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Here’s what’s happening in fastener industry news, The 2023 International Fastener Expo Best Booth Award Winner Announcement and upcoming events in the news on the 23^rd day of October 2023.

VIDEO: (10:05)

 Fastener News Desk Announced the Winners of the 2023 Best Booth Awards from the International Fastener Expo! Stay tuned for featured content of the winning booths, the brilliant minds behind them, the groundbreaking creativity, innovations, and customer experiences that secured their victory. Find out how these exceptional teams and booths have risen above the rest. Please join us in congratulating all the Best Booth Award winners who have left an indelible mark on the fastener industry!

Fastenal announced the extension of their NHL Partnership through 2027 and new designation as the Official Supply Chain Partner of the NHL! The renewed partnership will hold high expectations for both brands globally. Read more: 

Fastenal and the National Hockey League Announce Multiyear Global Partnership Extension

MPE Partners, Morgenthaler Private Equity announced an investment in Mid-States Bolt & Screw Co. a value-added distributor of fasteners and MRO products serving a diverse range of end markets. MPE’s investment positions Mid-States for accelerated growth while supporting the Company as an industry leader, an employer of choice, and a strategic partner for its customers. Read more: 

MPE Partners Announces Investment in Mid-States Bolt & Screw Co.

Nucor Steel broke ground on their newest sheet mill in Apple Grove, West Virginia! Nucor Steel West Virginia is the largest single investment in Nucor’s history and along with being the most technologically advanced, will have the lowest carbon footprint of any sheet mill in the world. The $3 billion project will bring 800 well-paying manufacturing jobs to the region as well as countless indirect jobs.

 Listen Up ThreadHeads and FasteNerds Fully Threaded Radion Episode 193 – Haul of Fame is LIVE! Join hosts Eric Dudas & Brian Musker ‘recent IFE Fastner Hall of Fame Inductees and the industry’s favorite podcasters with guests:

• Rosa Hearn of BBI & Matt Boyd of Parker Fasteners
• Eurolink CEO Craig Penland
• Fastener Training Minute: Carmen Vertullo
• BONUS CAMEO: Marty Nolan
• Brian and Eric reflect on Vegas and all the help they’ve had along the way.

Tune in: https://www.fullythreaded.com/

The National Association of Manufacturers’ Announced their Newest Board Member. Tamer Abuaita — Chief Supply Chain Officer of Stanley Black & Decker was elected to the Board of Directors of the National Association of Manufacturers (NAM). As a board member, he’ll advocate for manufacturing policies, support training programs, and collaborate on innovative manufacturing practices with other leaders. Read more: https://www.stanleyblackanddecker.com/about/leadership/tamer-abuaita

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/

The National Fastener Distributors Association Executive Summit will take place this week, beginning Wed Oct 25 -Friday the 27 in Scottsdale, AZ. This year’s NFDA Executive Summit will provide attendees with context, perspective, real-world analysis, and tools to lead your organization in these times of great change. For more information go to https://www.nfda-fastener.org/

In today’s competitive market standing out from the crowd is crucial for sales success. Join the Midwest Fastener Association on Thursday, November 2^nd 8:30 am – 4:30 pm. for The Power of Value-Added Selling featuring professional, speaker, sales trainer, and author Paul Reilly. Value-Added Selling is a game-changing strategy that allows you to outsell the competition while maintaining profitability. Register today at https://mwfa.net/

On November 2nd, The Mid-West Fastener association invites you to join them in celebrating the remarkable achievements of the MWFA 2023 Hall of Fame Inductees and applaud the accomplishments of the MWFA 2023 Scholarship winners. The event also provides an opportunity for you to cast your vote for the election of the MWFA Board of Directors.

