"2024 is a time for bold action — but the imperative for such action has changed dramatically," according to the Specialty Tools and Fasteners Distributors Association.
Deal marks “a significant milestone in its strategic expansion plans to serve manufacturers headquartered throughout the greater Midwest and Atlantic regions.”
Founded in 1987, Ohio-based Creative Assembly Systems is a value-added supplier of fasteners, C-parts, material management systems, and sequencing operations.
He began his fastener career in 1977 in production before being promoted to customer service/order process manager and then to production control manager.
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Cleveland-based legacy fastener manufacturer can now produce custom cold-formed long and large-diameter fasteners, in addition to its range of cold-formed internally threaded fasteners.
While weak industrial product and lower pricing continued to hurt the company’s fastener sales, the rate of decline slowed.
Sales “strongly influenced by the economic situation, which is particularly noticeable in the manufacturing units that supply to the automotive industry.”
Distribution Solutions Group will offer “high-touch, specialty distribution platform” with the convenience of branch locations across the country.
Deal marks NEFCO’s eighth acquisition since 2022 and expands its branch network to 41 U.S. locations.
New sales manager for Kentucky, Michigan, Ohio, and West Virginia spent 15 years with Earnest Machine.
“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 vs. May.
