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Century Fasteners announces co-founders, George Stieglitz, and Jack Schlegel, have been added to the Smithsonian National Air and Space Museum’s – “Wall of Honor”.

The National Air and Space Museum‘s Wall of Honor is a permanent memorial at the Steven F. Udvar-Hazy Center in Chantilly, VA recognizing those with a passion for flight. 

From the early days in the Brooklyn Navy Shipyard to today with over 500 parts on the world’s most advanced fighter jet and the countless other DoD, NASA and Military programs supported. Their vision and leadership ultimately led to Century contributing to the advancement and innovation in Aerospace and Space technology.

George and Jack have their names, pictures and profiles currently listed on the Smithsonian National Air and Space Museum “Wall of Honor” website and will have their names permanently engraved on Foil #49. 

Wall of Honor Level:

Air and Space Leader

Honored By:

The Employees of Century Fasteners Corp.

We honor Jack Schlegel, Co-Founder of Century Fasteners Corporation. Jack and his partner George Stieglitz founded Century Fasteners Corporation in 1955. Over six decades Century has been serving the Military, Aerospace and Space manufacturing community with vital components. Their contributions have assisted countless programs that have fueled growth, defended our nation and inspired innovation.

Jack Schlegel started his career in the fastener industry in the 1950’s as a machinist with Allmetal Screw Products. In 1955, in Brooklyn, NY, he founded Century Fasteners Corp., with his partner George, as a small manufacturer and distributor of specialty screws. In 1971, Jack and George expanded the company by opening its first branch location outside of New York. That first branch was in Charlotte, NC, and soon thereafter, a second branch opened in Tampa, FL, in 1974. By the mid 1980’s, the company strictly focused on fastener distribution as the company continued to expand with more branches and regional sales offices across the United States, Mexico, Canada and Puerto Rico.

Jack always credited his wife, Stacy, as the inspiration for taking the plunge and starting his own business. The early years are remembered as days of working long hours, delivering the highest quality products, providing excellent customer service and striving to be the best in the business.

We honor Jack who made where we stand today possible. He will forever be remembered for his exceptional qualities of fairness, toughness under fire, business brilliance, and love of family, a “family” that includes his Employees

We honor George Stieglitz, Co-Founder of Century Fasteners Corporation. George and his partner Jack Schlegel founded Century Fasteners in 1955. Over six decades Century has been serving the Military, Aerospace and Space manufacturing community with vital components. Their contributions have assisted countless programs that have fueled growth, defended our nation and inspired innovation.

Before co-founding Century, George honorably served our country in the Korean War as an U.S. Army Medic. He was promoted to the rank of Sergeant and earned the following awards: Combat Medic Badge, Korean Service Metal with two Bronze Stars, UN Service Metal and the National Defense Service Metal.

Early on, George helped to refocus the company from manufacturing to distribution. The first branch was in Charlotte, NC, followed closely by Tampa, Fl. and several other locations including offshore warehouses in Puerto Rico and Mexico. In addition, George was instrumental in developing inventory management programs and strong supplier relationships that continued to grow the company. Both Jack and George were both humbled and amazed by the growth of the company and by the quality of people who contributed to its success.

George was an innovator, hero, a gentleman, and his dedication toward his employees, customers and suppliers will forever be the foundation of Century Fasteners Corp.

Names engraved on the Wall of Honor, located at the Steven F. Udvar-Hazy Center in Chantilly, VA, Foil 49

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The Fastener Museum – Opening Spring 2022

Fasteners

By Dirk Beveridge

As the effects of the pandemic rippled across wholesale distribution, it was obvious technology was going to be a fault line – the divider between those who would come out ahead and those who fall behind.

Unfortunately, despite the urgent need to adopt technology, I still hear all the time from distributors that they don’t want to do so until they need to. And even then, many are reluctant.

The industry perpetuates this false narrative that technology is too hard, too expensive and too difficult to maintain with limited manpower. The sheer concept of implementing new tools, even if they benefit the company, seems too daunting to consider.

These thoughts are holding distributors back. Yet we’ve come to believe them simply because we hear them so often.

Whatever reason you have for waiting to invest in technology, it’s time to obliterate it. Throw it out.