The guest speaker for the occasion will be none other than Dirk Beveridge, promising attendees an inspiring and insightful experience. To register and get more info go to: Event links: https://www.mwfa.net/member/events/

Seminar link: https://www.mwfa.net/member/event/value-added-selling-seminar/

Dinner link: https://www.mwfa.net/member/events/

 Grow from novice to knowledgeable with Fastener Training Institutes Fastener Basics training. Learn the basics of fastener parts and increase your fastener knowledge advantage! The all-day training session is geared for individuals new to the fastener industry and those who need to know more about the products they sell. Fastener Basics Training is scheduled for:

Date: Thursday, November 16, 2023

Time: 8:30am to 4:00pm

Location: Union City, CA

Instructors: Kevin Chavis, Regional Manager, Star Stainless David Palmquist, Sales, Desert Distribution

Register: https://fastenertrainingevents.com/fastener-basics.htm

Fastener Training Week will be held in Los Angeles, CA. December 4 – December 8, 2023, 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. Fastener Training Week in Los Angeles, CA is hosted by the Pacific-West Fastener Association. Register now: https://fastenertrainingevents.com/los-angeles-2023.htm

The stories featured in this week’s episode of IN THE NEWS can be found in our (X) feed @FastenerNews and on LinkedIn in the Fastener News Group!

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

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

• • Subscribe to receive our weekly newsletter:
  • Join the LinkedIn Fastener News Group:
  • Join the LinkedIn Fastener News Desk page:

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2023 International Fastener Expo: A Year of Unprecedented Success!

IN THE NEWS with Fastener News Desk the Week of October 16, 2023

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LAS VEGAS, NV – October 16, 2023

The 2023 International Fastener Expo, the premier gathering for fastener professionals, recently concluded its annual event with resounding success. This year’s event, held from October 9 – 11, at Mandalay Bay in Las Vegas, NV brought together over 4,300 industry exhibitors and attendees from around the world. The event featured a wide range of activities, including the annual Golf Tournament, Welcome Reception Party, bustling expo floor, diverse educational sessions, and award ceremony, all designed to facilitate networking and knowledge sharing within the fastener industry.

The 2023 International Fastener Expo kicked off with an unforgettable Golf Tournament at the scenic Bali Hai Golf Club. Participants, 145 players across 37 teams, enjoyed a day of friendly competition, networking, and views of the Las Vegas Strip. The tournament fostered camaraderie among industry professionals, setting the tone for the productive days to come. Congratulations to the winners of the 2023 IFE Golf Tournament:

• First Place: Brandon Chapman, Jesse Schaefer, Jason Klapowich, Larry Briffett – Fastening House Inc.
• Second Place: Michael Morrissey, Chris Berner, Dan Finucan, Kent Shutey – American Ring
• Third Place: Jack Dobek, Dennis Doyle, Ryan Cooper, Eric Mason – B&D Cold Headed Products
• Longest Drive Men: Chris Berner – American Ring
• Longest Drive Women: Erin Waidelich – Aircraft Fasteners Int’l
• Closest to the Pin Men: Steve Delis – Fastener Tool
• Closest to the Pin Women: Erin Waidelich – Aircraft Fasteners Int’l

The Welcome Reception at Mandalay Bay’s Daylight Pool, held on the eve of the expo floor opening, brought over 1,000 fastener professionals out for a night of great networking, drinks and dancing, and some warm Las Vegas weather! Poolside cabanas housed gatherings of industry associations, Hall of Fame and Young Fastener Professional of the Year inductees, and the always popular cigar rolling.

We would like to thank our Welcome Reception sponsors B&D Cold Headed Products, Continental Aero, and Parker Fasteners.

The expo floor was a hive of activity, featuring over 100 first time exhibitors and 700 exhibitors in total showcasing the latest products, services, and technologies in the fastener industry. Attendees had the opportunity to explore and see first-hand the cutting-edge solutions available, engage with suppliers, and discover new market opportunities. The energetic atmosphere reflected the enthusiasm and forward-thinking that defines the fastener industry.

