Fastener Industry News No. 1 2023

PERSPECTIVE

Taiwan’s China Steel Corp. Reduces Wire Rod Prices

Taiwan’s China Steel Corp. has announced the price of wire rod is down in its latest price adjustments for steel products. The price of wire rod – including low carbon, medium-to-high carbon, cold forged and low alloy – most relevant to fastener manufacturers will be reduced by NT$1,500 (US$48.7) per metric ton, Taiwan-based Fastener World magazine reported.

However, the price of automotive material will rise US$16.23 per metric ton. The average price adjustment for all steel products will be -0.83%, Fastener World reported.

In other wire rod price news:

Yieh Hsing Enterprise Co. hiked wire rod prices. The domestic price of carbon steel wire rods gained NT$1,000/ton, and the 304 stainless steel wire rod price rose NT$6,000/ton. The export price of 304 wire rods increased US$200/ton. Yieh Hsing attributed wire rod price increases to higher raw material costs caused by China easing its epidemic prevention policy, “as well as continued destocking.”

Ryerson.com speculated that with China accounting for 60% of global wire rod demand, prices could rise with the lifting of zero-Covid restrictions. China prices are up about 10% with more increases expected. China iron ore prices are up about 25% since the beginning of November.

China’s steel wire rod production available to the U.S. has declined.

INSIDE

2 - Sundram Fasteners wins $250m EV deal

4 - Fastenal fastener growth moderates

6 - Field merges with Mid-State Bolt & Nut

FINdex Bests Industrials Amid Market Turmoil

During 2022, fasteners remained a comparatively safer investment in a year when markets convulsed on economic data that increasingly warned of recession, causing the Dow to fall nearly 9% while the S&P 500 lost 20% of its value for the year.

The FIN Fastener Stock Index lost 11.5% during 2022, besting a 15.5% decline by an index of related industrial stocks.

Amid the uncertainty, at least four publicly-traded companies with fastener products achieved nearly double-digit gains, though significant losses were more likely.

Howmet Aerospace rallied to a 17.1% increase during 2022, topping the FINdex for the year.

Howmet reported Fastening Systems revenue grew 15% to $291 million in the third quarter of 2022 “due to growth in the commercial aerospace market of 24% with narrow body recovery more than offsetting Boeing 787 production declines, as well as an increase in material cost pass through.”

Nine-month Fastening Systems revenue improved 5.5% to $832 million, with adjusted EBITDA down 1.6% to $176 million and margin of 22%.

RENEWABLES Renewable Energy A Fastener Industry Trend

Sustainable energy made inroads in the fastener industry in 2022. Electric vehicle and hybrid automotive sales in the U.S. nearly doubled in 2021. EV sales rose 83% to 434,879, while hybrid automotive sales climbed 76% to 801,550. EVs are estimated to total 70% of the U.S. light vehicle market by 2040.

Such strong market growth caught the eye of prominent fastener manufacturers looking to capitalize on the trend.

In the past four months, France-based ARaymond acquired two companies — CGA Technologies SRL and Costello Italia SpA — to bolster its EV fastener product offerings.

“The automotive industry is shifting to electric and autonomous vehicles, and we want to actively contribute to this extraordinary transition,” stated CEO Antoine Raymond.

Meanwhile, Chin Well signed a 25-year solar power purchase agreement to fuel their fastener manufacturing operations in Asia. Chin Well

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Luciano wins WIFI honor - p3

WOMAN of the YEAR

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fasteners are exported to Europe (60%), the U.S. (30%), Japan (5%) and South East Asia (5%).

The installation of the solar power generating facilities reportedly will reduce Chin Well's energy expenditure and carbon footprint. Both plants are expected to achieve commercial operation by the fourth quarter of 2022.

The news wasn’t all positive for EV fasteners.

Rivian Automotive recalled more than 13,000 vehicles after flagging a problem with its steering system.

The EV manufacturer explained that a fastener connecting the upper control arm and steering knuckle may have been installed incorrectly. If “insufficiently torqued,” the issue could create excessive wheel camber.

The recall of the 2022 Rivian R1T, R1S, and EDV models represents about 90% of vehicles produced by the automaker thus far and more than half of its 2022 total production guidance of 25,000 vehicles.

Sundram Wins $250m EV Contract

Chennai, India-based Sundram Fasteners won a $250 million (Rs2043.25 crore) contract by a global automobile manufacturer to supply sub-assemblies for its electric vehicle (EV) platform, the company reported.

The deal is the biggest contract in its 60-year history and one of the largest won by a supplier in India for this range of products for an EV platform.

The company plans to invest Rs200 crore to handle new orders under the six-year purchase package involving the supply of input and stator shaft sub-assemblies and drive gear sub-assemblies.

