IN THE NEWS with Fastener News Desk the Week of June 17, 2024
We’ve got a great episode on tap for you this week with lots to report, loose fasteners, incorrect torquing, fastener acquisitions, and MDM’s 2024 Top Fastener Distributor list, with several industry events happening this week and more!! Let’s get started with the latest news making headlines the week of June 17, 2024.
Watch now on FastenerTV at YouTube: (17:25)
IN THE NEWS:
In a recent exclusive from Reuters Boeing is investigating a new quality problem with its 787 Dreamliner after discovering that hundreds of fasteners have been incorrectly installed on the fuselages of some undelivered jets. The latest in a series of manufacturing snags affecting the U.S. plane maker involves incorrect “torquing” or tightening in a Boeing plant of more than 900 fasteners per plane – split equally between both sides of the jet’s mid-body. Read full article from Reuters.
Just as the Federal Reserve and U.S. economy get good news on inflation, with consumer prices and wholesale prices softening, a major global trade inflation indicator is headed in the wrong direction. Rising freight rates are a new source of concern in the global supply chain with forecasts warning that ocean cargo prices could reach $20,000 — potentially even touch the Covid era peak of $30,000 — and stay there into 2025 according to a new report from CNBC. Read more from CNBC.
Portland Bolt & Manufacturing Co., LLC (Portland Bolt), a leading domestic manufacturer and global provider of anchor bolts and nonstandard, custom fasteners announced the acquisition of the manufacturing and galvanizing operations of Southern Anchor Bolt Co. The acquisition highlights Portland Bolt’s strategy to expand its US-based manufacturing footprint into the East. Together, the footprint will allow the companies to reach 100% of US customers within 2 business days. Read more:
Blue Ribbon Fastener, a full-service distributor of fasteners and other Class-C components announced the acquisition of Burlington, WI-based Nationwide Fastener Systems. Terms of the deal were not disclosed. For more than three decades Nationwide Fastener Systems has provided OEM clients with quality Class-C Fasteners, inventory management services, and other custom solutions that improve supply chain efficiency. Read more:
MDM’s 2024 Top Distributors List is now available! In its 15th year MDM’s Top Distributor’s List is an annual ranking of more than 200 North American industrial, construction and commercial product distribution companies, by revenue, across 20 discrete product category sectors, including fasteners. Ranking at the top of 2024 Top Fastener Distributors List are:
Fastenal Company…No. 1 ($7.4 Billion)
Würth Industry North America… No. 2 (N/A)
Fastenal Company ranked no. 1 on the MDM 2024 Top Fastener Distributors List. Fastenal dominated in other categories too, ranking No. 2 for safety products, No. 5 for MRO & No. 6 for industrial supplies just to name a few…Be sure to download the full report to learn about all the categories Fastenal ranked in, plus get access to executive editor Mike Hockett’s exclusive analysis of the factors that affected this year’s rankings. MDM.com
This week we introduced a NEW FEATURE that will appear “IN THE NEWS”:
FASTENER VIP’s
In this exciting new segment, we’ll spotlight the dedicated professionals who are driving the industry forward. Whether they’ve received a significant promotion or achieved advanced certifications, these individuals exemplify the pursuit of excellence and innovation in the fastener world. Join us as we honor their hard work, dedication, and the milestones they’ve reached on their career paths. Their stories not only inspire but also set a benchmark for what’s possible when passion meets expertise. Let’s meet this week’s Fastener VIPS’s!
Kyle Lindsly-Roach, E-Z LOK. Congratulations Kyle Lindsly-Roach, director of Sales and Marketing at E-Z LOK a leading manufacturer and master distributor of threaded inserts for metal, plastic and wood. Kyle received achieved the Certified Fastener Specialist™ (CFS) designation after complete Fastener Training Week in California. ezlok.com
Ryan Waychoff, Advance Components In keeping with the strategy to provide value added, engineering-based solutions to its’ customers, Advance Components announced that Ryan Waychoff has been promoted from Regional Sales Manager to Business Development Director. Ryan will focus on strategic partnerships with current customers, exploring new markets and business opportunities, and expanding marketing efforts that create value for Advance Components clients. advancecomponents.com
FASTENER INDUSTRY EVENTS:
THIS WEEK:
Würth Additive Group is Touring the USA on their Demo Days 2024 Tour! If you’re looking to turn a physical part into a digital model you can print on demand, you won’t want to miss the opportunity to meet with the Wurth Additive Group Team! Today in Indianapolis, & Chicago, IL June 18th, Plymouth & Milwaukee, WI June 19th.
For more tour dates and info go to: https://wurthadditive.com/pages/demo-days-2024
THIS WEEK is Fatigue in Fasteners: Why Workmanship is Important & Fastener Standards 101: Aerospace and Defense Version. June 18-19, 9 a.m. to 4 p.m. in Santa Ana, CA. Presented by the Fastener Training Institute and the Industrial Fasteners Institute 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. Register now at FastenerTraining.org
North Coast Fastener Association will host their annual Cork-SCREW….Cheers to Fasteners event on Thursday, June 20th 5 – 9pm. Join industry friends for a casual evening at Sharon James Cellars, a charming, family-owned winery. This local winery is renowned for its handcrafted wines, boasting a tasting room, wine bar, crush house, outdoor patio with private pavilion and bar where NCFA guests will gather and have a fun cornhole tournament! Go to NCFAOnline.com
Fasteners 201: Behind the Desk. What fastener professionals need to know to fill in knowledge gaps. Join the Fastener Training Institute on June 20, 2024 at Fuller Metric in British Columbia, Canada. This new compilation course arrives just in time for the Pac-West After Hours event. Attendees will learn about standards, terminology as well as strength, hardness, platings, coatings and finishes from expert instructor, Carmen Vertullo. All students will receive the FTI Basic Fastener Handbook. Go to FastenerTraining.org to register.
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!
Fastener Training Institute’s Fastener Basics Four-Part Webinar Series final training class wiil take place 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
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! The deadline is May 11th or when tickets run out! Go to MWFA.net
Plan to join the Midwest Fastener Association for their highly anticipated FSTNR WEEK taking place August 18-21, 2024! The event includes a Sleep in Heavenly Peace Organization Bed Building Event, Plant Tours, Welcome Mixer, Fastener Failures Seminar, the 42nd Annual MWFA Fastener Show, Fastener Bash, & Golf Outing & if that’s not enough there’s Fastener Training Week your chance to become a Certified Fastener Specialist during FSTNR Week! Register today for FSTNR Week 2024! Go to: https://mwfa.net/fastener.htm
The Fastener Training Institute announced Fastener Training Week Chicago! FTW returns to Chicago this year from August 19 to August 23. The event will be hosted by the Mid-West Fasteners Association (MWFA) as part of their annual FSTNR Week. For more info and to register go to fastenertraining.org https://www.fastenertrainingevents.com/fastener-training-chicago.htm
INDUSTRY SCHOLARSHIPS:
Calling all Pacific-West Fastener Association members! Apply by June 30 for a scholarship to attend one of our 2024 or 2025 Fastener Training Weeks. You’ll have the opportunity to grow your fastener knowledge, tour manufacturing facilities, network with other fastener professionals and become eligible for Certified Fastener Specialist™ designation. Go to: pac-west.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
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. The deadline to submit your completed application is October 15. Go to NFDA-fastener.org
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 due by September 1, 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.
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