One of the standout features of the 2023 International Fastener Expo was its extensive educational program. The Expo Hall opened its doors early for a keynote presentation led by Jake Hall, the Manufacturing Millennial, that dove into the future of manufacturing, touching on topics like automation and the new workforce. Industry experts led informative sessions, a full-day training from FTI, and fireside chats on a wide array of subject matter, including innovation in fastener technology, industry trends, and best practices. The wide range of educational opportunities ensured that attendees could customize their experience to meet their specific needs and interests.

Keeping to tradition, IFE 2023 featured its Hall of Fame and Young Fastener Professional of the Year award ceremony on Tuesday afternoon. Inductees were celebrated and cheered on by their peers, colleagues, and family! Congratulations to the 2023 award recipients:

2023 Hall of Fame

• Bob Baer, Abbott Interfast
• Eric Dudas and Brian Musker, Fasteners Clearing House and Fully Threaded Radio
• George Hunt III, Brighton-Best International

2023 Young Fastener Professionals of the Year

• Mallory Cravens Nichols, Advance Components
• Mike Robinson, Lindfast Solutions Group

Commenting on the success of the event, IFE Show Director, Morgan Wilson said, “I’m excited to share a recap of remarkable achievement for IFE 2023 – the show was one of the largest in the past 5 years, proving the true testament of face-to-face networking within our fastener community, our special events left unforgettable memories, our education programs inspired and empowered, and our full expo floor was a marketplace of innovation and opportunity from around the world. Together, we created an impressive experience that set new standards in the industry.”

The 2023 International Fastener Expo achieved its goal of providing a platform for professionals in the fastener industry to connect, learn, and collaborate. For more information and updates on next year’s event, please visit www.fastenershows.com

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Fastener News Desk Reveals IFE 2023 Best Booth Award Winners!

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Are You Ready to Celebrate Excellence from IFE 2023!

Fastener News Desk is thrilled to bring you one of the most anticipated announcements of the year – the winners of the 2023 Best Booth Awards at the International Fastener Expo! Stay tuned for a spectacular showcase of the winning booths, the brilliant minds behind them, and the groundbreaking creativity, innovations and customer experiences that secured their victory.

From cutting-edge technology to revolutionary products, discover why these booths stole the spotlight at IFE 2023. Find out how these exceptional teams and booths have risen above the rest.

Join us in congratulating all the Best Booth Award winners who have left an indelible mark on the fastener industry! 

Congratulations Best Booth Award Winners from the fabulous 2023 International Fastener Expo! 

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Fastener News Desk’s Best Booth Awards from IFE 2022 Announced

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,  /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced today an investment in Mid-States Bolt & Screw Co. (“Mid-States” or the “Company”), a value-added distributor of fasteners and MRO products serving a diverse range of end markets. MPE’s investment positions Mid-States for accelerated growth while supporting the Company as an industry leader, an employer of choice, and a strategic partner for its customers.

MPE partnered in the transaction with the Somers family, who founded Mid-States more than 50 years ago. Scott Somers, President of Mid-States, said, “On behalf of my family, we are excited to partner with MPE. Since my father’s founding of the business over 50 years ago, Mid-States has continued to drive success through our dedication to excellent customer service. We are excited to work with the MPE team to maintain this tradition while pursuing the Company’s next phase of growth.”

Graham Schena, Partner at MPE, said, “We are looking forward to partnering with the Somers family and the rest of the Mid-States team to accelerate the Company’s growth through continued customer service and product availability, as well as organic and inorganic geographic expansion.” Nick Stender, Principal at MPE, added, “The Somers family has built Mid-States into a world-class distributor over the past several decades, and has exciting growth planned. We look forward to helping Mid-States accelerate its growth while maintaining the culture and tradition of excellence that has made the Company so successful to date.”

About Mid-StatesFounded in 1973, with seven branches throughout Michigan and additional branches in OH, WI, and NC, Mid-States is a value-added distributor of fasteners and MRO products serving a diverse range of end markets. In addition to its ten branches, the Company operates numerous cribs co-located in customer facilities throughout the U.S. Within its fasteners segment, the Company sells hex caps, bolts, screws, socket products, and a wide range of other fasteners. Within MRO, the Company sells safety, janitorial, electrical, material handling, and various other MRO and related products. Mid-States also provides several valued-added services including kitting, vendor-managed inventory, vending machine management, and application engineering.  For more information, please visit www.midstatesbolt.com.

