9/27/2011 1:19:00 AM
HEADLINES
Fastener Demand on the Rise
Recent expansions and hiring point to a positive trend in the fastener industry: strong demand for a range of threaded and non-threaded products.
• The Industrial Fasteners Institute reported U.S. fastener imports increased 29.9% in value to $2.09 billion during the first six months of 2011, while U.S. fastener exports also posted strong gains during that period, rising 16.9% in value to $1.44 billion.
• Allfast Fastening Systems has hired 40 new workers in the past six months, the Whittier Daily News reports. Company president and owner Jim Randall projects another 100 employees will be added over the next year.
“The biggest cost for airlines is fuel, so they need to buy newer, more fuel-efficient planes,” Randall stated. “Eighty-five percent of all airplane sales are going to China, Brazil or Middle Eastern countries that have money.”
• Grainger reported daily sales grew 10% in August. Nearly all of that was organic growth — 9% — which included 8 percentage points from volume, 3 percentage points from price and 1 percenta ge point from sales related to Hurricane Irene.
Sales in the U.S. rose 8% during August, while sales in Canada jumped 21%, boosted by a 14% gain in local currency. Sales in other parts of the world collectively gained 23% during the month.
• Aerospace fastener distributor Bisco Industries Inc. expanded its operations with new sales facilities in St. Louis, MO, and Norcross, GA.
Founded in 1973, Bisco distributes fasteners and electronic components for the aerospace, communication, computer, fabrication, industrial equipment, instrumentation, marine and military industries.
• Hi-Tech Fasteners Inc. is expanding into Canada. The Frederick, MD-based fastener and electronic hardware distributor launched Hi-Tech Fasteners–Canada, which includes a sales office in the greater Toronto area to serve customers throughout the country.
• Stelfast unveiled a new branch in Los Angeles. Stelfast has branches in Illinois, New Jersey, Georgia, Texas, Ontario, Quebec and Alberta.
• The Precision Metalforming Association announced an increasing number of manufacturers anticipate little or no change in general business conditions this fall.
However, the PMA’s September Business Conditions Report showed increased shipments in the past quarter.
The Report registered 51.0 – down 1.5 points as a growing number of manufacturers see little to no change in general business conditions over the next 3 months.
Shipments this summer jumped 5.0 points to 53.0 on an increase in the number of manufacturers reporting increased shipment activity.
PMA reported new orders picked up 2.5 points to 56.5.
Lead times were on par with August’s reading, and more manufacturers find customers are paying at the same rate or more promptly than the previous month.
BB&T Capital Markets summarized the PMA September report as reflecting “a stabilization of manufacturers’ expectations, which dropped sharply last month.” ©2011 GlobalFastenerNews.com
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