Global Fastener News

HEADLINES

SHORTTAKES: Aim Testing Lab, FIC, Bolt Supply House and Sherex Fastening Solutions

November 12
01:53 2018

Carmen Vertullo and Rob LaPointe co-founded AIM Testing Laboratory. The primary focus of AIM is consultation, training and testing of fasteners and related products.  Product offerings include technical guidance, specifications...

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Sisto Advises Distributors More Prefab in Future

November 12
00:51 2018
    Sisto Advises Distributors More Prefab in Future

Offsite construction is on the rise and Bill Sisto predicted to the Specialty Tools & Fasteners Distributors Association that contractors will partner with prefab companies.

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Despite Revisions, 232 Tariff Process Still ‘Inconsistent’

October 22
16:54 2018
    Despite Revisions, 232 Tariff Process Still ‘Inconsistent’

Nearly five months after the U.S. imposed tariffs on steel and aluminum imports, fastener manufacturers continue to receive “inconsistent” responses from the U.S. Commerce Department related to exclusions requests, according to the Industrial Fasteners Institute’s Washington representative Jennifer Baker Reid.

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FINdex Bounces Back in Q3

October 22
14:46 2018
    FINdex Bounces Back in Q3

The FIN Fastener Stock Index bounced back in the third quarter of 2018, rising 9.2% after declining 0.4% in the previous quarter.

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XL Screw Marking 50th Anniversary

October 22
05:17 2018
    XL Screw Marking 50th Anniversary

Back in the early days of XL Screw, communication with overseas suppliers was with teletype machines, unreliable phone service plus multiple stop, smoke-filled flights to Japan. Reflecting on the changes in his 46 years at XL, Bob Sachs cited increased efficiency through technology.

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Düsseldorf Adding Fastener Section in 2020

October 22
03:59 2018
    Düsseldorf Adding Fastener Section in 2020

The biennial Wire trade show in Germany has long dominated the fastener machinery exhibitions. Wire Düsseldorf noted passenger cars contain more than 1,000 screw connections – 300 of them in the combustion engine – and some 1,000 springs.

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FDI Declines For Second Straight Month

October 22
03:42 2018
    FDI Declines For Second Straight Month

The seasonally adjusted September FDI (55.8) decelerated in September, “still strong in absolute terms but nonetheless meaningfully lower for the second straight month,” according to R.W. Baird analyst David Manthey.

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Tariffs Session Added to 2018 IFE Program

October 22
03:13 2018

Vanessa Sciarra of the National Foreign Trade Council will speak Tuesday during the October 30 - November 1 International Fastener Expo in Las Vegas.

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Equity Firm Acquires Prestige Stamping

October 22
02:39 2018
    Equity Firm Acquires Prestige Stamping

Founded in a Detroit garage in 1967, Prestige Stamping operates a 100,000 sq ft facility in Warren, MI, to produces high-volume, tight-tolerance washers and similar small stampings.

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Lawson Acquires Dallas-Based Screw Products

October 22
02:13 2018

It is Lawson’s sixth acquisition in 36 months. The 2017 acquisition of the Bolt Supply House at $40 million was the largest.

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Nucor Reports Record Earnings

October 22
02:04 2018

Third-quarter net earnings more than doubled, buoyed by U.S. tariffs on steel and aluminum.

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Fastener Sales Strengthen at Fastenal

October 22
01:39 2018

Fastenal warned that “challenges remain from inflationary pressures and new tariffs on Chinese-sourced goods.”

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Bossard Reports ‘Vigorous’ U.S. Sales

October 22
01:34 2018

Increased sales “due to increased demand from the largest U.S. electric vehicle manufacturer” (Tesla).

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Sales Up, Profit Down at Grainger

October 22
01:09 2018

Volume and price increased partially offset by a decline from foreign exchange and the impact of hurricanes.

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SHORTTAKES: Industrial Threaded Products, Kanebridge Corp., Mid-States Bolt & Screw, Norm Fasteners, Stanley Engineered Fastening and Würth Industry North America

October 22
00:26 2018

Industrial Threaded Products promoted Clay Weaver to COO. Weaver joined ITP 15 years ago and has 30 years of fastener experience – including as purchasing manager and director.   Annie...

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Trump Imposes Tariff on $200b of Chinese Goods, Including Fasteners

September 24
22:44 2018
    Trump Imposes Tariff on $200b of Chinese Goods, Including Fasteners

The additional tariffs take effect September 24, 2018, and initially will be in the amount of 10%. Starting January 1, 2019, the level of the additional tariffs will increase to 25%. 

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Lindstrom Acquires Stelfast

September 24
21:51 2018

Lindstrom’s Yeargin: The acquisition expands both Lindstrom’s “physical footprint and product offering” and Stelfast’s Simmi: “These two companies are uniquely suited to serve our customers” and “we are eager to demonstrate this to the market.”

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Taiwan Fastener Exports Set Records In H1

September 24
21:19 2018
    Taiwan Fastener Exports Set Records In H1

Taiwan fastener exports set records in export volume, price and value during the first half of 2018, ChinaFastener.Info reports. Fastener exports from Taiwan could see increased gains in the second half of 2018 if U.S. President Donald Trump applies additional tariffs of 10% on $200 billion worth of Chinese exports, including fasteners.

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Trump Tariffs Prompt Immediate Fastener Price Hikes

September 24
19:49 2018
    Trump Tariffs Prompt Immediate Fastener Price Hikes

“Section 301 tariffs act as a tax, and effective immediately, the replacement costs of all of BBI’s imports of affected items will have increased by 10%. As a result, we have increased our pricing respectively to absorb the cost increase,” Brighton-Best International stated in a letter to customers dated September 18.

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FDI Moderates in August

September 24
18:05 2018
    FDI Moderates in August

“The overall tone of qualitative commentary was again more cautious this month, with respondents expressing some tariff-related uncertainty, and the potential for a loss of momentum,” writes R.W. Baird analyst David Manthey.

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