Global Fastener News

HEADLINES

Loose Bolts to No Bolts: Boeing Probes Continue

January 29
14:37 2024
    Loose Bolts to No Bolts: Boeing Probes Continue

“The door plug that blew off the Max 9 was removed for repair then reinstalled improperly by Boeing mechanics at the Renton assembly plant,” reports Dominic Gates for the Seattle Times.

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FINdex Rises 44% in 2023 as Markets Stabilize

January 29
13:55 2024
    FINdex Rises 44% in 2023 as Markets Stabilize

The FIN Fastener Stock Index roared back in 2023, more than doubling gains by related industrial stocks in a rocky economic year that produced a “recovery” in U.S. industrial fastener demand.

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FAA: More Boeing Oversight on 737 Max 9

January 29
12:19 2024
    FAA: More Boeing Oversight on 737 Max 9

In addition to increased oversight of Boeing and auditing production of the 737 Max 9 jetliner, the Federal Aviation Administration may use an independent third party to oversee Boeing’s inspections and its quality system.

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PennEngineering Acquires Sherex

January 29
10:54 2024
    PennEngineering Acquires Sherex

Sherex president Adam Pratt will assume the role of president of Sherex and ATLAS, and Alex Hsiao will continue as GM of Sherex Taiwan.

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Global Fasteners Market Growth Estimate Rises

December 29
23:46 2023
    Global Fasteners Market Growth Estimate Rises

The upturn remains “fragile” from ongoing uncertainty around the war in Ukraine, the sluggish decline in global headline inflation, and continued food and fuel inflation in developing countries, a new report found.

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NFDA Panel: AI Attracts Young Employees

December 29
22:52 2023
    NFDA Panel: AI Attracts Young Employees

Adopting Artificial Intelligence can be important in hiring younger employees who want a “forward thinking company,” panelist Lonni Kieffer of SmartCert explained.

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Michigan Subsidizes EV Bolt Factory

December 29
21:46 2023
    Michigan Subsidizes EV Bolt Factory

State officials approved more than $5 million in incentives for a 365,000 sq ft manufacturing facility owned by Turkey-based Norm Fasteners.

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FDI Signals Fastener Market ‘Recovery’

December 29
20:34 2023
    FDI Signals Fastener Market ‘Recovery’

Results “indicative of a true stabilization and recovery in fastener markets for the first time in quite a while,” according to R.W. Baird analyst David Manthey.

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HPF Acquired By Italian Firm

November 29
23:20 2023
    HPF Acquired By Italian Firm

Deal to acquire Houston Precision Fasteners would allow Bologna-based Poggipolini to accelerate growth in aerospace and defense industries.

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Fastenal Fastener Sales Resume Decline

November 29
22:09 2023
    Fastenal Fastener Sales Resume Decline

Except for a brief increase in September, fastener sales at Fastenal Co. have declined five of the last six months.

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FDI Rebounds Amid Steadier Market Trends

November 29
19:23 2023
    FDI Rebounds Amid Steadier Market Trends

Soft economic landing tone emerges: “I am beginning to be a bit more confident that the long-promised recession isn't coming,” a respondent noted.

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FINdex Remains Strong Despite Q3 Decline

November 01
13:51 2023
    FINdex Remains Strong Despite Q3 Decline

While the FIN Fastener Stock Index lost 0.9% of its value in the third quarter, gains remain solid for the first nine months of 2023.

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U.S. Supreme Court Declines Fastener Tariff Appeal

November 01
13:28 2023

The high court turned away PrimeSource Building Products' appeal of a lower court's decision to uphold a 25% tariff on fasteners and other steel derivatives.

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Fastener Price Gains To Slow Through 2027

November 01
13:11 2023
    Fastener Price Gains To Slow Through 2027

After years of volatile raw material prices, material and energy costs have stabilized, making price increases smaller than during the pandemic.

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Optimas Opening Fastener Plant in Mexico

November 01
12:53 2023
    Optimas Opening Fastener Plant in Mexico

Cold form fastener facility in Monterrey will continue Optimas Solutions' “near-shoring” efforts to minimize supply chain risk.

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EVs Central to Auto Strike

September 28
23:31 2023
    EVs Central to Auto Strike

Automotive executives and analysts characterize the evolution to EVs as the biggest technological transformation since Henry Ford introduced his moving assembly line in 1913.

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IFE Names 6 to Fastener Hall of Fame

September 28
22:49 2023

The International Fastener Expo Hall of Fame announced six fastener professionals will be inducted on October 10 during the annual trade show in Las Vegas.

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MWFA Panel on AI: Watch What Partners Do

September 28
21:52 2023
    MWFA Panel on AI: Watch What Partners Do

Digital marketing consultant tells Mid-West Fastener Association: “Your competitors are jumping at artificial intelligence.”

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FDI: U.S. Fastener Demand Rebounding

September 28
20:10 2023
    FDI: U.S. Fastener Demand Rebounding

Three of the four Fastener Distributor Index indicators (sales, employment and supplier delivers) improved, while customer inventories declined.

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‘Snowmen’ Add to 737 Issues

August 28
23:41 2023
    ‘Snowmen’ Add to 737 Issues

Improperly drilled holes, called "snowmen" because of their elongated shape, were filled with fasteners on some 737 Max planes before passing quality inspections at Spirit Aerosystems.

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