Sundram Fasteners will ship the parts from its powertrain divisions located at Mahindra World City in Chengalpattu, Tamil Nadu, and Sri City in Tirupati district, Andhra Pradesh. The parts will be serviced from its warehouse in North America.

SFL produces 1.5 million transmission subassemblies annually.

“The $250-million supply contract, one of the largest in India, is a further testimony to our commitment to manufacture and supply high-quality industry-leading products,” stated managing director Arathi Krishna.

Founded in 1966, Sundram Fasteners provides fasteners and other components for the automotive,

infrastructure, windmill and aviation sectors in India, China, Germany, the U.S., the UK, Italy, France and Brazil. Web: Sundram.com

Bossard Eyes North America For Growth

The Bossard Group reported record sales in 2022, driven by double-digit growth in the U.S.

Fourth-quarter sales in the U.S. increased 43.5% to CHF 80.2 million (US$86.5 million) as the Swiss fastener manufacturer “significantly” expanded its market presence in Canada by acquiring PennEngineering's Canadian distribution business. Terms of the deal were not disclosed.

Bossard said the acquisition is in line with its strategy to “expand its capabilities in the U.S.”

Founded in 1970, PENN Engineered Fasteners Corp. (PEF), based in Concord, Ontario, Canada, was acquired by PennEngineering in 2017. The company supplies fasteners to automotive, energy, agriculture and appliances markets, generating annual sales of $25 million with 30 employees. Web: PennEngFast.com

Other U.S. developments helped as well, including production achievements at Bossard customer Telsa.

“In the electromobility sector, exciting commercial vehicle projects were implemented,” the company stated.

Full-year U.S. sales climbed 36.8% to CHF 309.4 million.

Meanwhile, Q4 growth in Europe slowed, with sales up .8% to CHF 141.2 million amid high demand despite continuing geopolitical tensions. Full-year growth rose 8.7% to CHF 624.2 million.

Results in Asia were impacted by the lifting of COVID restrictions in China and the resulting wave of infections. Q4 sales in Asia gained 5.4% to CHF 54.8 million.

Bossard noted that the situation in China “continues to cause uncertainty.”

For the year, Bossard consolidated revenue rose 15% to CHF 1.15 billion, including a 13.3% increased to CHF 276.2 million in the fourth quarter.

During the year, Bossard experienced a stronger trend toward nearshoring and an increased demand for Smart Factory Assembly (SFA) solutions amid inflation and a skilled labor shortage. However, the strong Swiss franc slowed growth.

Züg, Switzerland-based Bossard will publish its 2022 annual report on March 1. Web: bossard.com

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December FDI Sinks to Lowest 2022 Level

After rebounding in November, the seasonally adjusted Fastener Distributor Index dropped to its lowest level of 2022 in December.

The FDI dropped to 43.8 last month falling below October’s 44.3. Likewise, the sales index was “significantly softer” compared to November, with just 16% of respondents indicating sales were better than expectations vs. 34% in November, wrote R.W. Baird analyst David Manthey (CFA) with Quinn Fredrickson (CFA). All four subcomponents of the FDI (sales index, employment, supplier deliveries, and customer inventories) declined.

The Forward Looking Index rose to 45 reading, a slight improvement vs. last month (42) but signaling additional weakening ahead (still sub-50 reading).

The employment index was also softer vs. last month, but improvement in the six-month outlook more than offset, leading to slight overall m/m improvement in the FLI.

On the outlook specifically, 26% of respondents anticipate activity levels will be higher six months from now vs. today, albeit off December’s low base (lowest FDI since March 2020). “This level of optimism remains modest compared to the 47% average seen over the past two years,” according to Manthey and Fredrickson.

Conversely, 29% expect lower activity levels (November was 45%) vs. an average of just ~13% over the past two years. Finally, 45% expect a continuation of December trends over the next six months.

Zago Mfg. VP Luciano Named WIFI Woman of Year

Women in the Fastener Industry Association named recipients of its 2022 awards.

Jackie Luciano, VP of Zago Manufacturing, was named 2022 Woman of the Year.

“It was truly an honor to receive this award!,” Luciano stated. “Thank you so much to WIFI for their continued support and for giving exposure to women in manufacturing. WE are definitely changing the industry!”

Itzela Vasquez of Stock’d Supply was named 2022 Woman in Business.

STOCKS Würth Record Results Start Earnings Season

The Würth Group reported record results for 2022, kicking off an earnings season likely to produce as much loss as gain for the fastener industry.

Sales increased 17% to EUR 19.95 billion. Adjusted for currencies, sales grew 15.1%. Net income gained 14% to EUR 1.5 billion.

“We are operating in difficult economic and political conditions: The war in Ukraine, material and supply shortages, and price increases continue to be challenging,” stated chairman Robert Friedmann. “I would therefore like to thank our more than four million customers worldwide for their trust in our services and our suppliers for their cooperative partnership.