The need for digital transformation in distribution is critical. We need to bring appropriate technology into our businesses to remain sustainable, relevant and profitable – to survive and thrive. The past several years of disruption have shown the importance of being agile, and those businesses using technology to aid their efforts have come out on top.

One leader I spoke with said: “The pace of technology continues to accelerate. Companies can choose to try and keep up, or they will be left behind. Those left behind will have lower profits and attract lower talent, perpetuating a self-fulfilling downward spiral.”

It’s a harsh reality, but it’s the truth. There’s a sense of urgency to adopt new technology, to stay ahead of the curve. It all comes down to mindset.

The 4 Technology Mindsets

The Boston Consulting Group found that digital transformation among businesses had been discretionary and self-paced before the pandemic. But the pandemic transformed digital adoption from an “if we have to, we will” into an urgent need. We tested BCG’s findings by asking distributors for their take, and 86% of the distributors we surveyed with agreed.

Acting on this need is not about finances nor time. It’s about mindset and strategy. Whatever the size of your company, you have the means to bring the technology you need into your business. Costs have fallen, and service providers have developed implementation and maintenance plans that enable even the smallest of companies to implement leading-edge technology.

Over years of working and speaking with distributors, I’ve identified four mindsets about technology investments. Your mindset determines how you will approach digital transformation. It also dictates our individual and collective desire to obliterate this false narrative that technology is too hard, costly or complex for distributors.

1. Complacent Thinkers: When a company is reluctant to invest, it’s often because they’re complacent and accepting of the status quo. It’s a mindset of “What isn’t broken doesn’t need to be fixed.” We sell product, and we’re profitable. Our customers seem to keep coming back, so let’s keep everything as it is. These short-term thinkers are averse to risk.
2. Defensive Investors: Many distributors invest in technology reactively. The purpose of investing in technology for these businesses is simply to keep up. They’ll react when necessary to be as good as they need to – today.
3. Strategic Adopters: These distributors are offensive investors. They’re strategic. They understand the need to evolve their business model. They want to understand how they are going to evolve their culture to account for changing demographics and their future employees, customers and suppliers. These folks are always looking for new opportunities, constantly focused on the ever-changing expectations from all their relationships.
4. The Foreverness Group: I define foreverness as someone who is focused on continuing their business…forever. These distributors are setting the stage for the next generation – and the next – right now. As a result, they are building and executing a technology strategy that “future proofs” their business.

It’s easy to rationalize about finances and use the cost or fear of the unknown as a reason not to invest. But if you pause and think critically, you gain a new perspective on the true cost, both financially and operationally, of not embracing the technology you need today to drive market leadership, relevance, profitability and sustainability.

Regardless of where your company is on this journey, moving forward takes the courage to act, commitment to your vision and the willingness to take on some risk. To begin, read my open letter to distributors Shift to Tomorrow, which is a manifesto of sorts encouraging you to own your future.

Next, consider these three areas of focus and initial questions:

1. Vision: What are the first steps we can take to create a vision for how technology will serve our business in the digital age?
2. Business Model: How will technology change the role we will play in the supply chain?
3. Customer Experience: What technologies will change the customer buying experience and requirements?

These three questions are a great start to begin assessing your mindset and readiness to make the necessary moves for your technology-enabled future.

Dirk Beveridge is the founder of UNleashWD, Executive Producer at We Supply America, President of the Beveridge Consulting Group and Champion for the noble calling of distribution for over 36 years. His one-of-a-kind perspective on the future of wholesale distribution has guided his mission to advance the growth, relevance and transformation of the industry, helping distributors thrive.

Learn more about Dirk by visiting WeSupplyAmerica.net.

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2022 We Supply America Tour Launches in May to Keep Telling Distributors’ Stories

IN THE NEWS with Fastener News Desk the Week of April 25th, 2022

Featured, Technology

I’m Lisa Kleinhandler, Editor-in-Chief at Fastener News Desk…

It’s IN THE NEWS the Week of April 25th, 2022

Watch now on our YouTube Channel FastenerTV: (8 min 38 sec.)