About MPE PartnersMPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.

SOURCE MPE Partners

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Here’s what’s happening in fastener industry news, IFE 2023 Wrap-Up and upcoming events in the news the week of October 16th, 2023.

VIDEO: (13:24)

Fastenal Company has appointed Anthony P. Broersma as the Executive Vice President-Operations effective on October 11, 2023. In his new role, he will oversee supply chain, compliance, supplier development, content, property management, eCommerce, supply to fulfillment distribution, and logistics operations of the Company. Read more:

Fastenal Names New Executive VP of Operations

 Fastenal beats profit estimates on strong demand for onsite products. Fastenal’s digital sales increased by 18% year over year to just over $1 billion. Total sales increased 2.4% to $1.85 billion. Fasteners, one of the core segments of the wholesale distributor, saw its sales fall to 32.1% of the company’s total sales, compared with 34.1% in the year earlier.

Fastenal added in its Q3 press release: “We believe our opportunity to grow our business will be enhanced through the continued development and expansion of our digital capabilities.” Read more:

Fastenal Company Reports 2023 Third Quarter Earnings

 Fastener News Desk news series FASTENATING “Celebrating Your Success is featuring Norm Fasteners Celebrating 50 Years & Three Generations. In 1973, their journey started with a single double-stroke machine by founder Nedim UYSAL.

Today the journey has turned into a vision that competes with the world, develops without compromising on quality, produces with technology, and is full of success stories and awards. Norm Holdings creates value for their clients by providing full in-house production support with R&D, engineering, surface treatment, annealing, cold forming, molding, heat treatment, machinery and automation, coating, sorting, packaging and logistics services and fully integrated production facilities. Read more:

Norm Fasteners Celebrating 50 Years & Three Generations

 BlackHawk Industrial, a market-leading distributor of metalworking and other mission-critical industrial products, announced today the integration of Big Red Fasteners into its fastener portfolio significantly bolstering the company’s fastener division. The game-changing integration marks an exciting milestone in the company’s ongoing fastener expansion effort and makes BlackHawk’s Fastener Division one of the most comprehensive and robust in the industry. Read more:

BLACKHAWK ANNOUNCES GAME-CHANGING FASTENER INTEGRATION

That’s a wrap on the 2023 International Fastener Expo that took place in Las Vegas last week. The expo was a great success with record-setting attendance and exhibitors from around the globe. The IFE Annual golfing outing was sold out in advance and the industry came out in record numbers to the IFE welcome reception party. Keynote speaker jake hall was well received by the fastener industry and got the audience ready for two busy days on the expo floor. Stay tuned for more coverage from IFE 2023 including the Best Booth Awards Announcement and more!

There were a couple of fastener company announcements to report on that happened at IFE 2023:

 Brighton Best International and Parker Fasteners made a BIG announcement at the International Fastener expo in Vegas! Fastener News Desk joined Matthew Boyd and Rosa E Hearn at the International Fastener Expo in Vegas to get all the details about the partnership to manufacture and distribute socket cap screw products made in the USA.

Get all the details and make sure to scan the QR code to take a short survey for a chance to win some cool swag! Listen now: https://youtu.be/lVKomfQ5D58

 Survey link: https://www.surveymonkey.com/r/BBI_PARKER Survey deadline: October 20, 2023

Brighton Best and Parker Fasteners Announce Manufacturing Partnership at IFE 2023 [Survey]

Optimas Solutions, a global industrial fastener manufacturer, distributor and service provider made an announcement at the International Fastener Expo.  Optimas will open a cold form manufacturing plant in Monterrey, Mexico in the second half of 2024.

Optimas Solutions is one of only a few companies with in-house cold forming in the US, UK, and now, MX, which complements global distribution for fasteners and C-Class parts procurement.

