I’m Lisa Kleinhandler, Editor-in-Chief at Fastener News Desk. It’s ’IN THE NEWS’ week of January 24th, 2022

Watch Now on FND’s YouTube Channel: FastenerTV (9:04)


In Acquisitions News:

It’s a grand slam for AFC Industries with their fourth acquisition! Late last year we reported about the AFC acquisition of New Jersey based AALL AMERICAN Fasteners (AAF) and this year they are right back at it.

AFC Industries acquired Santa Fe Springs, California based Askew Industrial Corporation. Terms of the deal were not disclosed. Founded in 1957, Askew is a global leader in supply chain logistics and distribution of industrial, MIL-SPEC and engineered fasteners, components and MRO products. (www.askewindustrial.com) https://www.fastenernewsdesk.com/30499/afc-industries-has-acquired-askew-industrial-corporation/

AFC CEO Kevin Godin said, “We are very excited to have Askew join the AFC family. They have a long history of providing excellent service to their customers, expand our reach in markets we found attractive, and they will help us accelerate our expansion strategy in the western United States.”

Additionally AFC’s most recent acquisition of Oregon Bolt, Inc. (OBI) . Terms of the deal were not disclosed. https://www.fastenernewsdesk.com/30540/afc-industries-has-acquired-oregon-bolt-inc-obi/

Founded in 2003, OBI is a large, locally owned and operated supplier of industrial fasteners and electronic hardware specializing in vendor managed inventory (VMI) and servicing customers in the Pacific Northwest. (www.oregonbolt.com)

AFC CEO Kevin Godin said, “We are pleased to have the Oregon Bolt team as part of the AFC family. As part of our expansion strategy in the western U.S., we were looking for a partner in the Oregon market that had an excellent reputation for servicing customers and a solid team. Oregon Bolt checks all those boxes as well as helping to deepen product capabilities within AFC that we expect will contribute to growth in the coming years.”

Headquartered in Fairfield OH, AFC Industries is a dynamic organization dedicated to providing supply chain management solutions for fasteners, tooling, and assembly components to original equipment manufacturers, assembly plants, and other users of these products. Their supply solutions include Vendor Managed Inventory, Stock and Release programs, Light Assembly, Kitting, and Private Labeling services amongst others. AFC supports a diverse industry base of manufacturers across a broad range of industries. Their experienced team has a proven track record of helping manufacturers and assemblers reduce cost, improve quality, and increase efficiency. (www.afcind.com)

In April 2021 AFC Industries was acquired by Bertram Capital, based in Foster City CA. (www.bertramcapital.com) For additional questions please contact sales@afcind.com


The Fastener Industry’ favorite podcast. Fully Threaded Radio Episode #172 – TITLED ‘Milestones’ is LIVE!

Hear from hosts Eric Dudas and Brian Musker of Fasteners Clearing House and hosts of Fully Threaded Radio. They’ll discuss the new year bringing continued business momentum, along with a full decade of data on which to measure it, as the Fastener Distributor Index marks its first full decade.

Fastenal CFO, Holden Lewis returns to reflect on his role in the creation of the popular industry benchmark. 2022 also brings continued challenges, and Würth Revcar CEO Chapman Revercomb sees supply chain transparency as a major key to meeting them. Listen to the full episode at FullyThreaded.com


Upcoming Industry Events include:

The NAW 2022 Executive Summit begins tomorrow. The Executive Summit is back in-person January 25 – 27, 2022 Go to NAW.org for more info.

Tuesday, Jan 25th, PMA the Precision Metal Association will host Mike Wall, director of automotive analysis for IHS Markit, will join the PMA West Michigan District to provide unique insight into the automotive industry. Mike will present a strategic look at the challenges and opportunities in 2022 and also take a look at forecasted sales and production. This is a must-attend presentation for automotive suppliers to prepare for the upcoming year. Go to PMA.org for more information.

WIM Education Programs Webinar, Wednesday January 26 @ 12:00 pm – 1:00 pm. Join the Women in Manufacturing Association (WiM) for a webinar on professional development trends and the solutions offered by WiM to advance your female talent. WiM Educational partner and workforce development expert Stacey Schroeder will share insights on effective solutions to develop your talent and highlight the educational programs and resources that WiM offers. Details on WiM programs can be found at WomeninManufacturing.org

Coming up NEXT MONTH is the first Fastener Training Week of 2022. The in-person training class is scheduled for February 21-25 at the Industrial Fastener Institute. The advanced technical training program is offered in partnership with Industrial Fastener Institute and is beneficial training for fastener distributors, manufacturers, and end-users.  Fastener Training Week offers five intensive days of education and plant tours as part of the FTI Certified Fastener Specialist™ (CFS) advanced technical training program. After completing this industry training in a small group environment and passing a final exam, attendees are eligible for the Certified Fastener Specialist™ (CFS) designation. For more info and to get registered go to FastenerTraining.org

Read more: https://www.fastenernewsdesk.com/30368/fastener-training-institute-announces-its-first-2022-fastener-training-week/


This week’s episode of in the news was sponsored by Product Genius Technology. Enhance customer experience with the new view for industrial product search. Turn your sales team into product genius’s when selling complex product categories online.

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Product Genius Technology services include data cleaning and preparation. Contact ProductGeniusTechnology.com or call 1-800-fasteners to find out how to get started today.


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 of IN THE NEWS with Fastener News Desk.

Until next week, be well, be safe and Keep it Fastenating.


TAGS: #fastenernews #fasteners #customerexperience #eCX #distributors #ecommerce #marketplaces #data #productgenius #technology #gridview #privateequity #acquisitions #fastenerdistributor #sourcefasteners #fastenerdistributorindex

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