In Fastener News…

THE MARCH FASTENER DISTRIBUTOR INDEX (FDI) TICKED UP AGAIN THIS MONTH TO 57.2. Strongly rallying, the Forward-Looking Indicator (FLI) ALSO climbed to 65.4 after sagging to 55.6 the previous month, marking the 22nd consecutive month of positive outlook. The FASTENER DISTRIBUTOR INDEX 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.

Fully Threaded Radio Episode 176…Once You’re In… is LIVE! Tune in with hosts Eric Dudas and Brian Musker. In this episode they talk about the old adage about people not leaving the fastener industry proves true again as reluctant highway pilot Tim “Action” Jackson returns.  Back from an extended RV misadventure to report on the recent Pac-West conference, he sees the industry with the eye of an outsider coming back in.  Likewise, the screw biz was never far from the heart of life-long thread man Don “The Amazing” Shan, as he announces an all-new venture after a brief hiatus. Listen now at FullyThreaded.com

FND would like to welcome and thank our NEW SPONSOR:

The International Fastener Expo the Largest B2B expo of Industrial Fasteners and Tooling & Machinery in North America. Since 1981, the event continues to bring together the manufacturers and master distributors of fasteners, precision formed parts, fastener machinery & tooling and other related products and services with distributors and sales agents in the entire supply and distribution chain. Held annually in Las Vegas, Nevada, USA, the event consists of an all-day conference program presented by endorsing fastener associations. Be sure to save the dates: October 17-19th, 2022. For more info go to FastenerShows.com

 In other Fastener Industry News…

Century Fasteners Corp. Co- Founders, the late George Stieglitz, and Jack Schlegel, have been added to the Smithsonian National Air and Space Museum’s – “Wall of Honor”. From the early days in the Brooklyn Navy Shipyard to today with over 500 parts on the world’s most advanced fighter jet and the countless other DoD, NASA and Military programs supported.  Their vision and leadership ultimately led to Century contributing to the advancement and innovation in Aerospace and Space technology.

George and Jack have their names, pictures and profiles currently listed on the Smithsonian National Air and Space Museum “Wall of Honor” website and will have their names permanently engraved on Foil #49.

In Distribution News…

This next segment is a great opportunity for distributors to elevate their workforce. If you don’t already know the name Dirk Beveridge we encourage you to learn more about Dirk and the We Supply America RV Tour Across America.

Dirk is hitting the road in May to officially launch the 2022 We Supply America Tour to Keep Telling Distributors’ Stories. In a recent press release Dirk explains that “Distribution is an American success story, one conceived from blood, sweat and tears and passed down through generations. This passion lives within the hearts and souls of the people themselves, but rarely gets recognized”. Each day on the tour, Dirk will bring the We Supply America RV to different distributor locations to create a meaningful employee experience that engages and energizes your people around the important work they do, your culture and your values. Many distributors leverage the tour stop in their marketing, recruiting and employee communications to further their mission.

For more info go to WeSupplyAmerica.net

In 3D Printing News…

Würth Additive Group is Hitting the Road Again with their 3D DEMO DAYS Tour!

Join Wurth as they travel across North America to showcase their entire spectrum of 3D printing and digital inventory capabilities. Their next Tour stop is on May 5th in Roanoke, VA.

Check out their tour schedule to see when they’ll be in your area! For more info go to wurthadditive.com

In Upcoming Event News:

Are you ready to become a CFS? That’s a Certified Fastener Specialist!  You won’t want to miss The Fastener Training Institute’s Fastener Training Week coming to the Industrial Fastener Institute in Cleveland! Fastener Training Week begins next Monday, the dates are May 2nd – 6th. For more info go to FastenerTraining.org  Twitter: @FastenerSchool @IFIConnects

🏆 The International Fastener Expo Fastener Hall of Fame recognizes professionals who have made significant and enduring contributions to the #fastener industry. This year marks the 40^th anniversary of the Hall of Fame Awards! Who do you think should be honored with this prestigious award this year? To nominate go to FastenerShows.com. The deadline to submit nominations is July 30th. Twitter: @FastenerShow

The stories we 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!

