Global Fastener News

HEADLINES

FINdex Drops in Q2 Amid Market Uncertainty

July 26
23:11 2022
    FINdex Drops in Q2 Amid Market Uncertainty

The FIN Fastener Stock Index declined 13.4% in the second quarter of 2022, besting a 14.1% drop by an index of related industrial stocks during a quarter of market volatility and ongoing supply disruptions.

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NFDA Panelists: Supply Chain Faces ‘Bumps’

July 26
22:29 2022
    NFDA Panelists: Supply Chain Faces ‘Bumps’

Shipping has improved but Star Stainless Screw president Tim Roberto said “ports can’t handle” the shipping as is and “any little bump down the road” creates larger problems.

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June FDI Grows at “Measured Pace”

July 26
21:39 2022
    June FDI Grows at “Measured Pace”

“Demand remains strong for now but softening ahead seems to be the consensus,” according to R.W. Baird analyst David Manthey.

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Economist Tells NFDA: “Don’t See Recession”

July 26
20:12 2022
    Economist Tells NFDA: “Don’t See Recession”

“We at ITR Economics don’t see a recession coming,” economist Lauren Saidel-Baker told the National Fastener Distributors Association. There may be a “soft landing” from today’s strong economy, but not a recession.

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White House Weighs Tariff Rollback on Chinese Goods

June 21
23:13 2022
    White House Weighs Tariff Rollback on Chinese Goods

Facing the highest price hikes in 40 years, President Joe Biden is deciding whether to roll back some of the tariffs imposed on Chinese goods, including fasteners, in 2018, according to senior administration officials. 

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Vogelsang Marking 50th Anniversary in U.S.

June 21
22:55 2022
    Vogelsang Marking 50th Anniversary in U.S.

The Vogelsang name entered the North American fastener industry in 1972 distributing Rollpins made in Europe by Joerg Vogelsang.

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Adam Derry Named Field Fastener President

June 21
22:01 2022
    Adam Derry Named Field Fastener President

Three Derrys have been president of the National Fastener Distributors Association since Jim Derry and Bill Derry acquired Field Fastener in 1990 from Dick Field.

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Endries Acquires Store Room Fasteners

June 21
21:57 2022

Founded in 1984, Store Room provides VMI, sub-assemblies and kitting and has been ISO 9001 accredited for 14 years.

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FDI Flattens Amid May Slowdown in China

June 21
20:58 2022
    FDI Flattens Amid May Slowdown in China

The sales index declined, with participants attributing lower revenues to “difficulties getting overseas containers/materials into ports amid further slowdowns from China.”

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SHORTTAKES: Birmingham Fastener, BBI, Hillman, Packer Fastener, Sherex and TR Fastenings

June 21
19:00 2022

Birmingham Fastener promoted Rodney Holmes from sales manager to VP of sales. Holmes, who has 17 years fastener sales experience, will oversee sales of 10 companies nationwide. Founded in 1980,...

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Birmingham Fastener Buys Champion Sales & Mfg.

May 17
21:49 2022
    Birmingham Fastener Buys Champion Sales & Mfg.

Magnolia, TX-based Champion Sales & Mfg. produces mechanical joint, push-on and other gaskets for the waterworks industry.

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Traveling Rep Started Advance Components in 1972

May 17
20:58 2022
    Traveling Rep Started Advance Components in 1972

The business was “his thing,” and Doug Berry’s daughters had followed their own paths until 2006.

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U.S. EV & Hybrid Sales Nearly Doubled in 2021

May 17
20:19 2022
    U.S. EV & Hybrid Sales Nearly Doubled in 2021

Traditional internal combustion vehicles still dominate, but BloombergNEF predicts electric vehicles will total 70% of the U.S. light vehicle market by 2040.

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Soft Sales Slow FDI Growth in April

May 17
19:56 2022
    Soft Sales Slow FDI Growth in April

A general market slowdown, limited material availability for specialty fasteners, lower “panic buying” and Spring Break-related softness weighed on fastener sales growth last month, according to R.W. Baird analyst David Manthey.

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Fastener Sales Mixed in First Quarter

May 17
18:57 2022

Publicly-traded fastener companies reported fluctuating sales driven by varying market conditions.

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SHORTTAKES: Birmingham Fastener, Optimas, Ramco, Vulcan Steel, Wrentham Tool and Zago Mfg.

May 17
17:02 2022

Birmingham Fastener hired Baron Yarborough as GM of Champion Manufacturing, a rubber gasket manufacturer that Birmingham Fastener acquired in April. Yarborough and his team will be working closely with Birmingham...

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U.S. Opens Freight Data Portal

April 14
13:05 2022
    U.S. Opens Freight Data Portal

The Department of Transportation launched a new data sharing initiative to speed up delivery times in the supply chain, reduce delays and lower costs for consumers.

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Pac-West: July Strike Could Cripple L.A. Port

April 14
12:45 2022
    Pac-West: July Strike Could Cripple L.A. Port

Jun Xu of Brighton-Best International, Tim Roberto of Star Stainless Screw and Chris Donnell of Scanwell Logistics were panelists at the 2022 Pac-West spring conference.

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Economist at Pac-West: Economy ‘Hot Until It Is Not’

April 14
12:30 2022
    Economist at Pac-West: Economy ‘Hot Until It Is Not’

The economy is back and even “overheated,” which can lead to cyclical risks, economist Christopher Thornberg said.

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Fastenal Co. Fastener Sales Rise 25% in Q1

April 14
12:15 2022
    Fastenal Co. Fastener Sales Rise 25% in Q1

Fastener daily sales increased 24.6% in the first quarter of 2022, boosted by strong growth in March.

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