IN THE NEWS with Fastener News Desk the Week of March 6, 2023
I’m Lisa Kleinhandler Editor in Chief at #FastenerNews Desk. Here’s what’s happening in #fasteners industry the week of March 6, 2023.
Lots of acquisition activity…The following deals were announced.
Wrought Washer Mfg. announced that they have completed the acquisition of Diversified Tooling Innovations. The acquisition of Diversified Tooling expands and strengthens Wrought Washer’s CNC and tooling capabilities. Diversified Tooling will be operated separately as a wholly owned subsidiary of Wrought Washer.
EFC International Announced that they have acquired St. Louis-based Inventory Sales Company. Financial terms of the deal were not disclosed. EFC is owned by Frontenac a Chicago based private equity firm.
SPIROL announced the acquisition of Ford Aerospace, based in the United Kingdom. Ford Aerospace specializes in manufacturing high precision metal components and sub-assemblies for the aerospace, industrial, and high-technology sectors.
Colony Hardware has announced the acquisition of New South Construction Supply a South Carolina-based value-added #distributor of rebar, concrete, masonry, waterproofing products, and contractor supplies. The acquisition represents Colony’s 12th acquisition since partnering with Audax Private Equity in November of 2018.
Economic activity in the #manufacturing sector contracted in February for the fourth consecutive month following a 28-month period of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. “The February Manufacturing PMI® registered 47.7 percent, 0.3 percentage point higher than the 47.4 percent recorded in January.
The #IndustrialFasteners Institute Annual Meeting began Sunday and will be happening through March-7th in Napa, CA.
PAC-WEST – SPRING DINNER MEETING AND VENDOR SHOWCASE Thursday, March 9, 2023 from 5:00-8:00PM. Dinner meeting includes panel discussion Adapting to the 2023 Fastener Climate. 2023 is bringing new challenges to the #fastenerindustry.
If you’re attending the Pac-West Vendor showcase you won’t want to miss the opportunity to join fastener friends for a fun day of golf at the Pac-West Fastener Associations’ 2023 Mel Kirsner Spring Golf Outing taking place Friday March 10th in La Habra, CA.
Fastener Fair Global 2023 is set for a strong comeback showcasing technological developments in a fast-moving market. After four years, Fastener Fair Global 2023, the 9th international event dedicated to the fastener and fixing industry, returns to Stuttgart from March 21st – March 23rd .
The Fastener Training Institute has a scheduled upcoming webinar. Corrosion Resistant Fasteners & Stainless Steel Fastener Specs. The webinar will take place on Thursday, March 23, 2023, 11:00 a.m. to 1:30 p.m. PT
Thursday, March 23, 2023, NEFDA will host their annual Bowling Party. The party will be held at High Rollers at Foxwood Resort & Casino. Attendees will enjoy Bowling, Dinner & Drinks, Prizes and Fun! For more information go to https://www.nefda.com/events/
Fastener Training Week in Cleveland, OH will take place April 3-7th. The Fastener Training Institute and the Industrial Fasteners Institute (IFI) continue their partnership to present Fastener Training Week — This robust program includes five days of education and plant tours as part of the acclaimed FTI Certified Fastener Specialist™ (CFS) advanced technical training program.
Women in the Fastener Industry accepting applications for Margaret Davis Scholarship. Scholarship application submission will offer WIFI Members requesting financial assistance to attend Fastener Fair USA. Member Applications are due by April 5th, 2023.
Dirk Beveridge of UnleashWD has announced the first human resources event for distributors, designed to challenge traditional thinking on HR and help independent distributors win the war on talent. Registration is now open for the UnleashWD Human Resources Summit for distributors, April 27-28, 2023 in Nashville, Tenn. Register now: https://events.unleashwd.com/HRSummit
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Until next week, be well, be safe and Keep it Fastenating!