Fastener News Report June 15 2020 Issue Flip Book Edition

June 15, 2020 Volume 6, Issue 6 INSIDE THIS ISSUE New Drill Screws from Triangle........................2 Würth Group Issues €750 Million Bond.......... 2 Torqx Capital Partners Acquires JRC MATT Includes Agrati & Growermetal......2 Fabory Group from W.W. Grainger Sherex Releases Tool Calibration Unit.............3 LISI AEROSPACE Signs F-35 Contract................3 Torqx Capital Partners, a Dutch private equity company has acquired Bulten’s Green Product Line..............................4 Tri-Star’s Fasteners for Ventilators....................4 Fabory Group (FG), a leading European supplier of quality fastener solutions Aerospace Fasteners Growth: 5.89%..............5 and industrial products from Fabory’s parent company, W.W. Grainger Inc., CBM Calls for Stimulus & Loan Review............5 Chicago, IL, USA. As a strategic investor, Torqx will be able to support Fabory in Global Bolt Market Growth: 4.1%.....................5 its ambition to further strengthen its position as specialist distributor in fasten- Crescent’s Brass Ventilator Fasteners..............6 ers, to enhance the customer experience and to grow the group organically 2020 Fastener Innovation Awards...................6 and through add-on acquisitions. Fabory and Torqx want to further strengthen FIC: Social Media Guidelines & IFE Awards.....6 Fabory’s leading position in the highly fragmented European fastener market Obituary: Watson Woodrow Stanley................6 and drive economies of scale, while maintaining and strengthening its specialist Fastener Distributor Index (FDI): 45.0............... 7 position as one of the top fastener companies in Europe. ITP Acquires Construction Tool & Threading... 7 Fabory, headquartered in Tilburg, the Netherlands BUMAX Wins Telescope Fastener Order......... 7 Subscribe, read or advertise @ www.fastenertech.com/FastenerNewsReport.asp is active in 11 European countries and has revenues Dividends Report............................................... 7 MWFA Cancels Events.......................................8 of over €220 million and 1100 employees. Fabory is a strong and well-positioned fastener brand with a comprehensive product range, a strong and talented Presented by: team, a best-in-class IT and sourcing system and a European-wide footprint with a strong home market & in the Benelux. Fabory received positive advice on the transaction from its Works Councils. The transaction Initial Publications, Inc. is not subject to any financing condition, but is subject to standard regulatory 1741 Akron Peninsula Rd, approvals. This deal is expected to close in the coming months. Akron, OH 44313 USA Ronald Baarslag, CEO of Fabory Group, said, “Finding a new strategic partner Tl: +1 330 864 2122 • Fx: +1 330 864 5298 for Fabory was an important next step in our strategy, while focusing on further www.fastenertech.com growth and with an eye on the consolidation of the European fastener industry. Chip Lippincott Publisher While we have strengthened our business, we also see that the market further Mike McNulty VP & Editor developed with customers increasing in size and behavior, further digitalization Jim Masar Senior Editor and competitors bundling forces. Therefore we need to accelerate growth and Tom Hutchinson Global Sales Manager Sally Goss Sales Representative expand our European presence, while remaining in the drivers’ seat. With Torqx we are delighted to have found a partner that will support us in executing our strategy.” www.fabory.com • www.grainger.com • www.torqxcapital.com Endries Acquires All-West Components & Fasteners Inc. Endries International, Brillion, WI, USA, has acquired All-West Components & Fasteners Inc. All-West was founded in 1978 in Seattle, WA, USA, and over the past 30 years has been focused on serving the OEM market and provid- ing technical fastener solutions to its customer base. Operating under ISO 9001-accreditation, the company’s 24 associates operate from its headquarters in the Seattle and branches in Spokane, WA, USA and Boise, ID, USA. A leading distributor of fasteners and Class-C parts, Endries serves industrial OEMs globally. From its Brillion headquarters, eight USA and international distribution centers, Endries offers over 500,000 SKUs to its customer base. Endries operates primarily through a Vendor Man- aged Inventory model, managing C-part categories for its customers across [email protected] • www.heroslam.com diverse industrial end markets. www.endries.com • www.all-west.com Page 1

