Global Fastener News

HEADLINES

Taiwan’s China Steel Corp. Cuts Prices

December 10
00:35 2019
    Taiwan’s China Steel Corp. Cuts Prices

CSC said steel makers have seen profitability hurt by increased costs of ironmaking raw materials and the sharp decline in steel product prices.

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Arconic Fastener Segment Sales Rise

December 10
00:24 2019

Third-quarter results included 8% organic gain “driven by aerospace engine, defense and commercial transportation growth.”

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Obituary: Jim Zehnder, 84, Earnest Machine

December 10
00:17 2019
    Obituary: Jim Zehnder, 84, Earnest Machine

He alternated the CEO role of Earnest Machine Products Co. with his brother, John. The company was founded in 1948 by their father, Paul Zehnder.

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U.S. Fastener Demand At 2.7% CAGR Through 2023

November 19
09:11 2019
    U.S. Fastener Demand At 2.7% CAGR Through 2023

Growth will be strongest in aerospace-grade fasteners, the report found. Increasing demand from end users beyond aerospace equipment for stronger, better performing fasteners will also support rapid gains.

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US Tariff Exemption Process Includes Chinese Nuts

November 19
07:44 2019
    US Tariff Exemption Process Includes Chinese Nuts

The new exclusion request process indicates U.S. tariffs on Chinese fasteners and other products are unlikely to be removed or reduced for at least the next 12 months.

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Simmi: Importers Can Only Absorb So Much

November 19
04:07 2019
    Simmi: Importers Can Only Absorb So Much

More tariffs could be coming: The October 5% increase is ‘still pending’ and December could bring determination on threaded rod and stud tariffs.

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STAFDA’s Baird Describes “Distribution Revolution”

November 19
02:34 2019
    STAFDA’s Baird Describes “Distribution Revolution”

In some ways, small distributors are similar to the original 13 colonies, according to STAFDA President Sean Baird.

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FDI Decelerated in October

November 19
02:03 2019
    FDI Decelerated in October

“Sales trends were slightly improved on an unadjusted basis, but the seasonal-adjustment factor drove the sales index down (month-to-month),” according to R.W. Baird analyst David Manthey.

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NFDA Members Told to Change to Strategic Alliances

November 19
01:46 2019
    NFDA Members Told to Change to Strategic Alliances

Resideo’s Sachs: Developing strategic alliances between suppliers and customers, allows you to “adapt to market conditions together.” Sachs worked such an alliance between Honeywell and Field Fastener.

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Strandquist: Prepare In Advance to Sell Your Company

November 19
01:04 2019
    Strandquist: Prepare In Advance to Sell Your Company

Some owners have started “hot” to sell and went “cool” upon realizing their lives would change to “counting dollars and clipping coupons” after leaving the distributorships they built, Marc Strandquist told National Fastener Distributors Association members.

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Bader: Changing Verbiage Can Change Your Company

November 19
00:39 2019
    Bader: Changing Verbiage Can Change Your Company

Jason Bader suggested to the Pacific-West Fastener Association that the warehouse should be referred to as “the vault.”

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SHORTTAKES: Fastenal, Optimas Solutions and Worldwide Fastener Sources

November 19
00:15 2019

Fastenal Co. plans to build an office in downtown Winona, MN, that is expected to have space for 400-600 employees, the Winona Daily News reports. Designed by The Kubala Washatko...

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Bufab Acquiring American Bolt & Screw

November 19
00:05 2019
    Bufab Acquiring American Bolt & Screw

Founded in 1946, Ontario, CA-based ABS distributes fasteners and C-class components in North America.

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Trade Truce With China Defers Fastener Tariff Hikes

October 28
15:07 2019
    Trade Truce With China Defers Fastener Tariff Hikes

The duties, originally set to increase October 1 to 30% from 25% on the goods, including bolts, screws and other fasteners manufactured in China, had been delayed two weeks “as a gesture of goodwill.”

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Immigrant Vitus Boker’s Company Turns 100

October 28
08:51 2019
    Immigrant Vitus Boker’s Company Turns 100

Vitus’ tooling knowledge led to manufacturing prototypes and custom parts for automated machinery, eventually developing into short-run stampings.

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TIFI: Taiwan Fastener Industry In ‘Decline’

October 28
07:13 2019
    TIFI: Taiwan Fastener Industry In ‘Decline’

The industry “may not (see) good conditions” until the second quarter of 2020, according to Taiwan Industrial Fasteners Institute (TIFI) chairman Tu-Chin Tsai. He noted that Taiwan fastener manufacturers have superior technology, quality and lead times, but can’t compete on price with low-wage countries such as Vietnam and Malaysia.

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Stanley, Palmquist To Lead Pac-West

October 28
05:07 2019
    Stanley, Palmquist To Lead Pac-West

Stanley served as Pac-West VP in 2018-19 and was the 1997-99 president of the Western Association of Fastener Distributors – the predecessor to Pac-West.

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NFDA Honors Queenin

October 28
04:59 2019
    NFDA Honors Queenin

In 1982 Queenin began his fastener career at Specialty Bolt & Screw. He and his sons, Jay and Jon, eventually purchased SBS. Today Massachusetts-based SBS has three distribution centers in the U.S. and three in Mexico, along with facilities in Canada, Finland and Taiwan.

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Nov. 10 Deadline for Discount Registration for December Fastener Training Week

October 28
04:48 2019

The program includes five classroom and plant tour days. Topics include manufacturing processes consensus standards and quality control.

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FDI Unchanged In September

October 28
04:02 2019
    FDI Unchanged In September

“Better sales trends were offset by a weaker employment reading,” according to R.W. Baird analyst David Manthey.

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