Podcast Transcript: 

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, Editor-in-Chief at Fastener News Desk reporting the latest news making headlines the week of October 14, 2024.


Watch now on FastenerTV at YouTube:


IN THE NEWS

Today is world standards day. International standards make things work. They provide instructions, guidelines, rules or definitions that are then used to design, manufacture, install, test and certify, maintain and repair the products and services that we use every day.

From manufacturing Nuts and Bolts, to charging your phone, and building bridges there are international standards for almost everything!

How have you seen standards impact industry, innovation and infrastructure in the fastener industry?  We’d love to hear about your experience Share using #WorldStandardsDay & #FastenerNews! Learn more at: WorldStandardsDay.org


Fastenal reported a 3.5% increase in the 3Q with $1.91 billion in net sales. Fastenal said revenue rose primarily because of a gain in larger customers and benefits of onsite locations. Sales of safety supplies were up 6.8%, and other product lines up 3.7%, offsetting a drop in fastener sales of 4.0%. The FMI Technology segment showed significant growth with over 7,000 devices signed in the quarter. Fastenal’s digital footprint continues its upward trend with eCommerce sales increasing by 25.5% and eProcurement up over 30%.


Bossard Group Reported Sales for the third quarter of 2024 with mixed developments in the three market regions. Demand in Europe remained stable with a slight increase of 0.5% , Asia showed satisfactory growth with an increase of 6.8%, America experienced a significant drop in sales declining by 19.0 percent. The Group’s overall sales decreased by 3.8 percent in the third quarter.


Economic activity in the manufacturing sector contracted in September for the sixth consecutive month and the 22nd time in the last 23 months, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. The Manufacturing PMI® registered 47.2 percent in September, matching the figure recorded in August. The overall economy continued in expansion for the 53rd month after one month of contraction in April 2020. The New Orders Index remained in contraction territory, registering 46.1 percent, 1.5 percentage points higher than the 44.6 percent recorded in August. Read full report:

Manufacturing PMI® at 47.2%; September 2024 Manufacturing ISM® Report On Business®


 The seasonally adjusted Fastener Distributor Index (FDI) surged to 59.0 in September marking the highest monthly FDI reading this year. The latest reading reflects improvement across several metrics, including sales, employment, and pricing. The Forward-Looking Indicator (FLI) also returned to very slight growth this month, climbing to 50.5, suggesting a relatively stable and slightly better outlook for October. Read full report: 

Fastener Distributor Index (FDI) | September 2024

 


FTR Special Report:  Würth EVP Larry Stevens

Fully Threaded Radio is featuring a Special Report with Würth’s EVP Larry Stevens. He shares his thoughts as he guides the world’s largest industrial supplier toward global integration and connectivity. Listen in at FullyThreaded.com


SME, the nonprofit dedicated to the advancement of manufacturing technology and fostering manufacturing and engineering talent and capabilities in North America, announced the appointment of Jeannine Kunz as the new Executive Director and Chief Executive Officer (CEO), effective January 1, 2025. Read full release: SME.org


Woodbridge International, a global mergers and acquisitions firm, announce the acquisition of its client, Bristol Machine Company by Industrial Threaded Products. Bristol Machine Company headquartered in Ontario, California is the premier distributor and fabricator of fastening systems and industrial products. Terms of the deal were not disclosed. https://www.globenewswire.com/news-release/2024/10/09/2960478/0/en/Woodbridge-International-Closes-Sale-of-Bristol-Machine-Company-to-Industrial-Threaded-Products.html


Global Industrial, a value-added national distributor of industrial products and MRO supplies, announced a multi-year marketing partnership with the New York Islanders and UBS Arena. The partnership expands the Company’s sports marketing program and enhances its ability to drive brand awareness and deepen customer engagement to both local and national audiences.  GlobalIndustrial.com


 FASTENER POP QUIZ – Version: 4 [What are C-Parts?]

🛠️ Attention FasteNerds! 🛠️ Get ready to screw in some fun and bolt into action with the Fastener News Desk Fastener Pop Quiz! This week’s quiz is ready to test your knowledge, challenge your buddies, and learn some mind-blowing facts about the nuts and bolts that hold the world together! Can you handle the pressure? 😎 Let’s find out! Take the quiz now and show us who’s the real fastener expert!

Learn more about C-Parts:

Bossard:  https://www.bossard.com/us-en/smart-factory-logistics/blog/2018/09/what-is-c-parts-management,-and-how-is-it-linked-to-tco/

Bufab: https://www.bufab.com/en/insights/c-parts-inventory-optimization


FASTENER INDUSTRY VIP’s! Meet the industry movers & shakers making this week’s episode of ‘IN THE NEWS’

Celebrating over 75 years of excellence with Wrentham Tool Group™! As pioneers in the fastener industry, we are dedicated to innovation, exceptional customer service, and top-quality products tailored to the global market.


FASTENER INDUSTRY EVENTS

WEBINAR: (Free)

Fasteners: Connecting Strength and Durability October 16, 2024 at 2:00 PM EST

Join Nucor as they take a deep dive into the world of Steel Fasteners. We will discuss connecting strength and durability of the product as well as our tru-tension and weather-resistant products. We will also explore how fasteners are made and what are the most important properties to take into account when selecting the correct fastener for your job.

This webinar is AIA accredited for 1 LU and meets the standard of NCSEA for 1.0 PDH for engineers.

Register now: https://nucor.com/newsroom/webinar-schedule-2024#webinar-october-2024


Registration is open for the 2024 NFDA Executive Summit in San Diego, CA. Join the NFDA for three days of education, networking, fun, and California sunshine October 16-18, 2024! Register and book your room by September 24 for the best rates. Go to: NFDA-Fasteners.org


The Fastener Training Institute is offering an Open House & Lab Tour – Learn about the Mechanical Testing of Fasteners on October 16th at Carver Labs, San Diego, CA as part of the 2024 NFDA Executive Summit. To register go to fastenertraining.org


Registration is open for the Pac-West After Hours: Newark event! Happening on November 7, 2024. Meet other people in the fastener industry and expand your professional network. Pac-West will host one beverage per person along with complimentary appetizers. https://www.pac-west.org/


The FTI announced that the final Fastener Training Week of 2024 will take place in Cleveland at the HQ of the Industrial Fasteners Institute November 18-22. The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week – 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: FastenerTraining.org


FASTENER INDUSTRY SCHOLARSHIPS:

Young Fastener Professionals

The Young Fastener Professionals Association Announced their Fastener Training Week Scholarship. 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.

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: https://bit.ly/3SfDCCv

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IN THE NEWS with Fastener News Desk the Week of October 7, 2024

IN THE NEWS with Fastener News Desk the Week of September 30, 2024

Fastener Industry, Fastener News, Fastener News Desk, Fastener TV