:

FDI_Report_July_2023

Listen to episode #191 of the Fully Threaded Radio podcast for further commentary.

We encourages all North American fastener distributors to take part in the FDI Monthly Survey.

If you are interested in being a more active part of the fastener industry, you can apply to add your company to the FDI survey group. Complete the “Request an Invitation to Participate” form by clicking here. Once verified, you will receive login ID and password information and you will be notified by email every month when the survey period has been opened.

– Fastener News Desk

About the Fastener Distributor Index (FDI).

The Fastener Distributor Index (FDI) was developed as a service to the fastener industry by the FCH Sourcing Network in 2012 to be a new benchmark for the fastener industry. The FDI is a monthly survey of North American fastener distributors, conducted with the FCH Sourcing Network and Baird. 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.

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Founded in 1957 by Robert Harper, WCL Company (West Coast Lockwasher) has always stood for family, trust, honesty, and a commitment to our customers to offer quality products. When Robert started the company, he had a vision to supply washers to the masses and he set his dream in motion in a modest 350-foot rented office space in Lynwood, CA. After a stop in Downey, WCL relocated to City of Industry, CA in 1973, WCL’s brand shifted significantly to become more than washers to the fastener industry. Our expansion concentrated on a variety of C-commodity items for both mil-spec and commercial industries. Our focus on quality led WCL to become AS9100/ISO9001 certified in 2011 and we maintain those certifications today. Our scope is both manufacturing and distribution of fasteners for commercial, medical, aviation, space, and defense industries.

Here we are 66 years later, in our second generation of ownership, led by brother duo, Lee Harper, CEO and Craig Harper, President and we are still a leading force in the fastener industry. WCL is reaching new heights by embracing an enhanced team culture guided by our current management team, Craig Harper, along with Dena Beaty, Operations Manager and Holly McDaniel, Sales Manager; together, they bring over 125 years of combined service and knowledge to the fastener industry.

WCL is a mighty team of 23 talented and dedicated employees who bring diverse views, innovation, and technical expertise to our organization. They are wholeheartedly committed to offering excellence with every interaction our customers have with us. Inherent in this commitment is also our dedication to continual improvement in every aspect of our products and operations. We are committed to educating and empowering our employees, nurturing their creativity, allowing them to make decisions, to foster an engaged and motivated team atmosphere which in turn allows us to be the ultimate supplier to our customers.

We stock a diverse product line including both metallic and plastic fasteners. Our warehouse is home to over 25,000 SKUs that are the highest quality and most cost-effective fasteners and components. WCL offers robust sourcing and manufacturing resources because we want to always be the fastener experts our customers rely on. Additionally, WCL offers value-added services like kitting, packaging, assembly, barcode identification, VMI, EDI, engineering support and custom products to fit your every need.

Relationships are why WCL remains a leader in the industry, though. We connect with our customers on so many levels where we drive their success through the solutions we provide. When you partner with WCL, we will ask questions, invest in your challenges, communicate with you openly and we believe that collaboration is king. To truly build a partnership together, we will align goals, delivery schedules, and operations. We know at the heart of business, both parties are equal and equally important. Our dedication to our customers has always been and will always be at the forefront of our business model.

About WCL

WCL is one of the few true “Fastening Specialists”. We have one of the broadest and most diversified inventories of fastening components available from any single source. We know what  fasteners are designed to do and what its limitations are. Our engineering sales department will recommend the fastener to meet your specific needs. We are not limited to any one particular product line. We globally source products to provide you with the best prices and quality available in the industry. Our commitment to “Excellent Customer Service” is demonstrated every time you call. We support our customers with products manufactured by ourselves along with some of the world’s leading suppliers to industry.

Website: wclco.com

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August 8, 2023

WINONA, Minn.–(BUSINESS WIRE)– One of the environmental, social, and governance (ESG) objectives of Fastenal Company (Nasdaq: FAST) is to reduce consumption and environmental impacts throughout its operations and provide solutions for its customers to do the same. To support this objective, Fastenal has entered into a scrap supply agreement with Trex Company, Inc., the world’s leading manufacturer of wood-alternative composite decking, railing, and other outdoor building products made from recycled materials. The entire portfolio of Trex composite decking is made from 95% recycled and reclaimed materials, including a mix of polyethylene (PE) film and industrial wood scrap.