Optimas’ World-Class Manufacturing Expands Capacity to Near-Shore Production in North America

 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/

 Würth Additive Group, in partnership with Marine Fasteners are hosting two 3D Demo Days events in Florida:

 Orlando: 17th of October

Fort Lauderdale: 19th of October

Both Würth Additive Group and Marine Fasteners collaboratively serve manufacturers in markets such as food processing, hydro-industrial, and solar, offering industry-leading physical and digital inventory solutions, primarily focused on specialty fastening materials. The opportunities presented by additive manufacturing are vast and definitely worth exploring. Join the 3D Demo Day tour and dive into real use cases.

Sign up here, and please share the invite! https://lnkd.in/e9_e86Cq

Get ready to unlock the full potential of your professional growth at ISA’s Fall Summit October 18 -20^th in Orlando, FL! Prepare for an unforgettable 3-day experience where education blends with excitement and networking evolves into lasting connections. The agendas are designed to captivate and empower you, featuring a lineup of engaging sessions, interactive breakouts, and fun networking activities. Attend Fall Summit and leave energized, motivated, and equipped with the knowledge and tools to take things to the next level! Go to isapartners.org for more info.

The National Fastener Distributors Association Executive Summit will take place Wed Oct 25 -27 in Scottsdale, AZ. This year’s NFDA Executive Summit will provide you with context, perspective, real-world analysis, and tools to lead your organization in these times of great change. For more information go to https://www.nfda-fastener.org/

In today’s competitive market standing out from the crowd is crucial for sales success. Join the Midwest Fastener Association on Thursday, November 2^nd 8:30 am – 4:30 pm. for The Power of Value-Added Selling featuring professional, speaker, sales trainer, and author Paul Reilly. Value-Added Selling is a game-changing strategy that allows you to outsell the competition while maintaining profitability. Register today at MWFA.net

Grow from novice to knowledgeable with Fastener Training Institutes Fastener Basics training. Learn the basics of fastener parts and increase your fastener knowledge advantage! The all-day training session is geared for individuals new to the fastener industry and those who need to know more about the products they sell. Fastener Basics Training is scheduled for:

Date: Thursday, November 16, 2023 | Time: 8:30am to 4:00pm | Location: Union City, CA

Instructors: Kevin Chavis, Regional Manager, Star Stainless David Palmquist, Sales, Desert Distribution

Register: https://fastenertrainingevents.com/fastener-basics.htm

Fastener Training Week will be held in Los Angeles, CA. December 4 – December 8, 2023 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. Fastener Training Week in Los Angeles, CA is hosted by the Pacific-West Fastener Association.

 Register now: https://fastenertrainingevents.com/los-angeles-2023.htm

The stories featured in this week’s episode of IN THE NEWS can be found in our (X) feed @FastenerNews and on LinkedIn in the Fastener News Group!

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

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

• • Subscribe to receive our weekly newsletter:
  • Join the LinkedIn Fastener News Group:
  • Join the LinkedIn Fastener News Desk page:

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FOR IMMEDIATE RELEASE                                                                           

Tuesday, October 10, 2023)                                                     

Optimas Announces Plan to Develop Fastener Manufacturing Facility in Monterrey Mexico to Support Regional Sourcing Strategies That Minimize Supply Chain Risk

Wood Dale, IL – October 10, 2023 – Optimas Solutions, a global industrial manufacturer/distributor and service provider, announced it will open a cold form manufacturing plant in Monterrey, Mexico in the second half of 2024.

The Mexico production center will complement world-class fastener manufacturing facilities in Wood Dale, IL, and Droitwich Spa in the United Kingdom and continue the company’s near-shoring efforts to minimize supply chain risk.