Fastener News Desk is almost ready for the grand opening of the Fastener Museum! The online museum will feature a collection of industry memorabilia that dates back over the past decades. We welcome your fastener company to share individual digital images of your memorabilia with us to add to the Fastener Museum and help create the largest online collection of fastener related history.

This week’s episode has been sponsored by Product Genius Technology. Enhance your website customer experience with the best view for industrial product search. The past two years have certainly been a digital wake-up call for distributors and manufacturers. B2B buyers’ behaviors have gone full on digital! Digitizing data and product information is key to the beginnings of your business’s digital transformation.  Is your product data ready for eCommerce and a great user experience.

Product Genius Technology’s services include, data cleaning and preparation, consulting, and strategizing. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.

If you would like to share your company’s events, news or sponsor an upcoming episode of IN THE NEWS or would like to add to the Fastener Museum me: lisa@fastenernewsdesk.com.

Thanks for tuning in to this week’s episode of IN THE NEWS with Fastener News Desk.

Until next week, be well, be safe and Keep it Fastenating.

Tags:

#FastenerExpo #FastenerNews #Fasteners #COVID #SupplyChain #Taiwan #distribution #fastenernews #fasteners #distribution #industrial $FAST #fastenernews #fasteners #workforce #training

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IN THE NEWS with Fastener News Desk the Week of April 18th, 2022

Watch now on our YouTube Channel @FastenerTV 

IN THE NEWS with Fastener News Desk the Week of April 11th, 2022

Fastener TV, Fasteners

The Fastenal Company reported daily sales through eCommerce grew 55.6% in the first quarter of 2022.

eCommerce: daily sales rose 55.6% in 1Q22. Large customer oriented EDI was up 56.2%, while web sales were up 53.9%. On the company’s recent first quarter earnings call Fastenal CEO, Dan Florness told analysts “Our ecommerce team hit a milestone”. “In March, we exceeded $100 million in revenue for the first time.”

Revenues attributable to eCommerce represented 16.1% of their total revenues in the first quarter of 2022. Their eCommerce business includes sales made through an electronic data interface (EDI), or other types of technical integrations, and through their web verticals. 

Their digital products and services are comprised of sales through FMI (FASTStock, FASTBin, and FASTVend) plus that proportion of our eCommerce sales that do not represent billings of FMI services (collectively, our Digital Footprint). They believe the data that is created through their digital capabilities enhances product visibility, traceability, and control that reduces risk in operations and creates ordering and fulfillment efficiencies for both themselves and their customers. As a result, they believe their opportunity to grow their business will be enhanced through the continued development and expansion of their digital capabilities. Their Digital Footprint in the first quarter of 2022 represented 47.0% of our sales. They began to provide this figure in the first quarter of 2021, when we reported that our Digital Footprint represented 34.8% of our sales. We subsequently identified a calculation error. Using the same approach to calculating our Digital Footprint as we used starting in the second quarter of 2021, their Digital Footprint represented 39.1% of our sales in the first quarter of 2021.

Growth Driver Performance

During the first quarter of 2022, they signed 106 new Onsite locations (defined as dedicated sales and service provided from within, or in close proximity to, the customer’s facility). They had 1,440 active sites on March 31, 2022, which represented an increase of 12.1% from March 31, 2021. Daily sales through our Onsite locations, excluding sales transferred from branches to new Onsites, grew at a better than 20% rate in the first quarter of 2022 over the first quarter of 2021. This growth is due to improved business activity from our Onsite customers and, to a lesser degree, contributions from the increase in the number of Onsites we operate. It is not unusual for Onsite signings to be relatively strong in first quarters of calendar years. The signings in the first quarter of 2022 represent a record number for any quarter and a substantial improvement on first quarter signings over the prior two years. We believe this reflects normalization of the business environment which is improving access to facilities and decision-makers while reviving customers’ strategic planning around supply chain solutions. We continue to believe the market will support a long-term rate of 375 to 400 annual signings, and this remains our goal for Onsite signings in 2022.

FMI Technology is comprised of our FASTStock℠ (scanned stocking locations), FASTBin℠ (infrared, RFID, and scaled bins), and FASTVend℠ (vending devices) offering. FASTStock’s fulfillment processing technology is not embedded, is relatively less expensive and highly flexible in application, and delivered using our proprietary mobility technology.