BUSINESS & MARKET REPORT June 15, 2020 N ew J RC MATT Includes Agrati & Growermetal An agreement was The JRC MATT is an Notebook signed last April for example of a strategic New Drill Screws from Triangle Triangle Fastener Corporation’s the creation of the JRC and cultural approach ¼-14 BLAZER-3 Drill Screws in carbon steel are now FM Ap- MATT – Metal And to innovation that lever- proved for Transformation Tech- ages the concept of screw at- tachments nologies, a shared re- Open Innovation as a per classes 4471 Panel Roofs and 4881 Exterior Wall Systems. search center between tool to create value and The screws are offered with TRI- SEAL® finish and are approved in Politecnico di Milano, A. Agrati SpA, increase the competitive advantage of lengths to 11\". Triangle Fastener also recently Growermetal Srl, Mario Frigerio SpA its participants. launched a new #10 CONCEAL- OR® with pat- and O.R.I. Martin Acciaieria e Fer- JRC MATT is a physical and virtual ent pending BURR BUSTER® riera di Brescia SpA. place for collaboration, design and technology, developed for use in oriented The Joint Research Center (JRC) in shared know-how creation in response strand board. www.trianglefastener.com Italy is a partnership between com- to an increasingly complex global Würth Group Issues panies and universities on issues of marketplace. The research will initially €750 Million Bond The Würth Group, has taken common interest in which advanced focus on new approaches to supply advantage of favorable capital markets conditions to acquire innovative research is developed, chain quality, innovative materials and long-term funds and successfully sharing expertise, instrumentation big data analysis in technologically issued a €750 million bond in the market on May 11, 2020, through and infrastructures, and in which mature contexts. Official headquarters its finance company Würth Fi- nance International B.V. The members can contribute to the training of the research center will be the for- bond with a term of seven and a half years, carries an interest and growth of their staff, students and mer headquarters of Mario Frigerio in coupon of 0.75% p.a. and is se- Lecco, Italy. www.agrati.com cured through unconditional and professionals of tomorrow. irrevocable guarantees of Adolf Würth GmbH & Co. KG. Howmet Aerospace reports amount of the 2022 Notes that expiration & final results of were validly tendered after the early www.wuerth.com note tender offers & solicitation tender deadline of or prior to May 20, 2020, at 12:01 AM ET. Howmet Howmet Aerospace Inc. recently Aerospace expected the final settle- announced the expiration and ment date to occur on May 21, 2020 final tender results for these additional notes. of its previously an- nounced tender offers in respect Holders of notes who validly ten- of its 5.40% Notes due 2021 and its dered their notes and, in the case 5.87% Notes due 2022. of the 2021 Notes, validly delivered their consents after the early tender On May 7, 2020, Howmet Aero- deadline and at or prior to the ex- space purchased US$561,417,000 piration date will receive the total aggregate principal amount of the consideration, which includes the 2021 Notes and US$146,642,000 early tender premium for the notes aggregate principal amount of the of US$50 per US$1000 principal 2022 Notes that were validly ten- amount of notes tendered. Accrued dered and not validly withdrawn and unpaid interest will be paid on as of 5 PM ET, on May 5, 2020. all notes validly tendered and ac- Howmet Aerospace expects to cepted for purchase from the last accept for purchase an additional interest payment date up to, but not US$27,775,000 aggregate princi- including, the final settlement date. pal amount of the 2021 Notes and US$4,310,000 aggregate principal www.howmet.com Jackie Ventura www.saspi.es Sales Representative Phone: 330-467-0102 • Mobile: 216-338-8485 Fax: 330-467-0108 • Email: [email protected] Web: www.JackieVentura.com News & Notes: www.JackieVentura.Net Skype: Jackie.Ventura1 Twitter: @JackieVentura1 Page 2