“At the same time, we can rely on the strength of our corporate culture, the solidarity of all employees and, of course, the support of a family business in times of crisis. This gives us the necessary stability.”

“Thank you WIFI, I am immensely grateful to belong to such an outstanding association and honoured to receive this special award from you,” commented Vasquez. “There are so many women in our industry I look up to and respect, my biggest appreciation goes to you, our fellow WIFI members, who have worked hard over the years to strive to make a difference.

“Thank you! I am delighted and consider myself lucky to be part of WIFI.”

Tom Massar of American Fastener Journal was given the Man Up award for his commitment to supporting women and WIFI organization.

“I’m honored to receive this award and happy to support all the great things WIFI does for the fastener industry,” Massar stated. “It’s funny because I have two daughters and they said you’re one of us now, dad.”

For more information about WIFI, visit fastenerwomen.com.

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The most common theme among participants in their outlook commentary was expectations for flat to lower revenue trends in 2023.

The FDI employment index fell to 50 for December vs. 57.9 in November.

“Employment levels continue to be seen as generally at appropriate levels (74% of responses), while just 13% said employment levels were too high and 13% said they were too low.”

Forward-looking commentary remained relatively cautious on the whole. Respondents generally seem to be forecasting flat to lower revenues in 2023.

“We have grown over 60% since 2020, but I doubt this will continue in 2023 as I foresee revenue flat or lower through 4Q23.”

Another respondent said, “Really have no idea but recent trends and industry experts forecast a softer year. With demand softening and inventories in good position, it seems like activity has to be slower in the first half at least.”

Commentary on shipping constraints was mixed, with significant improvement registered overseas (“Shipments from Asia to USA are improving on cost and timing”) but domestic challenges continue (“Domestic trucking issues are still a problem”).

This month’s supplemental question focused on major trends expected to impact the fastener industry in 2023. A few highlighted examples include:

• heavy consolidation in the structural fastener market;

• difficulty hiring/retaining quality employees;

• U.S./China/Taiwan tension escalation;

• recession fears;

• ongoing logistic challenges;

• and uncertainty on inventory positioning.

The FDI is a monthly survey of North American fastener distributors conducted by the FCH Sourcing Network, the National Fastener Distributors Association and Baird. Web: fdisurvey.com

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Sales in Germany rose 13% to EUR 7.85 billion, while sales outside Germany generated 19.5% growth to EUR 12.1 billion.

The Electrical Wholesale unit was particularly successful, reporting 25% growth. This sector also benefited from the renewable energy boom.

The Electronics Group, selling passive electronic components, circuit boards and electronic and electromechanical solutions, achieved 22.5% sales growth.

The Industry Division of the Würth Line also reported above-average sales growth of 20.1%.

E-business sales grew 21.2%, accounting for 20.7% of total sales.

Würth added 2,454 new employees, a 29.5% increase to 85,637 people, including 43,297 in sales.

Mechanical engineering and the automotive industry remain the sectors most affected by material shortages. In the construction sector, projects are being cancelled or postponed due to rising construction costs and interest rates.

“The current challenges will continue to be an issue in 2023,” Friedmann stated. “It remains to be seen how consumer behavior and energy prices will develop, and what impact China’s relaxed zeroCOVID policy will have on supply chains. Operating in this fragile, interdependent environment will remain a key challenge in 2023. Web: Würth.com

Fastenal Fastener Growth Declines

Fastenal Co. reported fastener sales increased 9.1% to $559.5 million (33% of overall revenue) in the fourth quarter of 2022, down from 24% growth in the final quarter of the previous year.

Q4 results included 6.1% fastener sales growth in December, down from 25.5% in the final month of the previous year.

Consolidated Q4 sales rose 10.7% to $1.69 billion, with operating income up 10.7% to $333 million and net income rising 6.2% to $245.6 million.

Q4 daily sales were led by other products (+12.1%) and safety (+10.7%).

Sales to manufacturing customers grew 16%, while sales to non-residential construction customers fell 0.6%.

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Fastenal reported that Q4 fastener pricing remained stable, while cost increased “slightly.”

Fasteners experienced margin pressure during the period as deflating steel and transportation costs prompted customers to seek price reductions.

“The drag from a price cost standpoint on the fastener side was narrower than what we saw last quarter,” explained CFO Holden Lewis.

Full-year consolidated sales climbed 16% to $6.98 billion in 2022, with operating income rising 19.4% to $1.45 billion and net earnings improving 17.4% to $1.09 billion. Capital spending slowed to $162.4 million on deferred project and equipment upgrades.

During 2022, Fastenal’s international (non-U.S.) business, which includes facilities in 25 countries and 4,500 employees spanning the Americas, Europe and Asia, achieved $1 billion in annual sales.

