2010 Delivers Measured Success for Fastener Industry
FEATURE
Field Fastener was one of several fastener companies to expand in 2010
Acument Global Technologies announced the reopening of its Fenton, Michigan, facility in early 2011.
The news caps a year of recovery as the fastener industry emerged from the global recession leaner and focused on new business amid an upturn in automotive demand.
Acument Gains Footing As Economy Rebounds
Acument Global Technologies will reopen its Fenton, MI, facility in early 2011 to serve as the company’s North American Technical and Processing Center.
Troy, MI-based Ring Screw LLC, a subsidiary of Acument Global Technologies Inc., will expand its operations with a $5.1 million investment, Crain’s Detroit Business reports.
“(Acument) will generate about one-third of our total sales in Michigan this year, so the state is fundamentally important to us,” Acument director of corporate communications Timothy Weir told FIN.
Holo-Krome ‘Back From The Brink’
In the months since Fastenal acquired it, socket head fastener manufacturer Holo-Krome has been revitalized.
After surviving a 40% drop in revenue during 2009, during which Fastenal bought the company from Danaher, Holo-Krome is making plans to move into a new facility in Wallingford, CT.
Bossard Doubling Headquarters Logistics Center in Switzerland
The Bossard Group will nearly double the size of its logistics center in Züg, Switzerland to increase efficiency and provide for growth targets.
Bossard will spend CHF 22 million (US$22.9m) to expand the logistics center and install inventory management and conveyor systems. It will improve supply reliability for customers using automated logistics direct to assembly lines.
HTI Launches Socket Screw Division
Heads & Threads International launched a new division – Socket Screw Supply – to expand its socket products. “S3” will stock a full line socket products, including new sizes and pack quantities, standard and nonstandard sizes, inch and metric, and Nylon patch, pellet & plated products.
Rail Fastener Producer Amsted Eyes New U.S. Production
Fastener and undercarriage rail components manufacturer Amsted Rail may reopen its Alabama wheel manufacturing facility in Jefferson County after nearly a decade of idling.
“This commitment towards increasing our capacity would ensure that Amsted Rail is prepared to support our long term strategic customers as business volumes return,” said William O’Donnell, Senior Sales and Marketing VP for Amsted Rail.
National Spotlight Continues for Cardinal Fastener
CEO John Grabner credited Cardinal Fastener’s expansion to manufacture wind turbine bolts for producing a “significant,” sustainable recovery for his company.
“This year alone, in a three-month timeframe, we increased our employment 47%,” Grabner stated. “And that’s just to keep up with the demand of supplying the product for construction of the new wind turbines.”
Field Fastener Expanding As Derrys Celebrate 20 Years
Field Fastener Supply Co. plans to double its facility space in Machesney Park, IL, in the face of rising sales.
“We’re working right now with the Village of Machesney Park to put an addition on to more than double the facility because things are continuing to be really good, business is strong,” vice president Jim Derry stated.
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