IN THE NEWS with Fastener News Desk the Week of August 14, 2023

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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

Warren Fastenings South - Crunchbase Company Profile & Funding

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/

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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.