During the year, Fastenal opened 12 branches and closed 122, including 34 in the final quarter.

Fastenal will release full-year fastener figures in its upcoming annual report. Web: Fastenal.com

Böllhoff Reports Record Sales

German fastener manufacturer Böllhoff Group reported record sales in 2022 as revenues rose 16% to €783 million (US$850.6 million).

“The German economy in general, and the Böllhoff Group in particular, have proven to be extremely resilient in 2022, despite all crises,” stated managing partner Michael Böllhoff. “Overall, we benefited from our position as a strong partner for

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Segment capital expenditures rose 36% to $30 million.

Other FINdex companies recording nearly doubledigit growth during the year included Carpenter Technology (up 13.8%); Nucor Corp. (up 13%); and Grainger (up 9%).

With more modest gains, Chicago Rivet & Machine Co. achieved a 7.3% increase in share value during the year, boosted by continued automotive demand.

But fastener companies saw losses during the year. Fastenal Co. stock dropped 25.7% despite 18.2% fastener sales growth to $614.5 million (34.1% of overall sales) in the first nine months of 2022.

Fastenal outperformed other FINdex companies that suffered significant share loss during 2022.

Topping the list was Stanley Black & Decker, which saw its share value slip 60% despite 15% organic Engineered Fastening revenue in the third quarter of 2022, with growth in the aerospace, automotive and general industrial markets.

Other FINdex companies losing significant share value during the year included Tree Island Steel (down 52%); Park Ohio (down 46%); Simpson Mfg. (down 34%); Dorman Products (down 27.4%); and TriMas Corp. (down 23%).

companies in all sectors and industries – all around the globe.”

Amid soft automotive demand, Böllhoff achieved much of its growth from other industries, with sales growing 15% to €369 million. Aerospace sales more than doubled to €21 million in 2022.

In recent years, the company fully acquired two French aerospace fastener manufacturers: Frenchbased SNEP SA in 2021; and Gillis Aerospace from Dieupentale, France, in 2022.

Böllhoff grew globally last year. Sales in Asia rose 23% to now €96 million, while in the Americas, sales increased 41% to €108 million.

Germany-based Böllhoff is a global fastener group with nearly 50 companies at 36 locations in 24 countries. Web: Boellhoff.com

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ACQUISITIONS

Field Merges With Mid-State Bolt & Nut Company

Field announced that it has merged with MidState Bolt & Nut Co., a full-line fastener distributor headquartered in Columbus, OH. Terms of the deal were not disclosed.

Founded in 1946, Mid-State Bolt & Nut provides supply chain solutions for fasteners and other direct materials. Mid-State Bolt & Nut will now be known as a division of Field. Web: msbolt.com

The partnership expands both companies’ products, services and geographical footprint.

“We’ve known Field and the Derry family for many years, and based on their culture, growth and future vision, we know that our team, customers and suppliers are in good hands by merging with Field,” stated Dave Broehm, President of Mid-State Bolt & Nut.

Broem will step down as president, while consulting on the transition. His two sons currently in the family business, Michael and Andrew, will stay with the company.

“What most impressed me was the quality of the people at Mid-State and their commitment to do whatever it takes to support the customer and one another. You can’t teach this and it very much aligns with the culture of Field. We couldn’t be more excited to welcome the Mid-State team and customer base into the Field family”, stated Adam Derry, President of Field.

Machesney Park, IL-based Field provides inventory management and complete supply chain solutions for fasteners and other Class “C” items. Field currently supplies fasteners in 35 countries from operations in Rockford, IL, Tyler, TX, Florence, SC, Troy, IL, Monterrey and Monclova, Mexico, and Kaohsiung, Taiwan. Web: FieldFastener.com

AFC Buys Motor City Industrial

AFC Industries has acquired Motor City Industrial for an undisclosed sum.

Founded in 1965, Hazel Park, MI-based Motor City and its subsidiaries, Quality Fastener, Smith Fastener and Emco Industrial, provide inventory management services. Web: MotorCityIndustrial.com

Motor City will continue to be led by current management, including CEO Joe Stephens.

“The Motor city acquisition strengthens our depth in a few key areas we were looking to grow,” stated AFC CEO Kevin Godin. “What most impressed us though was the team and the commitment they have to providing excellent service to customers.”

In 2022, AFC Industries acquired four fastener companies: Erie-PA-based Champion Bolt; Oregon Bolt in Tigard, OR; Santa Fe Springs, CA-based Askew Industrial; and TFC Ltd. located in Europe.