Through the partnership, Fastenal is collecting used PE film in its distribution centers, branches, and customer-specific Onsite locations and shipping it to Trex to use the material in the manufacture of its composite decking products. PE film (familiarly known as “pallet wrap” in the distribution industry) is used by Fastenal and its suppliers to secure boxes and other packaging to pallets for shipment.

“Pallet wrap is vital to our daily operations, but once the product is unwrapped, we have no use for it,” said Dave Olson, Director of EHS & Sustainability for Fastenal. “Working with Trex to turn all that potential waste into sustainable outdoor building products is a win for both organizations.”

To support the program, Fastenal has invested more than $300,000 in equipment and infrastructure in its United States distribution centers to efficiently bale and consolidate used PE film for recycling by Trex. In the first year of the program, Fastenal expects to divert an estimated 600,000 pounds of plastic from landfills through material collected within its distribution centers (where a high volume of pallet wrap is received as part of inbound shipments from suppliers). In addition, more than 2,500 U.S. Fastenal branches and Onsite locations can participate by using Fastenal’s regular truck routes to back-haul used material to the nearest distribution center for baling, consolidation, and shipment to Trex.

Each year, Trex repurposes in excess of one billion pounds of reclaimed materials in the making of its products, including approximately 400 million pounds of plastic film, making it one of the largest recyclers of PE film in North America. Through its NexTrex^® Recycling Program, Trex partners with commercial businesses and community organizations across the country to collect and transport recycled plastic material to its manufacturing facilities in Winchester, Virginia and Fernley, Nevada.

“We applaud Fastenal’s commitment to creating a more sustainable business model by participating in the NexTrex Recycling Program,” said Dave Heglas, Senior Director of Supply Chain Excellence for Trex. “The contributions of eco-minded partners, like Fastenal, are not only integral to our manufacturing process, but also critical to addressing our country’s growing plastic waste problem.”

About Trex

For more than 30 years, Trex Company (NYSE: TREX) has invented, reinvented, and defined the composite decking category. Today, the company is the world’s #1 brand of sustainably made, wood-alternative decking and deck railing – all proudly manufactured in the U.S.A. – and a leader in high performance, low-maintenance outdoor living products. The undisputed global leader, Trex boasts the industry’s strongest distribution network with products sold through more than 6,700 retail outlets across six continents. Through strategic licensing agreements, the company offers a comprehensive outdoor living portfolio that includes deck drainage, flashing tapes, LED lighting, outdoor kitchen components, pergolas, spiral stairs, fencing, lattice, cornhole and outdoor furniture – all marketed under the Trex^® brand. Based in Winchester, Va., Trex is proud to have been named one of 2022’s 50 Best U.S. Manufacturers by Industry Week. For more information, visit www.Trex.com.

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 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, Fastenal helps its business partners achieve product and process savings across the supply chain – a “high-touch, high-tech” approach encapsulated by its tagline, Where Industry Meets Innovation^™. Fastenal’s 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 it 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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements that are not historical in nature and that are intended to be, and are hereby identified as, “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, estimates made regarding anticipated plastic diversion and recycling. A discussion of other risks and uncertainties is included in Fastenal’s filings with the Securities and Exchange Commission, including its most recent annual and quarterly reports. Each forward-looking statement speaks only as of the date on which such statement is made, and Fastenal undertakes no obligation to update any such statement to reflect events or circumstances arising after such date.

The information contained on the websites referenced in this press release or connected to such websites are not incorporated by reference into this press release and should not be considered a part of this press release.

FAST-G

Taylor Ranta Oborski

Financial Reporting & Regulatory Compliance Manager

507.313.7959

Source: Fastenal Company

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Here’s what’s happening in fastener industry news, acquisitions, scholarship awards and opportunities and upcoming events the week of August 7, 2023.

