INTRO By Cris Young: “Hello, fastener enthusiasts and industry professionals, Cris Young here LIVE in the FastenerTV studio! Welcome to your weekly roundup of the latest in fasteners—industry news, trends, upcoming events, and scholarships. Let’s dive into this week’s episode of In the News with Fastener News Desk!”
HOST: Lisa Kleinhandler: Whether you’re a bolt buff or riveted by rivets, these are the stories you need to be following in fastener industry news, acquisitions, upcoming events, and scholarship opportunities making headlines the week of May 20, 2024.
Watch now on FastenerTV at YouTube: (16:37)
IN THE NEWS:
The Würth Group, global market leader in the development, production and sale of assembly and fastening materials sets new sales record with sales of 20.4 billion Euro vs 19.9 billion in 2022. This corresponds to an increase of 2.3 percent despite facing a number of economic and political challenges. Read more:
As part of an ongoing expansion into the North American market, BUMAX announce the appointment of Fuller Fasteners as its master distribution partner for Canada. This milestone represents a significant step forward and the continued expansion of the company’s global footprint across key regions. The launch of the BUMAX range of premium high-strength stainless steel fastener products in Canada demonstrates the company’s commitment to the wider North American market. Read more:
The Whitehousde announced significant measures to safeguard American workers and businesses from China’s unfair trade practices. Key among these actions is the decision to increase the tariff rate on certain steel and aluminum products under Section 301. Starting in 2024, these tariffs will rise from the current 0–7.5% to a substantial 25%. This move underscores the importance of the steel sector to the American economy. The steel industry is not only vital but also at the forefront of advancements in clean steel technology, led by American companies. By increasing tariffs, the administration aims to bolster domestic production, ensure fair competition, and protect American jobs from the adverse impacts of unfair trade practices. Prepare Now: Find out How Upcoming Tariff Increases Will Impact Fastener Prices and Strategies for Staying Ahead in our latest featured content at Fastener News Desk. Read now:
How Upcoming Tariff Increases Will Impact Fastener Prices and Strategies for Staying Ahead
IN ACQUISITION NEWS… AFC Industries has acquired Huntington Beach California distributor Meg Technologies Inc. Terms of the deal were not disclosed. Founded in 1981, MTI supplies military standard Aerospace Fasteners to original equipment manufacturers, maintenance facilities, Department of Defense customers, and to a large variety of other Aerospace Distributors. Embarc Advisors served as the sole M&A advisor to Meg Technologies, Inc. Read full release:
H.B. Fuller Company (NYSE: FUL), the biggest pureplay adhesives company in the world, announced today that it has acquired ND Industries Inc., a leading provider of specialty adhesives and fastener locking and sealing solutions serving customers in the automotive, electronics, aerospace, and other industries. The acquisition is expected to accelerate the realization of H.B. Fuller’s top growth priorities, consistent with the company’s strategy to proactively drive capital allocation to the highest margin, highest growth market segments within the functional coatings, adhesives, sealants and elastomer industry. As part of the acquisition, products under ND Industries’ Vibra-Tite® brand will be added to H.B. Fuller’s existing product range. Read more:
Fastener SuperStore, a 20-year veteran of online selling and distribution of hardware solutions, has announced the opening of their new headquarters and primary distribution center in Downers Grove, IL. Founded in 2005, Fastener SuperStore’s business model focuses on on-demand shipping of bulk industrial fasteners such as screws, bolts, nuts, washers, spacers and standoffs. Read more:
Listen Up Threadheads and Fastenerds you won’t want to miss Fully Threaded Radio’s Episode 200 “Being There”! Congratulations to Eric and Brian on this epic milestone of 200 episodes of fastener industry talk radio. Check out all their special guests at FullyThreaded.com
FASTENER INDUSTRY EVENTS:
Prepare to embark on a maritime networking adventure as the NCFA proudly presents its 15th Annual Distributor Social aboard the Goodtime III, the largest quadruple-deck luxury ship on the Great Lakes on Tuesday, May 21st! https://www.ncfaonline.com/
