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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.
2024 scholarship winners are Alexis Phillips, Eurolink Fastener Service; and Victoria Weaver and Lindsey Weaver, both of Ken Forging.
Forward Industrial Products supplies C class components, VMI services and MRO services from its facility in Birmingham, England.
Deal enables Swedish manufacturer to produce automotive fasteners with 60-80% recycled scrap from end-of-life products.
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.
