Global Fastener News

NEWS BRIEFS

Nucor Reports Record Earnings

October 18
11:24 2018

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

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Sales Up, Profit Down at Grainger

October 16
13:09 2018

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

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Equity Firm Acquires Prestige Stamping

October 15
12:59 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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Tariffs Session Added to 2018 IFE Program

October 12
14:13 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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XL Screw Marking 50th Anniversary

October 11
17:17 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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Bossard Reports ‘Vigorous’ U.S. Sales

October 11
13:48 2018

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

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Fastener Sales Strengthen at Fastenal

October 10
11:39 2018

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

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Kanebridge’s LaPoma Sleeping Outside To Raise Money for Homeless Youth

October 09
15:09 2018

The Kanebridge executive said he decided to join a group of people with Covenant House “in an attempt to experience what many of our homeless youths experience every night, 12 months a year.”

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Tesla Fastener Supplier Opening 1st U.S. Operation in Lansing

October 09
13:27 2018
    Tesla Fastener Supplier Opening 1st U.S. Operation in Lansing

Norm Fasteners, which supplies fasteners for Tesla’s new Model 3 as well as parts for John Deere, will open a distribution center in Lansing that will create between 15 to 20 jobs, according to the Lansing State Journal.

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Kotynia Leads Mid-States’ ISO Certification

October 07
23:27 2018

Michigan-based distributor with seven locations now led by Somers brothers.

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Stanley Engineered Fastening Expanding

October 03
11:34 2018

Decorah, IA, plant expansion reportedly will increase the size of the building by 9% for product inventory.

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Lawson Acquires Dallas-Based Screw Products

October 02
00:23 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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Weaver Promoted to ITP COO

October 01
14:18 2018

Founded in 1979 by Ron Futrell, son Garrett Futrell took full ownership of Industrial Threaded Products this year.

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FINdex Bounces Back in Q3

October 01
12:46 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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WINA Names New CEO

September 26
10:52 2018
    WINA Names New CEO

Dan Hill will succeed Marc Strandquist on October 1st.

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Bufab Reports Strong Growth and Improved Margin

September 25
12:08 2018

“We need to strengthen our gross margin through further price increases,” noted CEO Jörgen Rosengren.

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Abbott-Interfast Marking 70th Anniversary

September 20
06:22 2018

Since Martin “Marty” Binder opened the doors on September 21, 1948, Abbott has secured over 25 patents – though the company is best known for yellow nylon insert locknuts.

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Würth DMB Opens Distribution Center

September 19
13:10 2018
    Würth DMB Opens Distribution Center

Würth Des Moines Bolt (DMB) opened a regional distribution center in Kansas City, MO, to expand its industrial fastener division.

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BBI Wins Awards For Drywall Screws & Wrench

September 18
11:58 2018

Proferred tool engineers worked with the Brighton-Best Taiwan factory to design Drywallerz screws for tighter drive tolerance and sharp points for less wobble and faster installation.

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SWD Expanding Metal Finishing Plant

September 16
23:55 2018

Delawder: "The automotive lightweighting initiative has pushed the fastener industry to produce smaller, higher strength fasteners."

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