Fastenerblog.net

Wow, tomorrow is June.  Not quite halfway through the year, but we are getting close.  Time is flying.  I plan to attend Fastener Tech ’15 which runs from June 8-10 and in a lot of ways it is coming at a good time.  It will be good to catch up with people, some who I will not have seen since the Vegas Fastener Show last October.

Fastener Tech is held in a great industrial area.  Chicago is still a hub of fastener manufacturing and distribution and a natural place to hold a show.  I wrote a quick note to Mid West Fastener Association Executive Director, Nancy Rich, just to see how big the show will be this year and, as of this writing, there will be 177 exhibitors and attendance is expected to be between 1500-2000 people.  There will be a golf outing, the Fastener Training Institute will conduct a Fastener Technology Workshop, a panel discussion presented by Eric Dudas and the FCH Sourcing Network, and several other seminars that can we found on the MWFA website at www.MWFA.net.  This year they will also feature a Technology Center with Manufacturers of Fastener Machinery where you will be able to see machines in action.  Nancy and her MWFA group always do a great job with this show and it continues to grow each time it is held biennially.

So, the show itself should be great.  But that is only one reason for wanting to go there.  Another is to hear what is going on in the fastener industry.  Whether it has been during an interview on Fully Threaded Radio or just scuttlebutt in the industry, several large companies have made known the fact that they want to grow and many wish to acquire other companies.  Lindstrom acquired Titan near the end of last year and is now no longer just Lindstrom Metrics.  That was pretty big news.  They are playing in the inch market now.  BBI purchased EZ Socket earlier this year and, while not a huge acquisition, it was significant because another source of socket head cap screw products was taken off the market.  Those two acquisitions have impacted the market, but neither was a game changer.  Right now there is not a lot of talk on the street about any other upcoming deals, but I’m sure there are people talking to other people as I type this.  Realistically, I would probably not be the one to hear about this first (nor should I be) and I would not put it out there if I did hear something.  This is not a fastener news site.  But the first five months of 2015 have been kind of quiet and that is another reason a show like Fastener Tech ’15 is good for the industry.  It is another good networking opportunity.  People can talk with other companies and compare what each is seeing in the marketplace regarding sales activity, etc.  People change jobs and it is good meet their replacements and hear about the places they have moved to.  It will be a good mid year check up.

At Fastener Tech, the Young Fastener Professionals will be getting people to fill out their survey on Attracting and Retaining Employees, and then soon after the show they will be preparing their data for a presentation they will hold in Las Vegas in October.  Look for them at the show and fill out one of their surveys.  They will also be kicking off the next “30 Under 30” campaign which they do in conjunction with the Fastener Industry Coalition (FIC), so find them for that too if you are or know a good candidate for that program.   See you all in Chicago in a few weeks!

The North Coast Fastener Association just held its 7th Annual Distributor Social.  The day consisted of a tour of ND Industries, a “lunch and learn” session on Fastener Failures conducted by Element, a fastener association roundtable discussion, a presentation by the NFDA on their Profitability Study and a Panel Discussion moderated by one of the dynamic voices of Fully Threaded Radio, Eric Dudas.  Oh yeah, and then there was the three hour long Distributor Social!  By all accounts, it was a great success.

One of the highlights was the Panel Discussion with Eric Dudas.  I have been to quite a few panel discussions and usually find them to be pretty enjoyable.  This one was different.  The panel was made up of Brian Musker (Fully Threaded Radio and Fasteners Clearing House), Ryan Kertis (Stelfast and President of Young Fastener Professionals) and Bob Baer (V.P. at Abbott Interfast and member of the Mid-West Fastener Association board).  Dudas took a risk by recruiting these three thoughtful, but not widely recognized fastener gentlemen.  None of them has their last name on a building or own large multi-national fastener companies.  They have not been on the usual rotation of panel discussions held across the country by other fastener organizations.  But these three forward thinking individuals made numerous interesting and thought provoking observations, and when the event concluded I heard a few people comment it was the best panel discussion they had attended.  I would concur.

In October, at the Vegas Fastener Show, Ryan Kertis and the Young Fastener Professionals will be presenting the results of their year long survey on attracting and retaining employees, specifically in the fastener industry.  Ryan let a few of his observations sneak out while answering questions on the NCFA panel and I would highly encourage anyone going to the Vegas Show to make time to attend his presentation.

Another highlight of the day was the NFDA Profitability Study presented by former NFDA President, Kevin Reidl of Hodell-Natco.  Kevin was an excellent presenter, but what he presented was truly eye opening.  I am not an NFDA member but I would encourage any and all distributors to go to their website and participate in the survey.  To participate in the survey is FREE and if you participate you will be given the report results along with some industry comparisons to your individual company.  This is quite a generous overture by the NFDA as you do not have to be an NFDA member to participate and get the benefits of getting a copy of the report.  And, all information you share goes directly to the company doing the survey and not to the NFDA.  It is completely confidential and specific information is destroyed immediately after the data is extracted.   Little hint — if you want to be a higher profit company, you’d better watch those operating expenses!!

I will try to share some of the other highlights from the “Fastener Summit” but you can get a glimpse of some of the day by checking out the NCFA Facebook page.

Also, thanks to the gang from Branam Fastening who set up a golf simulator in the Distributor Social conference room.  That was an awesome twist on a good event and the proceeds were donated to a very good cause.  And, I hit a golf ball within 13 feet of a Par 3 hole which is something that ain’t ever happened on a real golf course!!