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HEADLINES
Show management for the 8th International Exhibition for the Fastener & Fixing Industry reports 960 exhibitors from 44 countries for the 2019 three-day event. Fastener Fair Stuttgart is open Tuesday,...
Comstock Park, MI-based Straight Drive Fasteners distributes fasteners, adhesives, tools, MRO and accessories.
Registration has opened for the second Fastener Fair USA, set for May 22-23, 2019, at the Cobo Center in Detroit.
Founded in 1965, Smith Fastener distributes industrial fasteners and ancillary products throughout North America from locations in West Virginia, Pennsylvania and Texas.
Equipment includes multi-die headers, nut formers and tappers, pointing machines, and other screw, bolt, specialty fastener and cold forming manufacturing machinery.
Peter Sullivan is retiring from AFC Industries. Sullivan was president of Accurate Fasteners, which was acquired by AFC Industries in 2017. Sullivan was the 2005-2006 president of the National Fastener...
“Tariffs had a small impact on sales and profits in 4Q18, but a greater impact on our inventory growth,” the company stated. “Discussions with customers about addressing tariffs have been encouraging.”
For 2019, Würth expects mid-single-digit growth in sales and a proportionately higher operating result.
“Key accomplishments included U.S. segment volume growth of 8%, a profitable fourth quarter for the Canadian business and double-digit revenue growth for our single channel businesses,” stated CEO DG Macpherson.
During 2018, ITW revenue rose 3.3% to $14.8 billion, with operating margin slipping to 24.3%.
“We made substantial investments into innovations, market reach and our infrastructure, laying the foundation for long-term profitable growth," stated CEO Christoph Loos.
After two consecutive years of double-digit growth, the FIN Fastener Stock Index contracted in 2018, hampered by volatility that dominated the markets, making 2018 the worst year for stocks in a decade.
In the first 10 months of 2018, China exports of standard fasteners increased 14.5% in volume and 31.7% in value, Fastener World reports.
The last time the U.S. imposed a global tariff on imported steel was in 2002 under President George W. Bush. The 30% tariff ended the following year after the WTO ruled the Section 201 remedy violated global trade practices. According to one independent study, the 2002 Bush steel tariffs cost 200,000 jobs because of higher steel prices.
Würth’s project in Haiyan will focus on warehousing, logistics and hardware.
November Fastener Distributor Index decelerates on weaker sales trends.
“We are very thankful our emergency procedures were effective, and there were no injuries,” stated president Leonard Kiely.
Click on Obituaries.
The first fastener machinery trade show was in Atlanta in 1981. IFME will be May 13-16, 2019, in conjunction with InterWire.