Watch now on YouTube @FastenerTV: 

Fastener Supply Company, a leading fastener distributor announced the acquisition of General Machinery. The strategic merger deal was finalized on July 31, 2023, marking a significant milestone for both organizations. With this acquisition, Fastener Supply Company further solidifies its position as a dominant player in the fastener industry. The combined strengths of both companies will enhance capabilities, expand product offerings, and create exciting opportunities for growth and innovation. Read more:

Fastener Supply Company to Acquire General Machinery in Strategic Merger Deal

White Cap, distributor of specialty construction supplies and safety products for professional contractors, has entered into a definitive agreement to acquire RENO Hardware and Supply, Inc., a distributor of construction supplies serving commercial, multi-family and residential contractors throughout Southern California. Read more: 

White Cap Signs Definitive Agreement to Acquire RENO Hardware and Supply

Global Industrial hits an eCommerce milestone. CEO Barry Litwin told analysts on their recent earnings call. “Within our ecommerce channel, digital transformation continues as we enhance the product shopping experience and optimize our digital marketing,” “This resulted in improved web sales performance as the quarter progressed, with ecommerce growing to more than 60% of total sales transactions.”

Read more: https://www.digitalcommerce360.com/article/global-industrial-sales/

 Albolt Manufacturing Opens New Facility in Rockford, Illinois. Products produced in the new facility will include specialty hex bolts, sockets, studs, nuts, and pins, with a variety of secondary operations and additional services all focused on producing a limitless variety of specialty fasteners that are manufactured for a specific industry, job, or material. Read more:

Albolt Manufacturing Opens New Facility in Rockford, Illinois

Kimball Midwest continued their centennial celebration with events at their headquarters in Columbus, OH. The Kimball Company was founded in Cleveland, Ohio, in 1923. In 1984, it joined with Midwest Motor Supply, which was founded in Columbus, Ohio, in 1933, forming Kimball Midwest. The company is holding a series of events to honor its 100th anniversary throughout 2023. Notably is a community campaign to celebrate the milestone in which Kimball Midwest will donate $1 million across the country. Each sales region, corporate department and distribution center will receive money for associates to donate to a qualified charity of their choosing. Read more:

Kimball Midwest Centennial Celebration Continues at Headquarters in Columbus, Ohio

Eurolink Fastener Supply Service RECEIVES MANUFACTURING OUTLOOK’s ‘TOP INDUSTRIAL FASTENERS SERVICES PROVIDER AWARD’ for 2023. Eurolink, a trusted U.S. importer of hard-to-find metric fasteners has 23 years of industry experience. Eurolink provides hard-to-find metric fasteners to North American industrial distributors. Read more:

Eurolink FSS Receives Manufacturing Outlook ‘Top 10 Industrial Fasteners Services Provider Award’

Congratulations to the 2023 Pacific West Fastener Associations’  Fastener Training Week Scholarship Ashley Beza, sales representative at Industrial Threaded Products.

Congratulations to Jeannine Chabatoni Ciabottoni, of AFC Industries the FIRST recipient of the Women in the Fastener Industry’s Maryann Marzocchi Scholarship. This scholarship will go towards tuition for Jeannine‘s daughter, Brooke, at Clemson University.

Jeannine has been working in the fastener industry for 17 years and was inspired by her Father, who was in the fastener industry for 45 years.

SPONSOR: Registration is open for the 2023 International Fastener Expo at Mandalay Bay in Las Vegas from October 9-11, 2023. Step into the future of fasteners, machinery, and industrial products at the most anticipated event of the year! The International Fastener Expo (IFE) is the ultimate business-to-business expo for all things fasteners…As the largest fastener event in North America for more than 40 years, IFE caters to every level of the supply chain, making it the go-to event for fastener industry professionals. Attendees can participate in special events like the IFE Annual Golf Tournament, the Welcome Reception Party, Keynote Speaker, informative sessions on the show floor. And the prestigious Fastener’s Hall of Fame & Young Fastener Professional Award Ceremony, where industry excellence is celebrated.

