Here’s the stories you need to be following in fastener industry news, acquisitions, industry award, recognitions, and upcoming events making headlines the week of April 8, 2024.
Watch now on FastenerTV at YouTube: (18:37)
IN THE NEWS:
Fastener News Desk is in the path of totality as we experience a total solar eclipse that will take place today Monday, April 8, 2024. The eclipse will be visible across North America with vantage points stretching from Texas to Maine. A solar eclipse occurs when the Moon passes between Earth and the Sun, obscuring the image of the Sun for a viewer on Earth bringing total darkness for a few incredible minutes. Be sure to follow instructions on how to view, participate and photograph the eclipse. Most importantly, stay in the moment and experience something truly out of this world!
The seasonally adjusted Fastener Distributor Index (FDI) expanded further in March, increasing to 53.0, up from 50.5 in February. The March Forward-Looking Indicator (FLI), was stable with a 47.3 reading, still below 50, which may imply deceleration ahead. The FDI suggests a modestly growing fastener market in March.
Economic activity in the manufacturing sector expanded in March after contracting for 16 consecutive months, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. New orders and production growth in March helped lift the Manufacturing ISMPMI into its first expansion since September 2022.
Manufacturing PMI® at 50.3%; March 2024 Manufacturing ISM® Report On Business®
Home Depot Inc. announced it had agreed to acquire SRS Distribution for $18.25 billion. SRS has several aspects that could be beneficial additions to Home Depot’s offerings including more than 760 strategic locations across 47 states. SRS will expand Home Depot’s total addressable market by $50 billion, to about $1 trillion. Read more:
House-Hasson Hardware, Knoxville, Tn., has agreed to acquire Bostwick-Braun Hardware, Toledo, OH. The deal will include warehouses and inventory. In 2023, privately-owned House-Hasson, founded in 1906 in Knoxville, had total sales of $350 million; Bostwick-Braun’s sales were approximately $80 million. Read more:
House-Hasson Hardware Agrees to Acquire Bostwick-Braun Hardware
Nucor Corporation announced that it has acquired Southwest Data Products, Inc., a manufacturer and installer of data center infrastructure for $115 million. SWDP’s offices and manufacturing facility are located in California and the company employs approximately 147 teammates. Nucor is also announcing the launch of Nucor Data Systems, a new business unit that will help better serve their customers in the data center infrastructure industry. Read more:
Fastenal Company (Nasdaq: FAST) conference call to review 2024 first quarter results, as well as current operations will be broadcast live over the Internet this Thursday, April 11, 2024, at 9:00 a.m. central time. Refer to Fastenal.com for further details. Read more:
Fastenal Company announced the publication of their 2024 ESG Report. The report recaps Fastenal’s performance and progress in the year ending December 31, 2023, and was produced with reference to the Global Reporting Initiative. A consistent theme of the report is how Fastenal’s 23,000-plus employees are using their talents and creativity to advance the company’s ESG vision: empowering people, preserving our world, and serving as a trusted partner. Their efforts, combined with an organizational commitment to continuously improve processes, systems, and reporting, helped Fastenal solidify and make progress toward its long-term ESG goals in 2023. Read more:
Fastenal Releases 2024 Environmental, Social, and Governance (ESG) Report
ASTM announced the appointment of Andrew G. Kireta Jr. as the organization’s new president, effective May 1. Kireta’s background in standards development and familiarity with the organization uniquely positions him to lead ASTM into the future. He has been an ASTM International member since 1998, and joined the board of directors in 2014, serving as chair of the audit and finance committee in 2017, vice chair in 2018 and 2019, and chair of the board in 2020. Kireta also previously served as vice chair and chair of the board of SEI International, an ASTM affiliate. Read more:
ASTM International Welcomes Andrew G. Kireta Jr. as New President
The Fastener Industry mourns the loss of Rachel Verlinda Cordova, 92, Rachel passed away peacefully at her home in California on March 27, 2024. Rachel dedicated herself to her family and Cordova Bolt. She maintained an unwavering commitment to others, welcoming all with an open door and a sympathetic ear. Our deepest condolences go out to her family and community. https://www.cordovabolt.com/about/
The Industrial Fasteners Institute announced John O’Brien as their 2024 IFI Soaring Eagle Service Award Recipient! John has served the IFI for over 20 years; serving as an Officer, Chair of the Institute, and fastener industry advocate! John’s work was instrumental in developing the IFI’s Division III, Automotive Industry Fastener Group where he served as the first Division Chair and Manager. For more info about the Soaring Eagle award go to https://indfast.org/
Congratulations to Veeruhl Varshney of Research Engineering and Manufacturing the Industrial Fasteners Institute 2024’s IFI Joe Greenslade Young Leadership Award Recipient – Veeruhl has already made an impression with his work on smart fasteners which has resulted in two U.S. patents and represents significant advancement in the art of fasteners and fastening.
Tune into Fully Threaded Radio’s NEW Episode 198 “Meat me in Texas”! ! Join Eric and Brian with their guests include Charlie Kerr on the impact of EVs on the fastener industry. Fastenal CFO Holden Lewis reviews the latest FDI. Carmen Vertullo explains bolt tightness testing in the fastener training minute. Tune in at Fully Threaded.com
FASTENER INDUSTRY EVENTS:
Time to register for Fastener Fair USA 2024! Fastener Fair USA will take place on May 22-23, 2024 at the Huntington Convention Center of Cleveland. Fastener Fair USA is the premier exhibition in the U.S. dedicated to the full supply chain–distributors, mechanical and design engineers, purchasers, wholesalers and OEMs. From automotive to aerospace, construction, HVAC, furniture and appliances with fastener professionals from every segment of the market find the latest in fastening products at Fastener Fair USA.