Headquartered in Fairfield, OH, AFC Industries provides supply chain management solutions for fasteners, tooling and assembly components to OEMs. AFC services include VMI, stock and release programs, light assembly, kitting and private labeling. Web: AFCind.com

In 2021, AFC Industries was acquired by Bertram Capital. Web: BertramCapital.com

GMS Acquires Brooklyn's Tanner Bolt

Specialty building products distributor GMS Inc. expanded its platform with its first entries in the New York City market.

GMS has acquired Tanner Bolt and Nut Inc. and opened a greenfield location. Terms of the deal were not disclosed.

Founded in the 1950s by Jerry Tannenbaum, Brooklyn-based Tanner Bolt and Nut distributes fasteners, tools, safety and related construction products to the NYC market. Web: TannerBolt.com

The new greenfield location in New York has a dedicated facility focused on the growth of acoustical ceilings business.

“We are pleased to take this first step into such a significant market,” stated CEO John Turner Jr. “With Tanner’s focus on tools and fasteners, these additions, along with the establishment of several new greenfield yard locations and AMES stores over the last several months, represent our continued commitment to the execution of our strategic priorities of platform expansion and complementary product growth.”

GMS has added six new greenfield locations in the past year. Web: GMS.com

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Birmingham Acquires Pacific Coast Bolt

Birmingham Fastener acquired Pacific Coast Bolt Corp. for an undisclosed sum.

With over 80 years of combined fastener production, the acquisition strengthens Birmingham Fastener’s manufacturing diversity and expands its U.S. footprint coast-to-coast with branches from New York to California.

Santa Fe Springs, CA-baed Pacific Coast Bolt manufactures and distributes products to industries such as water, wastewater, chemical, refining and construction. Web: PacificCoastBolt.com

“This strategic initiative further complements Birmingham Fastener’s made-in-America value proposition to our customers, as Pacific Coast Bolt brings a wealth of manufacturing equipment and

Nucor Steel Products Segment Grows

Nucor Corp. reported Steel Products segment results, including fasteners, more than doubled to $1.8 billion in the fourth quarter of 2022. The modest decrease in segment earnings was due to lower volumes and selling prices.

Consolidated net sales decreased 17% to $8.72 billion in Q4 compared with $10.5 billion in the previous quarter, and decreased 16% compared with $10.36 billion in the fourth quarter of 2021.

Average sales price per ton decreased 6%. During Q4, approximately 5,738,000 tons were shipped to outside customers in the fourth quarter of 2022, an 11% decrease. Total steel mill shipments decreased 13%, while steel mill shipments to internal customers represented 20% of total steel mill

overall fastener knowledge,” stated Birmingham Fastener president Brad Tinney. “We are excited to expand westward and honored to heighten the level of customer service for all our partners across America.”

During 2022, Birmingham Fastener acquired two companies: rubber gasket supplier Champion Sales and Manufacturing in Magnolia, TX; and K-T Bolt Manufacturing in Katy, TX.

Founded in 1980, Birmingham Fastener manufactures fasteners for structural steel fabrication, metal building, transportation, water works and utilities, construction, agriculture industries and MRO. The Birmingham, AL-based manufacturer operates distribution centers in Alabama, Florida and Texas. Web: BhamFast.com

shipments. Downstream steel product shipments to outside customers decreased 9% from Q3.

Full-year Steel Products segment results, including fasteners, rose to $4.1 billion.

During 2022, consolidated net sales grew 14% to $41.5 billion. Total tons shipped to outside customers declined 10% to 25,524,000 tons, while the average sales price per ton increased 26%. The average scrap and scrap substitute cost per gross ton used in the full year 2022 increased 5% to $492.

“Looking ahead to 2023, while we recognize there is uncertainty about the near-term U.S. economic outlook, we’re starting to see a number of demand drivers gathering momentum, including the reshoring of manufacturing, large infrastructure investments and grid modernization.” Web: Nucor.com

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SPAX Taps Social Media ‘Influencers’ To Market Fasteners

SPAX Engineered Fasteners uses a network of contractors and craftsmen to showcase projects made with SPAX structural fasteners, driving demand for their products at lumber yards and building supply stores.

SPAX Engineered Fasteners is expanding its marketing through a crew of influencers, a nationwide network of contractors and craftsmen who use social media to showcase projects made with SPAX structural fasteners, driving demand for its products at lumber yards and building supply stores.

While influencer marketing, a form of social media marketing also known as branded content or working with creators, isn’t new, it’s not widely utilized in the fastener industry. But that didn’t stop SPAX.

Marketing director Robert Knecht said the influencer program began with contractor trade shows. SPAX welcomed contractors to drive screws in the SPAX booth. Actual contractors “started seeing” how SPAX installs and began “taking a liking to our brand and posting it on websites.”

Individual woodworkers started posting on Instagram or other social media. Most were timelapse videos.

“We love it when they slow it down and show hard-to-see screw applications,” Knecht said.

