Global Fastener News

2007 FIN – IFI’s Beach: Fastener Industry Is Healthier

June 23
00:00 2013

June 13, 2007 FIN – The new chairman of the Industrial Fasteners Institute finds the “health of the industry is better than a couple years ago.” Steve Beach, vice president of sales at Acument Global Technologies, noted, “Most of us have taken the fat out and have lean operations today. We have flexible operations.”

Fastener manufacturers are meeting financial benchmarking, Beach added.
The IFI is healthier too, Beach told  In addition to “robust members,” the organization is operating in the black with reserves for one or more years, Beach pointed out.
The board of the organization of North American fastener manufacturers and their suppliers are beginning work on a three-year strategic plan. All IFI programs are being studied, Beach noted.
Among the goals the IFI has already identified is reducing dependence on dues by increasing “non-dues revenue.” Beach wants a “lot more value creation” by the IFI for members plus a “pretty aggressive membership drive.”
Despite an overall healthy industry, Beach sees possible trouble spots such as a potential Ford bankruptcy triggering supplier troubles through the tiers. And higher raw material prices worry fastener manufacturers. Though the scrap indexes have been “climbing north,” Beach is hopeful that the trend will subside soon.
On other issues manufacturers are particularly concerned about the aging of the workforce and the fragility of the supply base, Beach observed.
The political picture is qualm with the Berry Amendment “quieted down,” Beach noted. The IFI is watching the “card-check bill” which has passed the U.S. House. H.R 800 would amend the National Labor Relations Act easing the method of forming, joining or assist unions and providing mandatory injunctions for unfair labor practices during organizing.
Beach’s own employer is doing well too, he declared. After Platinum Equities acquired Textron Fastening Systems last year the fastener company was rebranded as Acument. “We met our plan for the first quarter,” Beach reported. Sales are up. The company has a more regional focus with separate business units and “the transition has been positive.” Beach started with Textron 26 years ago. E-mail: Web: ©2007/2013 Fastener Industry News.
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Related Links:

• Industrial Fasteners Institute

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