Fastener Fair USA gets underway this week! taking place May 22-23 at the Huntington Convention Center in Cleveland, OH! Fastener Fair USA is the premier exhibition in the U.S. dedicated to the full supply chain, including distributors, manufacturers, mechanical and design engineers, purchasers, wholesalers and OEMs. Register today! Use promo code: FND2024 and get your FREE exhibit hall badge. Go to: http://fastenerfairusa24.com/FND2024
Get ready to tee off and network with your fellow fastener industry professionals at the MWFA 2024 Screwed Up Open! This year’s event promises to be a day filled with fun, friendly competition, and valuable connections. Join the MWFA on May 30, 2024 at the White Pines Golf Club in Bensenville, IL. Register now at MWFA.net
Learn over lunch with The Fastener Training Institute’s Fastener Basics Four-Part Webinar Series. Students can learn over lunch and complete the training, next classes are scheduled for 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
Manufacturing Day will be celebrated on Friday October 4th. Are you planning a MFG Day event? Join the Manufacturing Institute for their Making the Most of Your Event webinar sharing best practice examples of past MFG Day events to help others in planning and preparing for successful events taking place May 30th from 2:30-3:30 ET. Register now at TheManufacturingInstitute.org
The Annual Northeast Fastener Distributors Association Scholarship Golf Outing will take place June 5th at the Southington Country Club. Sponsorships & golfer registration are now open – Save the Date and and Makew Sure to Reserve Your Space today! Go to: https://www.nefda.com/events/
Registration is open for the NFDA Annual Meeting and ESPS taking place in Irving, TX June 11-14, 2024. The NFDA’s premier event includes networking, one-on-one business meetings, education, and social time with industry friends. You won’t want to miss it! Go to NFDA-Fastener.org to register today!
New training opportunity from the Fastener Training Institute and the Industrial Fasteners Institute! Fatigue in Fasteners: Why Workmanship is Important & Fastener Standards 101: Aerospace and Defense Version. Explore the important subject of fatigue, especially with aerospace fasteners and how manufacturing workmanship plays a role. Plus, learn about Fastener Standards used by the aerospace fastener industry and explore how standards are developed and amended. June 18-19, 9 a.m. to 4 p.m. in Santa Ana, CA
Register now at FastenerTraining.org
Join Pac-West for their After-Hours event happening in Langley, BC. Stop by and meet other people in the fastener industry and expand your professional network at The Barley Merchant Taproom & Kitchen on Thursday, June 20, 2024 from 5:00 – 8:00 PM. Go to Pac-West.org to register today!
Don’t Miss Out on the Ultimate Ballgame Experience with MWFA as they head to Milwaukee for an unforgettable day at American Family Field to see the Milwaukee Brewers take on the Pittsburgh Pirates! Friends and Family Welcome! Happening Thursday, July 11, 2024, at 1:10 PM. Hurry and reserve your tickets today! Go to MWFA.net to reserve your tickets.
SCHOLARSHIPS:
NFDA Scholarship for Fastener Training Week will offer one scholarship valued at $2,800 Scholarships are available for NFDA members only. Scholarships can be used for any Fastener Training Week program in 2024 or 2025. Submit your completed application to the NFDA office by June 1. Apply now: NFDA-Fastener.org
Young Fastener Professionals
The Young Fastener Professionals Association Announced their Fastener Training Week Scholarship. YFP is offering members an opportunity to attend Fastener Training Week. Scholarships can be used for any Fastener Training Week program in 2024 or 2025. The FTI Training is valued at $2,800. Deadline to submit your completed application is October 15. Go to NFDA-fastener.org
The Marc Strandquist Memorial Scholarship Fund will offer one scholarship for Fastener Training Week each year (valued at $2,800 each). The deadline to submit your completed application to the NFDA is August 31, 2024. Applicants will be notified of the Strandquist family’s decision in late September. Apply now: NFDA-Fastener.org
Women in The Fastener Industry (WIFI) honors the memory of Ann Bisgyer Wolz, co-publisher of Fastener Industry News with a Fastener Training Institute scholarship. Learn more about this incredible opportunity for training. https://www.fastenerwomen.com/scholarships Applications are due by June 14.
The Mid-West Fastener Association (MWFA) educational scholarship is just one of the many membership benefits. The scholarships= award is a minimum $1,500.00 for higher education. The MWFA has awarded over $950,000 from membership dues, donations & industry shows. Submit your MWFA scholarship at MWFA.net. The application by September 1, 2024.
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 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.
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