BUSINESS & MARKET REPORT HELI-CAL Products names cal Division. Until nomination of a June 15, 2020 HC Pacific exclusive distributor successor, Jens Breu, CEO of the SFS Notebook HELI-CAL Products, a precision Group, will temporarily assume responsibility metal components for the Medical division. Sherex Releases Hand company of MW Indus- Strengthening the position in the Tool Calibration Unit tries, has appointed HC MedTech industry is a key priority Sherex Fastening Solutions, Pacific as its exclusive distribution for the SFS Group and will be sup- Tonawanda, NY, USA, has re- partner for its entire standard HELI- ported by substantial investments in leased the Hand Tool Calibra- CAL product line. This arrangement employees and capacities. tion Unit, which measures the expands HC Pacific’s current HELI- pulling force for both pneumatic CAL distribution portfolio to include The Board of Directors and Group and hydro-pneumatic rivet nut an additional 1430 standard prod- Executive Board thank J. Mark King tools to ensure ucts. HC Pacific will stock the entire for his many years of services. the tool is meet- line of standard coupling products, ing the required ensuring immediate availability and www.sfs.com setting force to same-day shipment. install into the LISI Automotive sells application. With the ability to “The expansion of the HC Pa- Mohr + Friedrich GmbH measure the pulling force of a cific and HELI-CAL distribution tool before performing an install, agreement adds tremendous val- LISI AUTOMOTIVE, a subsidiary of operators are assured the tool is ue to customers,” said Andrew LISI Group, continues its calibrated correctly in real time Pramschufer, HC Pacific CEO. “Users repositioning strategy for a perfect install. of the HELI-CAL product line can have product shipped just-in-time with the sale of its LISI AUTOMO- www.sherex.com while taking advantage of HC Pa- TIVE German subsidiary, Mohr + cific’s custom kitting capability”. Friedrich GmbH. LISI AEROSPACE Signs F-35 LISI Group has signed an agree- ment with the German company, Behrouz Khodnegah, HELI-CAL ZerobaseInvest Holding GmbH for Contract with Lockheed Martin GM, also said that HELI-CAL is ex- the sale of 100% of the shares of its LISI AEROSPACE signed its first cited to expand its offering with HC German subsidiary, LISI AUTOMO- long-term supply contract with Pacific. “This distribution partner- TIVE Mohr + Friedrich GmbH, which Lockheed Martin, for F-35 fas- ashvaipilasSabfipleitgyouthtalrroidgusghshttaHnoCdnPaarNdciIfpiFcroSwd/huiWlcet ESipsrTosdpEuexccheiasiliwbzehidteoeilnrnshuot.s.t.acfonordngsitnpignacuaeenrsdd, teners. The award covers years 2020-2022, with allowing the HELI-CAL team to focus particularly for the truck and trailer three one-year cocSoanFulSthapaepliaiVpnpanrnroargodllnywitdpcioIusnJaiwnVcdojVudeeticwluPoduTountsiolnle.nottBctamoiirnqvoosisIelau,eontm.nwlsi”etcldcPhosoap-sllunnlp7adifanIs5soeesmdnt1tddtirriweccci.pessm.caf’iaanglosrs iun tttsmsebosnatshfeiinodacrds-tunsctorimti-WfWfdtWooruororecmetlriihpnnnetosVpmesrtgrghionafmnuröCaaduaosmtopulscthheeslelcrdpednkeTriaksnHeogotbeBrmaaooeeooiilnoanslntmntsPhddof.eitTraibuofdnsto€kispTdhoghdecater1iuhTtogfyc3ar4oaccihtf4aitlsaoorssntlht.2lereasP8hiancotal,nahseervnnsmdrmeAoduGsrbrs,seGde5tbrmraaeai0eaaolunnnuyslsrcdripeggpcakoiaamtiairdtnnrriceonnssdogge-.itauanipnnfrayopy2,cs,r0tloiuoat1nivroc9cieedanhbrwetVssiieIaenT.sniwdvsbTsetfeBehiieooctitddnheorrohFnoknaatsoshtiltoLpotaeoooe3InnpSltngatn3Iattaaiyti0Aesroflnleo,raEvnrRclaesmeoOlsu:tn.otSeitmTPr2haAoa0icfCst2tUeEwc5’dsSo,i$lNnl6btor0eartmchstuAispllmtiproeleniner.igdcTtahbhney- manayoguenmeede. nOutrrceatsaplogocnosntiabinilsity the continued purchasescrews and bolts. We maintain a large ens LISI AEROSPACE’s position as for thomeuartMecruiaerlrsdenpitcagpaealrftoDsr oiavrliivssitisooitfnothuer by LISI AU- a major supplier of fasteners for inventory of tooling, strategically located worldTwOidMe. WOreTntIhVamE’iss pFroruedntochhavesubsidiaries of rMeppinsaorsielrgycwkimnseKieoaurinnsss,epgcHlotaoh-esptamoaiclsadyfnamduosetefefracnstc,heitadurensre.deSdroFeuStsor-Mreetdirie-tmtmhheaaennrmeuchapefoauiousnctttatttuthd-oiroeeefnpmoinTefdoOrnruogdRtsahQttebreiy-vlhSde. WEiegdTheef®eclaa,isArvuteseqClrsuitRycaeet®lpnoirntseiybemreadbfonetrrddeo-srsfo’ nr eitesdFsr.ench aerospace and military aviation. J. and BUYERS’Presented by: www.lisi-group.com GUIDE TORQ-SET®,PHILLIPS SQUARE-DRIV®, ACR® ribbed PHILLIPS®, ACR® ribbed PHILLIPS II®, MORTORQ®, HEXLOBE, TORX® and QUADREX® products. 2007 Manufacturer Identification Symbols INTERNATIONAL GUIDE Volt Industrial Plastics, Inc. 700 Hwy.w2w02wW.vo•lYtpelllavsiltleic,sA.cRo7m2687, USA www.wrenthamtool.com Contact: Heidi Volltrauer, COO Toll-Free: +1 800 844 8024 Toll-Free Fax: +1 877 453 8707 Web Site: www.voltplastics.com www.ndindustries.com E-Mail: [email protected] Page 3

