1979 FIN – Sullivan 1st Chairman of New England Fastener Distributors Association
FASTENER HISTORY
Jack Sullivan – Accurate Fasteners. Rick Ferenchick – Lehigh Metal Products Corp. which is now Lehigh-Armstrong, Inc. Rick is now with Arnold Industries, Inc. Edward Otto – retired, formerly with Fasteners Inc., which is no longer in business, Don R. LaRochelle – deceased, formerly with Eckart & Finard. Robert Herman – deceased, formerly with the Jacques Co., which is no longer in business. Walt Collyer – formerly with Precision Socket Screw. John Gianakouras – Fastener Supply, which is now Integratech Distribution.
November 19, 1979 FIN – The New England Fastener Distributors Association is a newly formed group serving the fastener distributors of Massachusetts, Rhode Island, Connecticut, Maine, New Hampshire and Vermont.
Jack Sullivan of Accurate Fasteners Inc. of Boston is the first president and Walter Collyer of Precision Socket Screw, Bellerica, Mass. is chairman of associate members.
The first official meeting was held at the Pleasant Valley Country Club in Sutton, Mass – between Worcester and Boston.
Forty companies have joined the organization.
NEFDA is made up of regular members (distributors) and associate members (manufacturers, manufacturer reps and wholesalers) with only distributor members having voting rights.
Regular company members must have been actively engaged in fastener distribution for at least three years, have at least 75% of its sales in the New England area and an inventory of fasteners, which are sold by inside and outside salesmen.
Sullivan summarized progress in organizing the association and plans for future meetings. He said there would be two meeting each year – with the annual meeting in the spring and another meeting in the fall.
Sullivan introduced officers: Rick Renenchick, Lehigh Metal Products Co., Cambridge, MA, vice president; Bob Herman, Jacques Co., Boston, secretary; and Don Larochelle, Eckart-Fenard Inc., Hartford, Conn., treasurer.
Associate vice chairman is Alan Jeffrey, Whitney Screw Co., Nashua, N.H.
The remainder of the board of directors are: John Gianakouras, Fastener Supply, Watertown, Mass.; Fred Shuman, Arnold Industrial Supply, Dedham, Mass.; and Ed Otto, Fasteners Inc., Newington, Conn.
Guest speakers were Dr. Jim Thornblade, international economist, First National Bank of Boston; Neil Finnegan, senior vice president, National Shawnut Bank; and Dr. Richard Cromwell, chief investment officer, First Boston Co.
The speakers discussed the current economic situation and how New England fits into that situation; how to deal most effectively with banks and/or venture capital institutions; the energy outlook; and possible ramifications of a value added tax (VAT) if such a tax is enacted in this country.
The first meeting gave evidence of a lot of preparation on the part of the NEFDA officers and directors. If well begun is half done, the new association is well suited to become an important force in the domestic fastener distributing industry. ©1979/2010 Fastener Industry News.
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