Use promo code: FND2024 and get your FREE exhibit hall badge. http://fastenerfairusa24.com/FND2024
Fastener Training Week taking April 8-12 in Cleveland is sold-out! Participants will experience 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. Register now for upcoming Fastener Training Week’s taking place in August & November. For more info visit https://www.fastenertrainingevents.com/training.htm
Join the Southwestern Fastener Association in Fort Worth, TX for their Annual Conference April 17-18! Network with fastener industry professionals while enjoying golf, stockyards, boots, cowboys, and enchiladas to mix with sessions. Plan to join industry friends for a fun and fabulous few days in historic western Fort Worth, Texas! Registration forms are open now! https://www.southwesternfastener.org/
???? Are you ready to level up your expertise in the fastener industry? Join the Mid-West Fastener Association as they explore the Essentials of Heat Treating and Plating. Mark your calendar for April 18, 2024. Join the Midwest Fastener Association at SWD Inc. in Addison, IL, from 9:30AM to 3:00PM. This session is designed to equip you with essential knowledge to better serve your customers. Registration is open go to: https://www.mwfa.net/member/event/metallurgy-class/
ISA24 is Where Business Gets Done. Join the Industrial Supply Association for their conference April 15-17, 2024 in Charlotte, NC. The agenda includes an awesome lineup of speakers, workshops, networking, Golf Outing and 5K Fun Run/Walk event and more! There’s still time to register. Go to https://isa24.isapartners.org/
Stop by and meet other people in the fastener industry and expand your professional network. Pac-West will host two beverages per person along with complimentary appetizers on Thursday, April 18th from 5:00 – 8:00 pm at the AleSmith Brewing Company in San Diego, CA. Register today: Pac-West After Hours
Join the Fastener Training Institute on April 18 & 19, 2024 for Fundamentals of Fastener Metallurgy and Heat Treatment at Industrial Fasteners Institute in Cleveland. Students will gain an understanding of mechanical properties and how designers can influence or change them with thermal treatments. Common thermal treatments for fasteners, including the actual process and equipment mechanics use, will all be explored. To learn more and register ➡️ https://www.fastenertrainingevents.com/fundamentals-of-metallurgy.htm
Learn over lunch with The Fastener Training Institute’s Fastener Basics Four-Part Webinar Series
Students can learn over lunch and complete the training across four Thursdays this spring, next classes are scheduled for APRIL 25TH, May 30th, & June 27th. FTI’s Fastener Basics course provides extensive fastener parts knowledge to those new to the fastener industry and to those looking to better understand fastener products. https://fastenertrainingevents.com/fastener-basics.htm
The Southwestern Fastener Association will hold a Sleep in Heavenly Peace Bed Build event at Advance Components on Saturday, April 20, 2024, from 9am-1pm. The SFA understands the importance of serving their community and loves the idea of building beds so that no child has to be without the warmth and security of a bed. To get involved or donate go to https://www.southwesternfastener.org/
SEFA Annual Spring Conference will be held April 22nd-24th, 2024 in Concord, NC. SEFA invites members and fastener friends to join them for a great event in a great location! This year’s Spring Conference offers suppliers the opportunity to showcase your products at the Table Top Show which will be open on April 24, 2024 9:00AM – 11:00AM. For registration and hotel bookings go to https://www.thesefa.com/event/sefa-annual-spring-conference-registration/
Wurth Industry has partnered with Trident Technical College in Charleston, SC to provide in-person fastener training courses taught by Technical Instructor Randy Lammers! Increase your skillset and gain more knowledge, experience, and understanding about fasteners and their critical role in the quality and integrity of items engineered and manufactured. Register now for Special Purpose Fasteners – April 26, 2024 Learn more and register here: https://www.tridenttech.edu/ce/engineering-and-manufacturing/construction-and-engineering.html
Join Eurolink Fastener Supply Service and a group of volunteers dedicated to building, assembling, and delivering top-notch bunk beds to children and families in need. Eurolink will host a Sleep in Heavenly Peace bed build event at their new facility on Saturday, April 27th from 8:00am to 2:00pm. The Eurolink Team fully believes that a bed is a basic need for the proper physical, emotional, and mental support that a child needs. For more info go to EurolinkFSS.com or https://shpbeds.org/
The North Coast Fastener Association will hold their 15th Annual Distributor Social! Make sure to mark your calendars for Tuesday, May 21st and stay tuned for more details coming soon! https://www.ncfaonline.com/
The Gilchrist Foundation is accepting applications for their 2024 scholarship! Providing scholarships and leadership opportunities for persons engaged in or pursuing careers in the fasteners industry. The application is available at: http://www.gilchristfoundation.com. The application is due by May 31, 2024.
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”!
1) Subscribe to receive our weekly newsletter: click here
2) Join the LinkedIn Fastener News Group: click here
3) Join the LinkedIn Fastener News Desk page: click here
RELATED CONTENT:
Fastener Industry, Fastener News, Fastener News Desk, Fastener News Podcast, Fastener TV, Fastener Training