FASTBin and FASTVend incorporate highly efficient and powerful embedded data tracking and fulfillment processing technologies. Prior to 2021, they reported exclusively on the signings, installations, and sales of FASTVend. Beginning in the first quarter of 2021, they began disclosing certain statistics around our FMI offering. The first statistic is a weighted FMI® measure which combines the signings and installations of FASTBin and FASTVend in a standardized machine equivalent unit (MEU) based on the expected output of each type of device. They do not include FASTStock in this measurement because scanned stocking locations can take many forms, such as bins, shelves, cabinets, pallets, etc., that cannot be converted into a standardized MEU. The second statistic is revenue through FMI Technology which combines the net sales through FASTStock, FASTBin, and FASTVend. A portion of the growth in net sales experienced by FMI, particularly FASTStock and FASTBin, reflects the migration of products from less efficient non-digital stocking locations to more efficient, digital stocking locations.

Pricing

The overall impact of product pricing on net sales in the first quarter of 2022 was 580 to 610 basis points. This increase reflects pricing actions taken during 2021, particularly in the second half, and the first quarter of 2022. These actions were taken as part of their strategy to mitigate the impact of marketplace inflation for our products, particularly fasteners, and transportation services. During the first quarter of 2022, costs for fuel and transportation services accelerated in their inflationary impact. Fastenal Company will continue to take actions aimed at mitigating the impact of product and transportation cost inflation as the need arises in 2022. The impact of product pricing on net sales in the first quarter of 2021 was 60 to 90 basis points. From a product standpoint, they have three categories: fasteners, safety products, and other products, the latter of which includes eight smaller product categories, such as tools, janitorial supplies, and cutting tools. Fastener daily sales increased 24.6% over the first quarter of 2021, and represented 34.3% of our net sales in the first quarter of 2022; fasteners represented 32.5% of net sales in the first quarter of 2021. Safety product daily sales increased 15.3% over the first quarter of 2021 and represented 21.0% of their net sales in the first quarter of 2022; safety products represented 21.5% of net sales in the first quarter of 2021. Other products daily sales increased 14.8% over the first quarter of 2021 and represented 44.7% of their net sales in the first quarter of 2022; other products represented 46.0% of net sales in the first quarter of 2021.

Investor Presentation:

Fastenal-Q1-2022-Investor-Presentation-4.12-R8_FINAL-(no-footers)

Fastenal Company Reports 2022 First Quarter Earnings Report:

WINONA, Minn., April 13, 2022 (BUSINESS WIRE) Fastenal Company (Nasdaq: FAST), a leader in the wholesale distribution of industrial and construction supplies, today announced its financial results for the quarter ended March 31, 2022. Except for share and per share information, or as otherwise noted below, dollar amounts are stated in millions. Throughout this document, percentage and dollar calculations, which are based on non-rounded dollar values, may not be able to be recalculated using the dollar values included in this document due to the rounding of those dollar values.

Read the full report:

Fastenal Investor Presentation 1Q22

The Fastenal Company History:

When Fastenal opened for business in 1967, we were the smallest of an estimated 10,000 fastener distributors in the U.S. By the mid-1990s we had become the largest, almost entirely through organic growth. As company founder Bob Kierlin later observed, “We had to be doing something different. It wasn’t the product, and it wasn’t how we distributed the product. It was our belief in people.”

Website: Fastenal Company 

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Fastener Press Releases, Fasteners, Press Releases, digital, eCommerce

The Fastener Distributor Index (FDI) ticked up again last month to 57.2 over the February reading of 56.0, seasonally adjusted.

Strongly rallying, the Forward Looking Indicator (FLI) climbed to 65.4 after sagging to 55.6 the previous month, marking the 22nd consecutive month of positive (+50.0) outlook.