The influencers get watched by colleagues looking for tips on “getting around sticky situations” in woodworking.

“Our product line is traditionally big box retail and DIY customers,” Knecht told FIN.

Among pro contractors and advanced DIY-ers who use our fasteners, SPAX has extremely strong recognition and brand loyalty,” Knecht said. “Our goal with the SPAX crew is to build relationships with these influencers and amplify their voices, letting them tell their unique stories about why they choose SPAX.”

“The SPAX crew program aims to engage multiple audience levels, from everyday product users to larger-scale influencers with hundreds of thousands of followers,” Knecht said.

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SPAX crew members share social content about their projects and receive branded SPAX swag and product samples. But most influencers aren’t looking for anything from SPAX, Knecht finds.

“They may gain an audience and respect as an influencer.”

In some cases, SPAX has shared videos and there could be situations where SPAX could compensate influencers.

“Homeowners want to show off their work,” Knecht said.

D’ondra Howard of Workboots & Glasses, a furniture maker and custom woodworker in Sacramento, CA, is a SPAX influencer.

“I’ve been using SPAX fasteners for the two years that I have been creating custom home furnishings,” Howard said. “I like the products and they were easy to get and use. They don’t strip like others I’ve used before.”

SPAX launched a website for its crew influencer program: SPAX.us/SPAX-crew.

The SPAX crew started with about 20 influencers and Knecht says the number has grown to over 300.

Knecht noted that while it’s difficult to show specific sales results from SPAX’s influencer program, there has been sales growth in the channel. The growth also has led to a contractor advisory group where SPAX asks five people for a one-year commitment in advising on products.

Beyond the SPAX marketing team, Knecht credits Interrupt, its Ohio advertising agency.

“It was not on our own. We developed together

TRADESHOWS

with our agency.”

Founded in 1981 as TruFast, SPAX fasteners are German-engineered and manufactured in Bryan, OH, at a 200,000 sq ft facility with engineering, manufacturing, administration and central warehousing. SPAX is owned by Germany-based Altenloh, Brinck & Co. Group. Web: Altenloh.US

850 Companies From 44 Countries Exhibiting at Fastener Fair Global

After four years of postponements due to Covid-19, Fastener Fair Global will return March 21-23 in Stuttgart, Germany.

The trade show had been known as Fastener Fair Stuttgart, but has been renamed “Global” for its 9th biennial trade show.

Show organizers report 850 companies from 44 countries have booked exhibit space.

“After four years since the last edition, it is rewarding to be able to welcome the international fastener and fixing industry,” European Fastener Fairs portfolio director Liljana Goszdziewsk said.

“The high turnout of exhibiting companies confirmed at the event reflects an eagerness for the sector to get together face-to-face and participate in the show to allow plenty of business networking activities and enable new sales and learning opportunities in a fast-growing market.”

Fastener Fair Global is organized by RX Global, which manages 400 events from 43 industry sectors in 22 countries. Related shows are Fastener Fair Italy, Fastener Fair India, Fastener Fair Mexico and Fastener Fair USA. Web: RXglobal.com

Mark and Theresa from MyFixItUpLife.com

SHORTTAKES

Alloy Wire Int’l named Tom Mander as managing director, succeeding Mark Venables, who becomes chairman.

Mander has been with AWI for 17 years.

AWI also announced Bill Graham retired as chairman after 50 years since starting as a maintenance engineer in 1972, leading a MBO, selling the company and then buying it back.

AWI manufactures round, flat and profile wire. AWI sales to U.S. companies rose from $1.8 million for 2020 to $4.2 million for 2021.

Founded in 1946 by John Stockade, AWI is based in West Midlands, UK. Web: AlloyWire.com

“As demand for our fasteners and related services expands into new geographies, this strategically located Colorado facility enables us to get inventory in the hands of customers faster,” said VP Ben Lussier

The Dacono warehouse will serve OEMs in aerospace, electronic components and other advanced manufacturing industries.

The new facility is the company’s second location outside of its warehouse in Skokie.

Founded in 1985 by current President Wally Nathan, BRF supplies fasteners and hardware to North American OEMs out of Chicagoland. Web: BlueRibbonFastener.com

In late 2022, Bulten began shuttering its factory in Pembroke, UK, eliminating 50 jobs.

Total restructuring costs amount to approximately SEK 11 million. Bulten will spend an additional SEK 12 million to relocate equipment and production to other plants.

The Pembroke operation became part of Bulten in 2020 when it acquired PSM Int’l.

Founded in 1873, Swedenbased Bulten supplies fasteners to the automotive industry, with 1,700 employees in 16 countries. Web: Bulten.com

Charter Steel promoted Tom Marry to president and COO for Charter Manufacturing and Joel Casterton to succeed Marry.

