Jeff Watts Promoted to President and Chief Sales Officer of Fastenal, Dan Florness to Continue as CEO
Fastener News Desk
by Fastener News Desk
3d ago
        July 12, 2024   WINONA, Minn.–(BUSINESS WIRE)– Fastenal Company (Nasdaq: FAST) (the ‘Company’ or ‘Fastenal’) has appointed Jeff Watts, a 28-year Company veteran with deep global sales experience, to the position of President and Chief Sales Officer, effective August 1, 2024. Mr. Watts will assume the President role from Dan Florness, who will be voluntarily vacating the President position on the effective date. Mr. Florness will continue to serve as Fastenal’s CEO and as a member of its Board of Directors. In addition to serving as President, Mr. Watts ..read more
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IN THE NEWS with Fastener News Desk the Week of July 8, 2024
Fastener News Desk
by Fastener News Desk
5d ago
Hello, fastener enthusiasts and industry professionals! Welcome to your weekly roundup of the latest in fasteners—industry news, trends, upcoming events, and scholarships. Let’s dive into this week’s episode of In the News with Fastener News Desk! Reporting the latest news making headlines the week of July 8, 2024. Watch now on FastenerTV at YouTube: (10:23) IN THE NEWS AFC Industries has acquired Birmingham UK based distributor Forward Industrial Products through its TFC Business Unit. Terms of the deal were not disclosed. Forward Industrial Products is an industry leading supplier of C Cl ..read more
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NEFCO Announces Acquisition of Modern Fasteners
Fastener News Desk
by Fastener News Desk
5d ago
        July 10, 2024 – NEFCO, a premier specialty supply partner to the professional construction trades, is excited to announce the acquisition of Modern Fasteners, a Pennsylvania-based distributor in the construction supply industry. This strategic move marks NEFCO’s eighth acquisition since 2022 and expands its branch network to 41 locations – strengthening our commitment to be the single best partner to contractors whenever they build. Modern Fasteners, Inc. was founded in 1970 by William Damm, under the name of Modern Tool & Equipment. In 1998, Modern Tool ..read more
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Look Back at 2014 & 2015 “30 Under 30” Program
Fastener News Desk
by Fastener News Desk
5d ago
          By travelingsalesman July 1, 2024 In 2014, the Young Fastener Professional (YFP) association teamed up with the Fastener Industry Coalition (FIC) to create a program called the fastener “30 Under 30”. The YFP was founded by Ryan Kertis and it was his coordination with the FIC that led to establishing the program. The program ran in 2014 & 2015 and then it was put on pause as so many young fastener professionals had been recognized in those two years. Candidly, there were only so many young people entering the fastener industry and they feared that by ru ..read more
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Fastener Distributor Index (FDI) | June 2024
Fastener News Desk
by Fastener News Desk
5d ago
  The Fastener Distributor Index (FDI) survey for June, 2024 dipped very slightly but remained in positive territory coming in at 52.1 after reading 52.9 in May, seasonally adjusted. Likewise, the Forward Looking Indicator (FLI) dropped to 50.9.   Key Takeaway: The seasonally adjusted Fastener Distributor Index (FDI) saw a slight m/m decline, 52.1 vs. 52.9 in May, but remained in expansionary territory (>50). Commentary was mixed as some saw good order trends, while others characterized June as fairly weak. Looking ahead, this month’s Forward-Looking Ind ..read more
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IN THE NEWS with Fastener News Desk the Week of July 1, 2024
Fastener News Desk
by Fastener News Desk
6d ago
IN THE NEWS with Fastener News Desk the Week of July 1, 2024 Hello, fastener enthusiasts and industry professionals we’re LIVE in the FastenerTV studio! Welcome to your weekly roundup of the latest in fasteners—industry news, trends, upcoming events, and scholarships. Let’s dive into this week’s episode of In the News with Fastener News Desk the Week of July 1, 2024 Watch now on FastenerTV at Youtube: (11:52) IN THE NEWS During the recent Rapid+TCT additive manufacturing event Würth Additive Group (WAG), an innovator in digital supply chain solutions and part of the global leading Würth Gro ..read more
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AFC Industries Acquires UK Based Distributor Forward Industrial Products
Fastener News Desk
by Fastener News Desk
1w ago
July 3, 2024 AFC Industries has acquired Birmingham UK based distributor Forward Industrial Products (Forward Industrial Products Group) through its TFC Business Unit. Terms of the deal were not disclosed. Forward Industrial Products is an industry leading supplier of C Class components, vendor managed inventory services and MRO services, with a focus on enhancing the productivity and effectiveness of its customers’ manufacturing operations. Forward provides a range of value-added services as well as both standard and custom items and engineered products. Birmingham-based Bracebridge Corpora ..read more
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A New Era in Additive Manufacturing: Würth Additive Group, Raise3D, and Henkel’s Collaborative Venture
Fastener News Desk
by Fastener News Desk
1w ago
        NEWS PROVIDED BY: Würth Industry North America Jun 26, 2024, 10:30 ET LOS ANGELES, June 26, 2024 /PRNewswire/ — During the Rapid+TCT additive manufacturing event, Würth Additive Group (WAG), an innovator in digital supply chain solutions and part of the globally leading Würth Group in fasteners, MRO, safety, and physical inventory solutions— announced a strategic partnership with Raise3D, a leading 3D printing hardware and consumables manufacturer, and Henkel, renowned for adhesives and Loctite additive resin materials. This collaboration signifies the s ..read more
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Manufacturing PMI® at 48.5%; June 2024 Manufacturing ISM® Report On Business®
Fastener News Desk
by Fastener News Desk
1w ago
  NEWS PROVIDED BY: Institute for Supply Management Jul 01, 2024, 10:00 ET New Orders and Backlogs Contracting; Production and Employment Contracting; Supplier Deliveries Faster; Raw Materials Inventories Contracting; Customers’ Inventories Too Low; Prices Increasing; Exports and Imports Contracting TEMPE, Ariz., July 1, 2024 /PRNewswire/ — Economic activity in the manufacturing sector contracted in June for the third consecutive month and the 19th time in the last 20 months, say the nation’s supply executives in the latest Manufacturing ISM® Repo ..read more
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Bossard Acquires the Innovative Fastening Technology of Dejond
Fastener News Desk
by Fastener News Desk
1w ago
        Zug, July 1, 2024 – The Bossard Group expands its market position with innovative fastening technologies by acquiring the Belgian company Dejond Fastening NV (“Dejond”). Dejond Fastening NV, headquartered in Antwerp, employs 68 people and expects net sales of around EUR 15 million for the current financial year. With its own brand Tubtara® , the company is one of the leading manufacturers of blind rivet nuts and specializes in the distribution of high-quality fastening systems. Tubtara® is a pioneer in innovative solutions for sheet metal, profiles, composites and ..read more
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