Key Takeaway:

The March seasonally adjusted Fastener Distributor Index (FDI) saw a modest m/m improvement at 57.2 on better sales and employment levels. Despite a slightly weaker reading in the supplier deliveries index amid some manufacturing plant shutdowns in Asia and continued port congestion, the FDI improved for the second consecutive month and remained firmly in expansionary territory. Respondent commentary suggested additional acute inflationary pressures are emerging, particularly in stainless steel, but inbound order activity remains consistently strong. The Forward-Looking Indicator (FLI) also improved m/m at 65.4 amid more optimistic six-month sales expectations and an increased hiring pace. Overall, we believe fastener market conditions remained strong in March, with growth increasing at a slightly faster rate than February.

READ THE FULL MARCH 2022 REPORT:

FDI_Report_March_2022

We encourage 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.

Tune in to episode 175 of the Fully Threaded Radio podcast.

Contact:

Eric Dudas

O: 877.332.7836

C: 630.532.2442

www.fastenersclearinghouse.com

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FASTENER DISTRIBUTOR INDEX (FDI) | February 2022

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Fastener Distributor Index

The We Supply America RV is hitting the road again. Will you join us?

By Dirk Beveridge

Distribution is an American success story, one conceived from blood, sweat and tears and passed down through generations. This passion lives within the hearts and souls of the people themselves, but rarely gets recognized.

In Season One of We Supply America, I traveled over 16,599 miles getting to know 34 distributors, their frontline employees and the history of their businesses. Over those several months, distributors thoughtfully shared personal stories of where they’ve been and how they got there, as well as their visions for tomorrow.

These stories fueled my passion to champion the noble calling of distribution.

Now it’s your chance to further our joint mission, paving the way for continued success and reclaiming your rightful seat at the channel table. We’re taking this show on the road for Season Two, and I’m calling on you to join me.

Come share your stories, your challenges and your triumphs and inspire others to lead nobly into what I believe is a bright future.

One of our 34 stops last year was at Dakota Supply Group. Paul Kennedy, the distributor’s CEO, said the tour stop was inspiring to his team. “I don’t think anyone has been able to articulate what we do as distributors as well as you are doing on this tour you are on. I felt that we needed to be a part of it – to be a part of the story you’re telling.  Helping our team understand the important role they fill in contributing to building America, that was great.”

What did we do on last year’s tour?

• We showcased distribution’s people-first culture. It’s your people who truly make the difference. Each person on the team plays an important role not only for the success of the company but for each other’s personal success.
• We celebrated the distribution industry. Distribution isn’t just about selling parts and supplies. It’s about building trust with customers through years of experience, expertise and application-specific knowledge.
• We helped distributors’ teams feel like they were part of ‘Something Bigger.’ When the pandemic struck, distributors were the tip of the spear in helping their customers and communities survive. That essential role continues today.

Some of our new friends thought we were a little “crazy” when we first announced the tour, but they embraced it. “The fact that you would commit your entire summer to promoting distribution is a huge commitment,” Ted Stark, Division General Manager for Dalco, told me. “So, when I saw it, I just knew we had to be a part of it. I was really pleased at how our people opened up to you and shared their feelings from the heart. Our culture of family shined through. Everything we did together exceeded my expectations.”

Each day on the tour, I will bring the We Supply America RV to different distributor locations to create a meaningful employee experience that engages and energizes your people around the important work they do, your culture and your values. Many distributors leverage the tour stop in their marketing, recruiting and employee communications to further their mission.

This is a unique opportunity. As Michele Pecak, Vice President of Operations at Advance Electrical Supply, says, to support your team, “their dreams, and let them see that they’re part of something bigger.”

If you’d like to learn more and be a stop on the tour, visit wesupplyamerica.net.

Dirk Beveridge is the founder of UNleashWD, Executive Producer at We Supply America, President of the Beveridge Consulting Group and Champion for the noble calling of distribution for over 36 years. His one-of-a-kind perspective on the future of wholesale distribution has guided his mission to advance the growth, relevance and transformation of the industry, helping distributors thrive. Learn more about Dirk by visiting WeSupplyAmerica.net.

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IN THE NEWS with Fastener News Desk the Week of April 11th, 2022

The Fastener Museum – Opening Spring 2022

Distribution, Fasteners, Manufacturing

I’m Lisa Kleinhandler, Editor-in-Chief at Fastener News Desk….It’s IN THE NEWS the Week of April 11th, 2022

Watch now on YouTube Channel FastenerTV: (7 min 18 sec.)