David Donald is

operations VP for Arrow Fasteners

Arrow COO Roberto Izaguirre said Donald’s “expertise in leading large global operations make him a perfect fit for our company’s needs.”

Donald has worked in the industry for 35 years, starting as a quality control technician. Most recently he was responsible for development and execution of the industrial business footprint strategy for Stanley Black & Decker’s 65 global manufacturing sites. He holds a bachelor’s in metalurgical engineering from Michigan Technological University.

Founded in 1929, Saddle Brook, NJ-based Arrow manufactures staples, nails, rivets, grommets and glue. Fifty million Arrow T50 staple guns have been sold in the U.S. Web: ArrowFastener.com

Blue Ribbon Fastener opened a 10,000 sq ft warehouse in Dacono, CO, to better serve customers in the western U.S.

Brighton-Best Int’l added manager of U.S. Anchor to Proferred Global Sales and Product director Scott Gibson’s duties.

Gibson will manage U.S. Anchor sales and certifications, as well as support customers and work with buying groups.

BBI also appointed Larry Unger to the position of Proferred National Drywall Account Manager. Larry has been instrumental in growing our Proferred drywall business,” the company stated. Unger will work closely with Gibson to grow Proferred sales on a national level.

BBI is a master distributor and importer supplying 7,000 distributors through 32 locations in seven countries. Owned by TaChen International, BBI is headquartered in Taiwan. Web: BrightonBest.com

Bulten AB will close one of its two logistics centers in Sweden “to maintain a strong operational platform.” The closure is expected to cost approximately SEK 1.5 million.

Marry joined Charter Steel in July 2022 after 20 years in manufacturing, including six as COO of Modine, a $2 billion Wisconsin-based company that provides heat transfer technology to global end-markets.

CEO John Mellowes said Marry “has quickly demonstrated strong alignment to Charter’s culture and values, deep business expertise and has developed the trust and confidence of Charter leadership and employees.”

Marry holds a BS in mechanical engineering from the University of Illinois and an MBA from Northwestern University.

Casterton was promoted from VP for vehicular thermal solutions and heavy duty equipment at Modine Manufacturing Co.

Family-owned Charter Mfg. is a group of metals manufacturing businesses founded in 1936 and headquartered in Mequon, WI, with 2,300 employees. Web: CharterMfg.com

Charter Steel provides steel melting, bar and rod rolling, coil SHORTTAKES continued on Page 11

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processing and wire drawing. Web: CharterSteel.com

After 35 years with Hanger Bolt & Stud, David Fretz is retiring as VP.

Initially Fretz headed fastener sales and marketing before progressing to design and marketing of automatic Drill n’ Drive machines and the HBS wire drawing operation.

Founded in 1967 by L.D. Enterkin with a single threader in a one-car garage, Greenfield, INbased Hanger Bolt manufactures roll-formed headless fasteners division designs and builds production systems for the installation in wood and plastic components such as furniture legs. The wire drawing department supplies material for Hanger Bolt fastener production and other users of steel, brass, aluminum and stainless wire. The 55,000 sq ft facility has a capacity to manufacture a million fasteners per day. Web: HangerBolt.com

International Fasteners Inc. promoted regional manager Tony Strein to national accounts manager.

“Tony has been instrumental in helping the company grow for years and will work closely with the regional teams to help ensure the continued growth,” the company stated.

Founded in 1996, International Fasteners supplies Daggerz brand construction fasteners to distributors. International Fasteners has facilities in six states and is headquartered in Tampa, FL. Web: Daggerz.com

Keith Jones retired as sales VP from INxSQL Software on December 31, 2022.

Jones held many jobs in the computer industry throughout his career, finishing in the fastener

software industry first with IST and for the last thirteen and a half years at INxSQL.

“Keith helped grow INxSQL through his sales and management skills and played a huge role in our success and making us into the industry leader we are today,” said Bob Reynolds, INxSQL co-founder and president. “He’s a true professional and a great person, we will miss him.”

Waterford, MI-based INxSQL was founded in 2003 by a team of people from the distribution software industry. Web: INxSQL.com

Linc Systems named Mick Beyer as CEO, succeeding Kelly Evans, who retired. Beyer was CFO of Henniges Automotive and has 30 years industrial experience.

Craig Russell, who sold his Active Sales Co. to Linc in 2020, also is retiring. Russell was the 2004 STAFDA president.

Founded in 1995, Linc distributes fasteners, pneumatic tools, packaging and MRO products from 11 locations in seven states and is headquartered in Indiana. Web: LincSystems.com

Fastener executive Marc Strandquist joined MRO supplier Martin Inc. as executive VP, Fastening Solutions Division.

Strandquist started in the fastener industry in 1986 with Rockford Products and worked from 2001 to 2019 as executive VP of Würth Group and CEO of Würth Industry of North America. He became CEO at Optimas Solutions in late 2020.

