LIVE from the FastenerTV Studios…It’s IN THE NEWS, Week of November 8th, 2021
I’m Lisa Kleinhandler, Editor in Chief at FastenerNewsDesk.com
Watch On Fastener TV Now VIDEO (8:21)
The October 2021 Manufacturing ISM® Report On Business® Manufacturing PMI® registered 60.8 percent, a decrease of 0.3 percentage point from the September reading of 61.1 percent. This figure indicates expansion in the overall economy for the 17th month in a row after a contraction in April 2020. The New Orders Index registered 59.8 percent, down 6.9 percentage points compared to the September reading of 66.7 percent. A manufacturer respondent said “Demand for our products remains strong, but we continue to struggle to secure enough raw material to keep our manufacturing lines running.”
The Fastener Distributor Index (FDI) survey for October 2021 ticked up last month with a reading of 56.1 compared to 54.2 the previous month, seasonally adjusted. The Forward-Looking Indicator (FLI) contracted again slightly, but remained optimistic at 64.5, the 17th consecutive month of positive outlook.
In Acquisition News: Quad-C Management a private equity firm announced it has completed the sale of its investment in EFC International. Frontenac announced that it has acquired EFC International a value-added distributor of highly engineered fasteners. The financial terms of the transaction were not disclosed. EFC operates globally and provides solutions such as engineering support, sales and marketing, distribution, and high-touch service to customers in the automotive, industrial, and other technical end markets. The Company has served as a critical link between suppliers and customers for over 35 years. EFC has a history of growth driven by longstanding supplier relationships and a tenured customer base. CEO, Matt Dudenhoeffer, along with the current executive team, will continue in their roles leading the Company. These stories featured in this week’s episode of IN THE NEWS and more can be found at FastenerNewsDesk.com
In Event News:
The fastener industry gathers in Cleveland, Ohio! Reed Exhibition’s Fastener Fair USA begins today through Wednesday the 10th at the Huntington Convention Center in downtown Cleveland. Also, upcoming this month from Reed Exhibitions, November 17-18th is the premier Fastener Fair CONNECT. The two-day virtual event will connect fastener professionals from around the world. In Association News:
ATTN: #FastenerWomen: Are you interested in a leadership role in the #FastenerIndustry? Women in the Fastener Industry is currently recruiting new Board Members for 2022. If you are Interested, Email: Board@fastenerwomen.com for information and consideration or go to http://FastenerWomen.com
Pac-West Fastener Association announced their 2021-2022 Board of Directors! Clay Weaver of Industrial Threaded Products was elected to serve as president of the Pacific-West Fastener Association at a recent meeting of the Pac-West Board of Directors. Jo Morris of Desert Distribution was elected as the association’s vice president. Read more about new board appointees at! https://www.pac-west.org/board-of-dir…
Association events this week and upcoming are…
Thursday, Nov. 11th at 2PM EST Join the National Fastener Distributors Association for a Virtual Panel Discussion: Raw Material Challenges and Freight Issues. Panelists will share their insight, then open it up to questions. For more info go to NFDA-Fastener.org @nfdafastener
Friday November 12th Learn how bolts and nuts are made? You won’t want to miss the Fastener Training Institute and Industrial Fasteners Institute’s new live, two-hour virtual training course on the different manufacturing processes that most bolts, screws and nuts go through. The webinar will introduce the world of threaded fastener manufacturing. Participants will have a better understanding of common terms, the process steps, and the machines used to make these types of fasteners.
Fastener Training Week Los Angeles scheduled for November 29-December 3rd. This month marks #FastenerNews Desk’s 12th #Twitterversary! For the past 12 years @FastenerNews has been your ‘fast’ connection to everything in the fastener industry. We provide the content you need to grow and strategize in today’s digital business world as it happens. Follow us and be part of the conversation @FastenerNews! #MyTwitterAnniversary
This week’s episode of in the news was sponsored by Product Genius Technology “Makes buying products easier”.Register for the Fastener Industry Digital Landscape 2021 Report at ProductGeniusTechnology.com and find out how your digital footprint stacks up against other industrial suppliers.
If you would like to share your company’s events or news, or sponsor an upcoming episode of IN THE NEWS, contact me lisa@fastenernewsdesk.com.
Thanks for tuning in to this week’s episode IN THE NEWS with Fastener News Desk.
Until next week, be well and Keep it Fastenating.
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