This week’s episode of in the news is sponsored by the international Fastener Expo. Save The Dates October 17 – 19, 2022 at Mandalay Bay in Las Vegas. The International Fastener Expo is the largest B2B expo for industrial fasteners and tooling & machinery in North America. Since 1981, the event has brought together manufacturers and master distributors of fasteners, precision formed parts, fastener machinery & tooling and other related products and services with distributors and sales agents in the distribution chain.

In Fastener News…

The COVID virus continues to disrupt the fastener industry supply chain. Due to the spread of COVID in the region the Taiwan International Fastener Show has been postponed until May 3-5, 2023. For more info go to FastenerTaiwan.com

In other event news

The Industrial Supply Association’s ISA22 Convention runs today, April 11-13th in Houston. It’s ISA’s first in-person convention since 2019. ISA22 In-Person will be followed by a complementary and powerful Virtual Program that will launch every Tuesday for 3 weeks after the in-person convention. These virtual sessions will drill deeper into hot-topic subject areas so you can strategically align your team, level-up your high potential talent, and engage your whole company. For more info go to ISApartners.org

In Acquisition News:

LindFast Solutions Group a leading master distributor of specialty fasteners in North America announced the completion of its acquisition of Toronto-based Fasteners and Fittings, Inc. The combination of LindFast Solutions Group and Fasteners and Fittings will enhance and expand both companies’ already significant capabilities in Canada.

Simpson Manufacturing Co., Inc. an industry leader in engineered structural connectors and building solutions, today announced the successful completion of its acquisition of the ETANCO Group (“ETANCO”), a leading designer and manufacturer of fixing and fastening solutions for the European building construction market, for approximately $800 million.

Nucor Corporation announced that it will build a new rebar micro mill in Lexington, North Carolina. This will be Nucor’s third rebar micro mill, joining existing Nucor micro mills in Missouri and Florida. “Nucor Steel Lexington will produce steel with nearly 100% recycled content, which means our new, modern infrastructure will be made with the most sustainable steel available anywhere in the world.”

In Fastener Industry Association News:

Women in the Fastener Industry has extended their application deadline date until April 18th for the Margaret Davis Scholarship application! WIFI honors the memory of Margaret Davis of ISSCO, INC & BTM Manufacturing with a scholarship to Fastener Fair USA in Detroit, MI May 17- 19th. Scholarship awardee will receive travel, accommodations, and entrance to the expo. Go to: 👉https://fastenerwomen.com/scholarships

NCFA DISTRIBUTOR SOCIAL 2022 A FASTENER FIESTA!

Registration is open for the 13th Annual NCFA Fastener Distributor Social scheduled for Thurs., May 5th in Independence, OH. For more info and registration go to NCFAOnline.com Twitter: @NCFA1

In Other Fastener Industry News:

Do You Know someone who has made a significant impact on the fastener industry? The International Fastener Expo wants to hear from you! Nominate at FastenerShows.com. Nomination deadline: July 30th.

The stories we 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!

Fastener News Desk will have the grand opening for The Fastener Museum this Spring, the online museum will feature a collection of industry memorabilia that dates back over the past decades. We welcome all fastener companies to share individual digital images of your memorabilia with us to add to the Fastener Museum and help create the largest online collection of fastener related history.

Would you like to share something that you have that represents the history of the Fastener Industry, Fastener Salesman and the catalogs and promo items they carried from business to business. We’re collecting memorabilia to display at the opening. A few digital images and description can be sent to lisa@FastenerNewsDesk.com! 

This episode has been sponsored by Product Genius Technology. Enhance your website customer experience with the new view for industrial product search. The past two years have certainly been a digital wake-up call for distributors and manufacturers. B2B buyers’ behaviors have gone full on digital! Digitizing data and product information is key to the beginnings of your business’s digital transformation. Is your product data ready for eCommerce and a great user experience.

This episode has been sponsored by Product Genius Technology. Enhance your website customer experience with the new view for industrial product search. The past two years have certainly been a digital wake-up call for distributors and manufacturers. B2B buyers’ behaviors have gone full on digital! Digitizing data and product information is key to the beginnings of your business’s digital transformation.  Is your product data ready for eCommerce and a great user experience.