“More than ever, resource availability has given way to accessibility in the form of regionalization,” said Daniel Harms, CEO of Americas. “Our expanding localization strategy enables us to be more agile with our manufacturing and sourcing capabilities for industrial customers and suppliers. “

“We took great care to design our Mexico facility to mirror our capabilities at our manufacturing operations in Wood Dale so they can effectively play off each other,” said Ricardo Alonzo Rodríguez, vice president and general manager of Optimas in México. “This ensures customers and suppliers have access to the same engineering, tooling, manufacturing and quality processes regardless of where we produce the fasteners”.

Optimas Solutions is one of only a few companies with in-house cold forming in the US, UK, and now, MX, which complements global distribution for fasteners and C-Class parts procurement. By working with a full-service distributor that is also a manufacturer, industrial producers can take advantage of multiple procurement paths and be supported by automated replenishment services, predictive analytics, engineering creativity, a certified quality management system and existing carrier relationships that ensure reliable delivery.

“The ability to dual source adds significant strength to a customer’s procurement strategies because you can combine the breadth and depth of sourcing with the ability to manufacture more complex parts locally,” said Harms. “With fluctuations in demand occurring at an ever-increasing rate, procurement specialists depend on business partners that are flexible to meet production requirements.” 

About Optimas Solutions

Optimas is the leading global industrial distributor and service provider specializing in fastening and supply chain solutions for manufacturers seeking to improve efficiency and profitability.

Visit optimas.com 

CONTACT:  Randolph Pitzer | rpitzer@pitzerrelations.com 

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10/6/23 | BLACKHAWK TEAM

TULSA, OK (October 6, 2023) – BlackHawk Industrial, a market-leading distributor of metalworking and other mission-critical industrial products, announced today the integration of Big Red Fasteners into its fastener portfolio significantly bolstering the company’s fastener division.

The game-changing integration marks an exciting milestone in the company’s ongoing fastener expansion effort and makes BlackHawk’s Fastener Division one of the most comprehensive and robust in the industry.

John Mark, CEO of BlackHawk Industrial said, “We are excited to expand the category coverage of our fastener division, deliver value that is unprecedented, and continually sharpen our blade to be relevant to our customers and the industry. Our mission is to be the clear number one choice for manufacturing customers and our commitment to meeting the diverse needs of our customers is unwavering.”

With this move, BlackHawk reaffirms its dedication to providing the highest quality fastener products and supply chain services to its customers and supporting businesses in various industries across North America. Customers will experience enhanced operational visibility, notice a greater level of inventory optimization, and see quicker response times.

Keith Shope, General Manager of BlackHawk’s Fasteners Division said, “Our unique capabilities and services allow us to further separate ourselves from competitors in the fastener industry and harness our full potential as a full line fastener distributor. The team’s industry and product knowledge round out our product and service assortment enabling greater depth as an industrial distributor of mission critical SKU’s. We look forward to the promising future as we continue our fastener integration initiative.”

BlackHawk acquired Big Red Fasteners in 2022 as part of its long-term growth initiative. Today’s change is yet another step forward in the company’s commitment to offer fasteners as a core product line to both existing and new customers.

As the company continues to expand in the months and years ahead, it is actively seeking opportunities to acquire new partners and integrate them into its industry-leading operating system. Interested parties should contact the acquisitions team at acquisitions@BlackHawkid.com.

BlackHawk distinguishes itself as the number one choice for industrial manufacturers who need technical service and production savings and is an Industrial Distributor with locations across the U.S., Mexico, United Kingdom, and the Philippines.

Known as the “across the production floor” partner, BlackHawk delivers value through product and supply chain performance that lowers the total cost of production and markets more than three million products from the industry’s top brands with a heavy emphasis on metal-working products.

About BlackHawk Industrial

BlackHawk Industrial is a leading industrial distributor, focused on metalworking such as carbide cutting tools, abrasives and saw blades. The Company provides a full line of MRO, industrial fasteners, and packaging products. BlackHawk has the expertise and capability to provide custom industrial vending solutions and creative design, build, and supply chain solutions. The highly technical sales staff strives to deliver world-class service and cost savings across the customer’s production floor.

