1/4/2010
HEADLINES
Top 10 Fastener Stories of 2009
Big companies made big news in the fastener industry during 2009. Boeing, Nucor Fastener, Acument Global Technologies (formerly Textron Fastening Systems) – all made waves in a challenging year.
From trade disputes to delayed test flights, FIN takes a look back at a busy year. (Click headlines to read articles)
Nucor Fastener made waves in 2009 by filing antidumping and countervailing petitions against certain standard fasteners from China and Taiwan, then appealing the unanimous trade commission verdict against those claims.
The world got a glimpse of a fastener plant when U.S. president-elect Barack Obama visited Cardinal Fastener in Cleveland on January 16, 2009, enroute to his inauguration. Several industry veterans told FIN they could not remember any other presidential visit to a fastener facility. (January 21 FIN).
Several companies made sizeable acquisitions in 2009 – Emhart Teknologies parent Black & Decker merged with Stanley Works; A Raymond of France bought Tinnerman Palnut; and LISI Automotive offered to take over two Acument Global Technologies automotive fastener plants, to name a few.
The mismarking of 1/4, 5/16 and 3/8 inch hex head cap screws manufactured by Tycoon Worldwide Group led to a U.S. Customs & Border Protection Agency investigation. (March 2, March 23 and April 13 FIN)
Acument Global Technologies to close the Camcar Aerospace/Rockford operation (November 10 FIN); Anchor Bolt & Screw Company closed after 57 years (September 2 FIN); Ingersoll Fasteners shuttered after prolonged auto slump (May 11 FIN); Hillman Group closes New York distribution center (January 13 FIN).
After an “abysmal” year in 2008, the 2009 FIN Fastener Stock Index gains back most of its losses.
Recession cuts show participation
The recession reduced participation at most fastener association meetings and industry trade shows during 2009. The 2009 National Industry Fastener Show/East was canceled. The number of booths for the 2009 NIFS/West fell 29.5%; distributor registration was down 23.4%; overall registration fell 19.7%; and overall attendee registration slumped 16.3%. (December 7 FIN)
The biennial Fastener Tech 09 dropped from 165 booths in 2007 to 127 booked for 2009 and the International Fastener & Precision Formed Parts Manufacturing Exposition totaled 57 exhibitors – down from 100 in 2007. (June 30 FIN)
“World’s Largest Fastener Show” title changes hands
Fastener Fair Stuttgart grew in total number of attendees (5,993 people entered the doors), exhibiting companies (625), exhibit space (equivalent to more than 1,076 booths) and staff (2,210), making the show in Germany the new “World’s Largest Fastener Show.” (December 7 FIN)
The Los Angeles Fastener Association and Western Association of Fastener Distributors approved a “unification” to become the Pacific-West Fastener Association. (June 30 FIN).
Dreamliner finally takes flight
Boeing made its first test flight of the fuel-efficient 787 Dreamliner in December, delayed for almost two and a half years by fastener shortages and misapplications, along with design faults and a two-month labor strike. ©2010 GlobalFastenerNews.com
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• Cardinal Fastener Gets $480k Tax Credit To Expand Wind Turbine Bolt Production
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