Register now Use promo code FND50 to save $50.00 on registration. Go to FastenerShows.com

ATTN: Women in the Fastener Industry! WIFI honors the memory of Edith Cameron, a pioneer in the fastener industry for 55 years with a scholarship to attend the International Fastener Expo in Las Vegas this October. Submission deadline for the applications is this FRIDAY!! August 11, 2023. Go to https://www.fastenerwomen.com/scholarships for more info.

The MWFA Is accepting applications for their 2023 Education Scholarships. This is a great opportunity you won’t want to miss out on! If you qualify, you could receive significant financial support to pursue your educational dreams. Multiple scholarships will be awarded, with a minimum award of $1,500.

The scholarships will be awarded at the November MWFA meeting. The application deadline is September 1st. For details and application go to https://mwfa.net/

DOWNLOAD MWFA SCHOLARSHIP APPLICATION: https://www.mwfa.net/pdf/scholarship-application-new.pdf

Wurth Additive Announced that their “3D Printers in the Wild” tour will begin at their new home base in Greenwood, IN. You’re invited to join them on August 9th, 2023, from 3:00 to 6:00 PM. Their mission is to demystify industrial 3D printing. Attendees will discover various types of 3D Printers and explore different materials from filament, and composite materials, to resin printers, and metal powder-based systems and examine Digital Inventory solutions and their operational benefits. To get all the upcoming tour dates visit: https://wurthadditive.com/

Sign-up form: https://www.linkedin.com/events/3dprintersinthewildtour-greenwo7087115699566845955/comments/

The Mid-West Fastener Association’s FSTNR Week will take place in Chicago August 20-24, 2023!

Members and attendees will experience:

• A Bed Build event at Abbott Interfast to support the Sleep in Heavenly Peace organization
• MWFA Member Plant Tours
• Print Reading Seminar
• 41^st MWFA Fastener Show
• Retro 80’s Fastener Bash
• MWFA 70^TH Golf Outing & Mixer.
• For all the details and to register go to www.mwfa.net

Registration form: https://mwfa.net/pdf/2023/exhibitors.pdf

The Fastener Training Institute’s Fastener Training Week Chicago is SOLD OUT!  The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week — five intensive days of education and plant tours as part of the acclaimed FTI Certified Fastener Specialist™ (CFS) advanced technical training program. After completing this invaluable industry training in a small group environment and passing a final exam, attendees are eligible for the CFS designation.

If you missed registering for Fastener Training Week in Chicago, you can register for the next Fastener Training Week in Los Angeles December 4-8. 

For more info go to: https://fastenertrainingevents.com/los-angeles-2023.htm

SPONSOR: Join the Fastener Training Institute for an all-day training program on Monday, October 9^th, at the International Fastener Expo! Fastener Fundamentals, The Nuts and Bolts for Fastener Professionals, will offer the best of the Fastener Basics Training and Certified Fastener Specialist™ Training programs. The one-day class will bring the basics of fasteners and beyond to industry professionals. Take advantage of early bird pricing through October 7, 2023. Register now: https://fastenershows.com/fti-class/

SPONSOR: Tee off with fastener industry leaders and fellow enthusiasts at the highly anticipated annual International Fastener Expo Golf Tournament. This premier event provides an excellent opportunity to network, build relationships, and have a fantastic time on the greens. Whether you’re a seasoned golfer or just starting, this tournament promises a day of camaraderie, friendly competition, and unforgettable memories. Mark your calendars and practice your swing because this is an event you won’t want to miss! The tournament will take place on Monday, October 9^th at the Bali Hai Golf Club. The IFE Golf Tournament presents an array of sponsorship opportunities designed to put your brand at the forefront. By sponsoring different aspects of the tournament, you can ensure maximum visibility to your target audience. Go to FastenerShows.com for registration and sponsorship opportunities!

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 stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our feed @FastenerNews at X.com the new twitter rebrand, on LinkedIn in the Fastener News Group and @FastenerNews at Threads!

 If you would like to share your company’s news or events contact me, lisa@fastenernewsdesk.com.  Thanks for tuning in to this week’s episode of ‘IN THE NEWS’ with Fastener News Desk.

Until next week, be well and keep it fastenating.

