Decision to lay off 250 workers comes weeks after a fire gutted SPS Technologies' Pennsylvania aerospace fastener factory, complicating Boeing production.
International Fastener Expo owner Emerald X appoints new show director, replacing Morgan Wilson, who led the show for four years.
While tariffs are cited by U.S. President Donald Trump as a tool to boost domestic manufacturing, analysts say the market picture is more complicated.
Germany-based Böllhoff cited the presence of tier 1 automotive suppliers, as well as Bulgaria's “strong sheet metal and aluminum processing industries.”
Specialty Tools and Fasteners Distributors Association: “Sudden tariff changes can drive up costs overnight, disrupt supply chains, and create financial strain.”
He has a 30+ year blend of technology (hardware and software), finance, marketing and industrial experience.
Effective March 20, a new quality control order will halt all steel fastener imports since no foreign manufacturers have received Bureau of Indian Standards certification.
British & Irish Association of Fastener Distributors credited fastener veteran as “the driving force behind BIAFD over the last 20 years, helping to guide the association through significant industry developments.”
U.S. steel buyers face 10-15% price increases due to 25% steel and aluminum tariffs on metals from Canada and Mexico.
“Building incremental (domestic steel) capacity takes time, working capital, and people, all of which are already in short supply.”
February fire that destroyed 105-year-old fastener factory puts Boeing commercial production at risk, along with maintenance for Apache Longbow and Blackhawk attack helicopters, Tomahawk missiles, and F-15 fighter jets.
Strong customer demand in North America and Europe for RB&W cold-formed fasteners drives revenue and margin gains.
