The FINdex increased 10% during the year, lower than the 12.8% rise in stock value by an index of related industrial stocks. Fastenal achieved the highest stock gain, rising 32.1% during the year.
HEADLINES
January 07
20:13
2021
Andy Cohn, a reluctant fastener “kid” who stayed 46 years in the industry, announced the sale of Duncan Bolt to an Employee Stock Ownership Plan.
January 07
18:49
2021
BIAFD importer members say they now have major backlogs at factories, which cannot be shipped to the UK and Ireland due to the lack of containers.
January 07
12:59
2021
“The complaint has provided evidence that imports of the product under investigation from the country concerned have increased overall in absolute terms and in terms of market share,” Fastener + Fixing Magazine reports.
January 07
11:23
2021
Duncan told GlobalFastenerNews.com that the biggest change in the fastener industry during his career was the sourcing of imported fasteners from Japan to Taiwan to China. He watched as the world moved away from domestic fasteners.
October 19
10:30
2020
Demand for industrial fastening solutions is driven by “tremendous manufacturing and construction growth” in countries such as India and China, supported by “favorable demographics, large indigenous consumption, and a supportive regulatory and investment environment.”
October 19
06:04
2020
The FIN Fastener Stock Index continued its 2020 roller coaster ride in the third quarter, gaining a modest 13.2% after rising 26.7% in the second quarter and falling 30.3% in the first quarter.
October 19
04:00
2020
“There are two powerful things in business that really cannot be engineered: Synchronicity and chemistry,” Phil Matten reflected on his fastener career as he retires as editor of Fastener + Fixing Magazine.
October 19
03:58
2020
Strandquist started in the fastener industry in 1986 with Rockford Products. He had been with Würth from 2001 to 2019, where he served as executive VP of the Würth Group and CEO of Würth Industry North America. He joined Optimas as President of the Americas in January 2020.
October 19
02:55
2020
The increasing number of employees working from home due to the pandemic has heightened a problem for Pacific-West Fastener Association members, a cybersecurity consultant said in a webinar.
October 19
01:49
2020
Avantus Aerospace acquired two fastener companies in recent weeks: California Screw Products (CalScrew) and Fastener Innovation Technology Corporation (FIT).
October 19
00:39
2020
BBI/Proferred appointed Scott Gibson to Proferred global sales and product director. “Scott will direct Proferred’s sales efforts with our building and drywall customers,” BBI stated. BBI/Proferred also named Larry Unger...
September 22
18:15
2020
WTO rules against U.S. tariffs on fasteners imported from China. The tariffs include bolts, screws and other fasteners (HTS subheadings 7318.11.00 to 7318.29.00) and all Chinese iron and steel nuts.
September 22
09:48
2020
One of the most significant impacts on fastener distributors involves a delayed clause in the act, according to a Pac-West panel.
September 22
06:03
2020
“After two consecutive months of fairly sharp improvements in the FDI, naturally the rate of improvement stalled some in August,” R.W. Baird analyst David Manthey wrote.
September 22
04:16
2020
Duties continue on certain carbon steel screws from China and Taiwan “used to mechanically join two or more elements,” Fastener World reports.
September 22
02:51
2020
Partsmaster offerings include Dyna Systems domestic premium bolts, general Grade 8 and Grade 5 bolts, and stainless steel and metric fasteners.
September 22
02:27
2020
Brighton, MI-based C & B Machinery will operate as a separate entity with its own staff and facility.
September 22
02:04
2020
Brunswick, OH-based Master Distribution supplies channel and pipe fittings as well as related fasteners and accessories such as nuts, clamps, screws, washers, bolts, brackets and post bases.
September 22
01:56
2020
MW Industries parent company American Securities LLC is acquiring NN Inc.’s Life Sciences division and combining it with the Rosemont, IL-based fastener manufacturer.