Strandquist has 35 years of experience in the C-Parts industry overseeing companies in Europe, South America and North America.

“Marc is a pragmatic, entrepreneurial, and collaborative business leader who has a proven track record of moving

organizations in the right direction,” stated co-CEO Douglas Ruggles. “I am confident he will help further advance Martin's OEM component and fastening business and deliver on our purpose statement to help companies operate better.”

Founded in 1934, Florence, ALbased Martin Inc. distributes MRO supplies to industrial and construction markets. Web: martinsupply.com

Optimas Solutions completed IATF Certification, adding its center in Pune, India, and new distribution sites in Mexicali, Mexico, and Lockbourne, OH, to the quality assurance process.

“As a team, our entire global organization has worked extremely hard to achieve the IATF certification, representing best-inclass quality management systems for manufacturing, distribution, engineering, and supply chain management,” said Gabriela Gallegos, Optimas VP of Quality.

The IATF 16949 standard provides guidance and tools for companies and organizations who want to ensure that their products consistently meet customer requirements and that quality and customer satisfaction are consistently improved. Web: Optimas.com

Taiwan-based Sheh Fung

Screws has begun construction of a plant in Vietnam to supply North American and European customers. Sheh Fung is investing $23 million in the factory, which it hopes to bring online in early 2024. The phase 1 plant will manufacture 800 tons of mediumto-short sizes of tapping, drilling and coated screws.

A second phase plant is planned.

Founded in 1973, Sheh Fung is based in Kaohsiung and has 300 employees. Web: ShehFung.com

CLASSIFIEDS

Regional Sales Manager

Master distributor and industrial fastener manufacturer HUYETT seeks a developing sales pro as part of a highperformance team for an innovative B2B industrial supply company.

The role entails 40-60% travel covering New York, Pennsylvania, New Jersey, Maryland, Delaware, New England and Canada.

Apply at usfreeagents.com.

General Manager

ServTronics is looking for a selfmotivated GM. Requirements include fastener experience and a business degree.

Send resume to employment@servtronics.com.

Regional Sales Manager

Want to add a high-caliber regional sales manager to the Autocraft Group.

Send resume to gordon.anderson@autocraft-global.com.

Inside Sales Representative

Opening for a dynamic inside sales rep for the S.W. Anderson brand.

Email resume@swaco.com.

Sales Representative

TMK Fasteners seeks a sales rep to service Riverside, San Bernardino, Orange and/or Los Angeles counties.

Email Getnutty11@att.net or call 951-268-6391 with questions.

STAFDA Updates ‘Stan the STAFDA Man’ Logo

The Specialty Tools & Fasteners Distributors Association updated its “Stan the STAFDA Man” blue triangle logo from 1977.

“Stan” has been the front man of STAFDA, which followed a North/South/East/ West logo. New executive director Morrie Halvorsen collaborated with his former advertising contact at ITT Philips Red Head to create a logo conveying construction and incorporating a generic power tool. Halvorsen and his advertising man drafted “Stan” on restaurant napkins.

“Stan Jr.” continues wearing a hard hat and safety glasses but now carries a wrench, and a fastener is riveted in each of the triangle’s corners. The new look was created by graphic designer David Saunders of Industrial Products Ltd. STAFDA is also updating its website to encourage more member engagement. Web: STAFDA.org

Boltun Adding Factory for EV Fasteners

Taiwan automotive fastener manufacturer Boltun plans to add a plant to supply the EV automotive market.

Currently 70% of Boltun’s automotive fasteners are used on conventional vehicles and 30% on EVs. Boltun has shifted toward the EV industry in recent years.

To expand capacity, Boltun plans to build a NTD 1.7b (US$29m), 1.7 million sq ft factory in the Guiren district of Tainan City, Taiwan. Founded in 1988, the name Boltun comes from “bolt and nut.” Web: Boltun.com.tw

CNC Unveils Onsite Wind Turbine Threaded Insert Repair

ISSN# 1085-6730

Machining specialist CNC Onsite ApS unveiled an on-site repair service and tool to replace damaged threaded inserts in wind turbine blade roots, Fastener + Fixing Magazine reports.

“The service, which takes two to three days, avoids lengthy downtime and costly logistics for the turbine operator faced with having to either transport a blade back to the manufacturer for repair, purchase a new blade, or scrap an entire turbine altogether,” writes Fastener + Fixing deputy editor Claire Aldridge. Threaded inserts are critical for joining turbine blades to nacelle hubs but can loosen over time, weakening blade-root structural safety.

Previously, repairs had to be at a turbine maker’s facility and could take months, but now repairs can be made on-site at the wind farm.

Tel: 503 335-0183

Email: FIN@GlobalFastenerNews.com

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