Manufactured in Sweden, BUMAX stainless steel fasteners come in tensile strengths from 800 MPa to over 1500 MPa - taking the world’s strongest stainless steel bolts to extremes.
While revenues dropped, both segments that manufacture fasteners improved their margins during the second quarter of 2024.
Supplier award requires delivery performance of over 95% and a commitment to a zero defects culture.
Commercial aerospace market remains "robust" as strong travel demand and an aging aircraft fleet lead to a high backlog at the aircraft OEMs.
Aerospace growth in the second quarter offset market softness in automotive and general industrial.
Todd McRoberts, sales VP at Auto Bolt Company, announced his retirement after 36 years in the fastener industry.
Facing ongoing headwinds in U.S. manufacturing economic activity, only two FIN Fastener Stock Index companies — both aerospace suppliers — achieved stock price gains in the second quarter.
Deal marks “a significant milestone in its strategic expansion plans to serve manufacturers headquartered throughout the greater Midwest and Atlantic regions.”
“Neither guy is going to do our industry any favors,” a U.S. fastener distributor explained as survey results revealed fastener market conditions worsened in June.
Swedish fastener manufacturer selected Star Stainless Screw and Fuller Fasteners as its master distributor partners to supply high-performance stainless steel fasteners in the U.S. and Canada.
Weak industrial product and lower pricing continued to hurt the company’s fastener sales but the rate of decline slowed.
O'Keeffe: “Both have excellent leadership skills and industry expertise and have been preparing to take on these new positions from the start.”
