IN THE NEWS with Fastener News Desk the Week of July 15, 2024
Hello, fastener enthusiasts and industry professionals we’re 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 the Week of July 15, 2024
Watch now on FastenerTV at Youtube: (13:53)
Hello, fastener enthusiasts and industry professionals! 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!
IN THE NEWS
Fastenal Reports 2Q24. Net sales were up +1.8%. eBusiness drove Q2 growth with daily sales rise of 25.5%. Daily sales through eProcurement and eCommerce were up 30.9% and 11.6%, respectively. • Sales through Fastenal’s Digital Footprint was 59.4% of total sales in 2Q24, versus 55.3% in 2Q23. Activity through our FMI technology platform represented 41.8% of sales in 2Q24.
The Fastener Distributor Index (FDI) survey for June 2024, dipped very slightly but remained in positive territory coming in at 52.1 after reading 52.9 in May, seasonally adjusted. Likewise, the Forward-Looking Indicator (FLI) dropped to 50.9 vs 52.8 in May. Listen to episode 202 of Fully Threaded Radio for further commentary on the FDI. The FDI is brought to you by the FCH Sourcing Network. Read full report:
Fastenal Company has appointed Jeff Watts, a 28-year Company veteran with deep global sales experience, to the position of President and Chief Sales Officer, effective August 1, 2024. Mr. Watts will assume the President role from Dan Florness, who will be voluntarily vacating the President position on the effective date. Mr. Florness will continue to serve as Fastenal’s CEO and as a member of its Board of Directors.Read more:
Global Industrial value-added national distributor of industrial products and MRO supplies, announced that Barry Litwin, CEO, has notified the Board of Directors of his upcoming departure from the Company to pursue another opportunity. The Board of Directors has appointed Richard B. Leeds, Executive Chairman of the Board, as Interim Chief Executive Officer. The transition will be effective as of August 9, 2024. Mr. Leeds has been with Global Industrial for over 35 years and has served as Chairman and CEO from 1995 to 2016. He also served as President of the Company’s Industrial Products group until 2011. He guided the Company from its IPO in 1995 to its becoming a Fortune 1000 leading international multichannel merchant.
ARNOLD celebrates its 30th anniversary within the Würth Group. 1 July 2024 marked the 30th anniversary of Prof. Dr. h. c. Reinhold Würth’s visionary decision to take over the screw production of the L&C Arnold Group and integrate it into the Würth Group. Today, the ARNOLD Group employs almost 1,500 people and has achieved a global turnover of 300 million euros in 2023. The company’s strategic focus areas are New Mobility, Future of Work, digitalization, sustainability and internationalization.
NEFCO premier specialty supply partner to the professional construction trades announced the acquisition of Modern Fasteners, a Pennsylvania-based distributor in the construction supply industry. This strategic move marks NEFCO’s eighth acquisition since 2022 and expands its branch network to 41 locations – strengthening their commitment to be the single best partner to contractors whenever they build. Read more:
Women’s Soccer proves to be as tough as steel! The Carolina Ascent FC one of the eight initial teams of the USL Super League, a new Division One professional women’s soccer league set to kick off in August 2024 The club just announced Nucor Corporation as their Primary Kit Sponsor for the Inaugural Season Home Jersey. Source: Carolina Ascent FC
FASTENER INDUSTRY VIP’s!
In this 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. Meet the industry movers & shakers making this week’s episode.
FASTENER INDUSTRY EVENTS
Join the Industrial Fasteners Institute and Fastener Training Institute Friday on July 26, 2024, for a live webinar from12:00 p.m. -2:00 p.m. ET. Learn about Galling: Understanding this Failure Mechanism and Strategies to Prevent it. Participants will learn why it is more likely to occur with stainless steel and aluminum fasteners and why driving speed makes a difference. Students will also discover simple strategies to reduce the likelihood of it happening or the severity of it when it does. Register Now: indfast.org
We’re three months away from celebrating National Manufacturing Day! Manufacturing Day will be celebrated on Friday October 4th. Manufacturers and their partners across the U.S. are gearing up to demonstrate to students, parents, and educators that careers in manufacturing are diverse, high-tech, innovative, well-paying, in-demand and potentially life-changing.
Be sure to download the Host Toolkit and Marketing Toolkit to support your planning and messaging leading up to Manufacturing Day 2024. Resources and toolkits available are www.mfgday.com
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 to reserve your tickets.
NCFA will host their annual NIGHT AT THE BALLPARK on Thursday, August 1st at Progressive Field as the Cleveland Guardians take on the Baltimore Orioles. Attendees will enjoy a reserved private section of Club Seats which offers fantastic views of the entire field and the Cleveland skyline. Tickets for this event are sold-out.
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
Fastener Training Institute’s Fastener Training Week 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
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! Next stop is scheduled for August 28th in Brooklyn Park, MN For more tour dates and info go to: https://wurthadditive.com/pages/demo-days-2024
Join Pac-West Fastener Association for their After Hours event in Denver, CO – Thursday, September 26, 2024, 5:00 – 8:00 pm at the Punch Bowl Social in Denver, CO Stop by and meet other people in the fastener industry and expand your professional network. Registration will open on July 22, go to pac-west.org
SCHOLARSHIPS:
The Marc Strandquist Memorial Scholarship Fund will offer one scholarship for Fastener Training Week each year. 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 Mid-West Fastener Association (MWFA) educational scholarship is just one of the many membership benefits. The scholarships award is a minimum of $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 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 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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