The FIN Fastener Stock Index rode the twin forces of lower inflation and expanded manufacturing to solid growth in the opening quarter of 2024.
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U.S. President Joe Biden called for tripling the existing 7.5% tariff on Chinese steel and aluminum imports.
Final anti-dumping measures against steel fastener imports from China range from 32.5% - 67.4%.
The Industrial Fasteners Institute elected Dan Curtis of MacLean-Fogg to lead the board as Chairman, and Larry Spelman of J.H. Botts as Vice Chairman.
Company says its new service can provide parts across the globe in a matter of minutes.
Passengers aboard a Boeing plane that made an emergency landing after a fuselage panel blew off in January have received letters from the FBI identifying them as possible victims of a crime, Reuters reports.
Despite initial setbacks due to the pandemic, fastener demand has rebounded, driven by resumed manufacturing and construction activities worldwide, according to a new report.
Reports indicate that the Biden administration will look to rebalance the tariffs on Chinese fasteners and other goods, potentially reducing those that are not in the U.S. interest.
National Transportation Safety Board investigators said four bolts that hold the door plug in place on the Boeing 737 Max 9 were missing at the time of the January 5 blowout on Alaska Airlines flight 1282.
“While there continues to be a healthy mix of both bulls and bears, on balance we felt commentary skewed slightly more optimistic this month.”
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.
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.
Sherex president Adam Pratt will assume the role of president of Sherex and ATLAS, and Alex Hsiao will continue as GM of Sherex Taiwan.
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.
Adopting Artificial Intelligence can be important in hiring younger employees who want a “forward thinking company,” panelist Lonni Kieffer of SmartCert explained.
State officials approved more than $5 million in incentives for a 365,000 sq ft manufacturing facility owned by Turkey-based Norm Fasteners.
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.
Deal to acquire Houston Precision Fasteners would allow Bologna-based Poggipolini to accelerate growth in aerospace and defense industries.
Except for a brief increase in September, fastener sales at Fastenal Co. have declined five of the last six months.
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.