For more information about BlackHawk Industrial visit www.BHID.com.

SOURCE: BlackHawk Industrial

Media Contacts

BlackHawk Industrial

1-855-610-1001

News@BlackHawkid.com

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The Fastener Distributor Index (FDI) survey for September, 2023 ticked downward slightly last month, dipping to 48.5 after climbing to 50.0 in August, seasonally adjusted.

The Forward Looking Indicator (FLI) also softened, dropping to 44.8 after reading 45.9 the previous month.

Key Takeaway:

The seasonally adjusted Fastener Distributor Index (FDI) modestly retreated in September to a sub-50 reading at 48.5 after briefly reaching a neutral 50.0 in August. While August may have temporarily benefited from some pent-up demand following summer vacations, September returned to the more sluggish pace of activity seen throughout most of 2023. The Forward-Looking Indicator (FLI) was also a tick lower m/m at 44.8 compared to 45.9 last month. Overall, results suggested continued softness driven by slowing customer orders and a hesitancy among customers to stock heavily.

Key Points:

FDI back below 50. After seeing substantial improvement and a return to a neutral 50 reading in August, the seasonally adjusted September FDI (48.5) softened a bit m/m and returned to contractionary territory. Looking at the overall components of the FDI, three of the four (sales, employment, and supplier deliveries) weakened m/m, while only customer inventories improved. Respondents report a hesitation from many customers to stock products at appropriate levels: “Customers still refuse to stock anything and then get mad when we don’t have enough to fill their orders completely. Nobody wants to place a blanket order or even a stock and release. Too much caution on their part and yet it ends up being our fault.” Slowing orders in customers’ books of business and extended supplier lead times were also said to be drivers of weakness. This drove the seasonally adjusted sales index to deteriorate to 44.9 from last month’s 48.8. A mere 16% of respondents indicated sales were above seasonal expectations compared to 37% last month. An equal number of respondents said sales were in line with expectations or below expectations (both 42%).

FLI remains below 50 and slightly weaker vs. August. The FLI also saw a slight deceleration, coming in at 44.8 vs. 45.9 last month. With the index remaining well below 50 and decelerating further vs. last month, additional softening could be expected in the near term. A softer employment reading and heavier respondent and customer inventory levels were the primary drags this month, while the six-month outlook was relatively unchanged. On the outlook specifically, 29% of respondents predicted higher activity levels six months from now vs. today compared to 23% last month. The percentage anticipating similar activity was slightly lower at 45% compared to 57%, while the percentage expecting softer activity increased to 26% from 20%. Altogether, the six-month outlook was essentially unchanged m/m at 51.6 vs. 51.4. Mixed signals reign. Conflicting broader economic signals have respondents uncertain but still somewhat cautious on balance: “The economic outlook from industry resources are conflicting, but [we] see business normalizing at a level far less than [the] past couple of years but above pre-pandemic levels.” Customers remain hesitant as well given declining order patterns in their books of business: “I’ve

been in close contact with my top 10 customers. A majority of them are slow in getting orders right now. They cannot pin-point it exactly but….just my thought [is] everyone is a little concerned about next year’s election and is playing everything pretty close to the vest.” Said another participant, “Continued mixed signals overall. Some customers continue to have strong demand while others are on the sidelines waiting for their customers to get busy again.” Supply chain and labor constraints remain persistent challenges: “Master distributor deliveries are pretty good (Stelfast, BBI, XL, Star etc.). USA Manufactured parts are somewhat concerning….we are getting quotes of eight weeks from the factories, we quote 9-10 weeks (add a little padding) for our customers…..but that delivery turns in to 12-16 weeks. I think that has something to do with getting qualified labor for the people actually doing the cold and hot heading of bolts.” However, not all respondents are forecasting doom and gloom, as some still have optimism: “Sales are good. Profits are steady. Expectations are good [until the] end of year.”

Read Full Report:

FDI_Report_September_2023

Listen to episode #193 of the Fully Threaded Radio podcast for further commentary.

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