DYK! We have 4 million manufacturing jobs to fill by 2030! Let’s work together and inspire the next generation of manufacturers by hosting a #MFGDay23 event! So Save the Date: Friday, October 6^th for Manufacturing Day 2023. Celebrated nationally on the first Friday in October and throughout the month. MFG Day is manufacturing’s biggest annual opportunity to inspire the next generation, positively shift perceptions about our industry, and build the foundation for the manufacturing workforce of the future. Resources and toolkits available: https://mfgday.com/resources/

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,  /PRNewswire/ — White Cap L.P. (“White Cap”), a distributor of specialty construction supplies and safety products for professional contractors, has entered into a definitive agreement to acquire RENO Hardware and Supply, Inc., a distributor of construction supplies serving commercial, multi-family and residential contractors throughout Southern California.

Upon the completion of the transaction, RENO Hardware and Supply’s three locations in Riverside, Burbank, and Signal Hill, California will become part of the White Cap suite of brands in its Southwest region.

“We look forward to adding more talented associates to our team in Southern California, where White Cap got its start nearly five decades ago,” said John Stegeman, CEO of White Cap. “The RENO Hardware and Supply team’s expertise and wide selection of products will allow us to serve our customers with even more exceptional service in both the residential and non-residential markets.”

“We are proud to join the White Cap family and their suite of brands,” said Michael Wootten, owner of RENO Hardware and Supply. “Together we will create synergies that benefit all of our customers, our team members and the Southern California construction industry.”

For more than 50 years, RENO Hardware and Supply has carried a vast, high-quality inventory of tools, hardware and supplies for projects ranging from the smallest remodel to multi-story buildings to large commercial developments, serving customers across all of Southern California.

About White Cap 

White Cap and its affiliates serve as a one-stop shop providing concrete accessories and chemicals, tools and equipment, building materials and fasteners, erosion and waterproofing products, and safety products to professional contractors by meeting their distinct and customized supply needs in non-residential, infrastructure, and residential end markets. White Cap is comprised of multiple brands in the U.S. and the Brafasco, Brock White, and NCA brands in Canada. White Cap operates approximately 470 branches across North America with more than 9,500 employees supporting approximately 200,000 customers. For more information, visit about.whitecap.com.

SOURCE: White Cap Supply Holdings LLC

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The company is holding a series of events to honor its 100th anniversary throughout 2023. Notable among them is a community campaign to celebrate the milestone in which Kimball Midwest will donate $1 million across the country. Each sales region, corporate department and distribution center will receive money for associates to donate to a qualified charity of their choosing.

The company’s Columbus Distribution Center associates selected the Columbus Dream Center for their local charitable contribution as part of the community campaign.

On July 22, Kimball Midwest’s Columbus associates and their family members gathered at the Columbus Zoo and Aquarium to celebrate the company’s centennial and spend time together.

“This event brought back a lot of memories for us,” Chief Executive Office Pat McCurdy said. “Having associates and their family members together for a picnic-style lunch and enjoying the Columbus Zoo together on a beautiful summer day was a small way of expressing our gratitude for our associates, our customers and communities that have supported our growth for the last 100 years.”

The Kimball Company was founded in Cleveland, Ohio, in 1923. In 1984, it joined with Midwest Motor Supply, which had been founded in Columbus, Ohio, in 1933, forming Kimball Midwest.

From its roots as a regional automotive supplier, the company has experienced consistent growth, with sales going from $1 million in 1983 to more than $400 million in 2022.

Its presence has spread from Ohio to every corner of the contiguous United States. In 2022, Kimball Midwest opened its fifth full-service distribution center in Newtown, Connecticut, joining existing locations in Dallas, Texas; Sparks, Nevada; and Savannah, Georgia, as well as the corporate headquarters in Columbus, Ohio.

About Kimball Midwest

Kimball Midwest is a family-owned national distributor of maintenance, repair and operations (MRO) products that has been providing superior products and superior service since 1923. The company services customers across the nation from its corporate office and distribution center in Columbus, Ohio, and distribution centers strategically located in Dallas, Texas; Newtown, Connecticut; Reno, Nevada; and Savannah, Georgia.

Source: Kimball Midwest

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