Product Genius Technology’s services include, data cleaning and preparation, consulting, and strategizing. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.

If you would like to share your company’s events, news or sponsor an upcoming episode of IN THE NEWS or would like to add to the Fastener Museum me: lisa@fastenernewsdesk.com.

Thanks for tuning in to this week’s episode of IN THE NEWS with Fastener News Desk.

Until next week, be well, be safe and Keep it Fastenating.

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Fastener Expo, Fastener Hall of Fame, Fastener TV, Featured

The National Fastener Distributors Association (NFDA) is pleased to announce that Tim O’Keeffe of G. L. Huyett (Minneapolis, Kansas) is the 2022 recipient of its Fastener Professional of the Year award.

The Fastener Professional of the Year award was created by NFDA to honor individuals and companies that make a substantial positive impact on people’s lives. Past recipients include:

• Robbie Gilchrist of Capital Marketing

• Jim Ruetz of AIS

• Kevin Queenin of Specialty Bolt & Screw

• Don Nowak of Falcon Fastening Solutions

• Jim Derry of Field

In his nomination of Tim to receive this award, Mike McGuire of Worldwide Fastener Sources said, “Tim is not only one of the better innovators and mentors in our industry today, but Tim understands well the value of ‘paying it forward.’”

In 2020, O’Keeffe was inducted into the National Fastener Hall of Fame. In 2021 he was named by Worldwide Fastener Sources as its first ever Fastener Professional of the Year for “acumen, business culture, and charitable work.” He is a regular columnist for the American Fastener Journal, and he and his colleagues at G.L. Huyett invest in charitable work and community betterment. O’Keeffe was the Associate Chair of the NFDA from 2007-2010. In addition, he has taught college courses and is a consultant for private equity firms.

Tim will receive his award at the NFDA Annual Meeting & ESPS® Welcome Reception in Minneapolis, Minnesota on June 21, 2022.

Nominations for the next Fastener Professional of the Year award will open in January 2023.

Content Source: NFDA

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This week’s episode of in the news is sponsored by Product Genius Technology. Enhance your website customer experience with the new view for industrial product search. Turn your sales team into product genius’s when selling complex product categories online.

In Acquisition News…

This week gets off to a fast start for fastener acquisitions, just this morning…Bamal Fastener announced the acquisition of A&B Fasteners of Winder, GA and Industrial Depot of Gainesville, GA!

To learn more about Bamal visit: https://bamal.com Twitter: @Bamal_Fastener

In Fastener Industry News…

Würth Revcar Fasteners, a Würth Industry North America company, announced that it has fully leased a distribution warehouse building, consisting of 387,558 square feet, that had been occupied by the Home Shopping Network for the past 30 years. The building will be the single largest Würth facility in North America and serve as the new headquarters and primary distribution center for Würth Revcar – Industrial Division. The renovated space is expected to open in the third quarter of 2022. Dan Hill, chief executive officer said “We are thrilled to relocate Würth Revcar to a new, larger headquarters in Roanoke,” “This move represents another significant milestone for our fast-growing organization. The new facility supports our customer-centric distribution strategy in North America while accommodating our growing team. 

Tune into the Fastener Industry’s favorite podcast Fully Threaded Radio Episode 174 “Hyper Threaded” is LIVE! There’s no hyperbole suggesting the fastener industry is moving at a hyperbolic rate, as world events impact supply and pricing at a dizzying pace. Here about the latest Fastener Distributor Index and doing business in a climate of uncertainty. WINA senior director Ken Misch explains how Würth Industry North America meets these challenges with their NEW state-of-the-art distribution center technology. Check out this month’s episode with hosts Eric Dudas and Brian Musker in the industry’s favorite podcast. Listen now at: http://fullythreaded.com Twitter: @FullyThreaded

Congratulations to Gail Friedberg Rottenstrich Co-Founder & CEO Of ZAGO Fasteners, she was chosen as one of the Top 40: Women in Business by ROI New Jersey https://www.roi-nj.com/2022/03/19/roi…

Fastener TV