BUSINESS & MARKET REPORT June 15, 2020 The proposed transaction, fol- TriMas Aerospace’s RSA lowing the sale of the LISI AUTO- honored by Northrop Grumman Notebook MOTIVE Former site in Saint Florent sur Cher, France, and the recent TriMas, Bloomfield Hills, MI, Bulten’s Green Product Line acquisitions of TERMAX and HI- USA, has an- Bulten AB, Gothenburg, Sweden, VOL PRODUCTS, will enable the LISI nounced that offers the BUFOe green product AUTOMOTIVE division to continue TriMas Aerospace’s RSA Engineered line, which uses an innovative repositioning its business on high Products (RSA) has been selected combination of value-added fastening solutions by Northrop Grumman as an Out- advanced materi- and mechanical components for standing Supplier supporting the als and know-how the automotive market. OmegA rocket, which will launch in the cold forging national security missions for the process, to make This transaction is subject to recently formed U.S. Space Force. heat treatment redundant. BU- satisfying certain conditions and FOe reduces energy consump- obtaining the usual required autho- RSA, acquired by TriMas in Febru- tion by more than 50% and CO2 rizations. It should be completed by ary 2020, provides critical ducting emissions over 30%. BUFOe uses the end of June 2020 components used in the propulsion cold forging steel owing its prop- system of the OmegA rocket. RSA erties to a specifically matched www.lisi-group.com worked closely with Northrop to combination of temperature- develop these components to meet controlled rolling and the addi- Metabo HPT names Joe a very tight timeline to support a tions of micro-alloying elements. Leffler New President & CEO spring 2021 first launch date. Together with calculated defor- mation hardening, this allows Metabo HPT (Koki Holdings www.trimascorp.com bolts with strength class of 800 America Ltd.), Braselton, GA, USA, a to 1000 MPa without quenching subsidiary of Koki Holdings Co, Ltd., DGI Supply agrees to acquire and tempering after cold forging. formerly part of the Hitachi group, Production Tool & Supply has announced that Joe Leffler will www.bulten.com assume the role of DGI Supply, Wheeling, IL, USA, CEO and President. has entered into agreements to Tri-Star’s Fasteners Hiro Yumoto will acquire certain assets of Produc- for Ventilators assume the role tion Tool & Supply, Rockford, IL, USA. As COVID-19 rapidly advanced as interim Chief DGI Supply has hired the Produc- across the USA, GM/Ventec, Operation Officer tion Tool & Supply employees and and other medical equipment of the Americas will continue to operate under the makers continue their aggres- and will continue PT&S brand for its customers in the to serve as Chairman of the Board Rockford area. sive timetable of Koki Holdings America. to ramp-up pro- DGI Supply plans to combine its duction of ven- Leffler previously served as Chief inventory in Loves Park with PT&S’ tilators in short supply. Tri-Star Operating Officer & General Man- Rockford location, nine miles away. Industries, of MW Industries, agement for Metabo HPT. He first has been supplying engineered joined the company in 1994 and Bill Henricks, DGI Supply Chief fasteners that are critical to the has served various roles across the Marketing Officer, said, “The com- assembly of ventilators. organization. His strengths are cul- bined inventory will improve service www.tristar-inserts.com tivating strategic partnerships and levels and broaden the product leveraging unique opportunities to offering that PT&S provides its cus- Page 4 deliver strong business results. tomers. The COVID-19 pandemic has given us an opportunity to “Our customers, employees amalgamate these two great com- and products are what define us panies and retool our product and and will continue to be what sepa- services to get our customers back rates us in the future,” said Leffler. to work without disruption.” “Through innovation and execution, we will deliver on the opportunity of DGI Supply is a full line industrial our position in the building industry.” distribution company representing over 1500 brand names, and 25 www.metabo-hpt.com branches in North America. www.dgisupply.com

BUSINESS & MARKET REPORT TR Formac expands presence this in mind, and to collaborate with June 15, 2020 in Thailand; Joins EVAT other companies, TR Formac decid- ed to join the Electric Vehicle Asso- Notebook TR Formac, part of Trifast plc with ciation of Thailand (EVAT), which the corporate world headquarters in Thai government was instrumental Aerospace Fasteners East Sussex, UK, has expanded in launching. EVAT began in 2015 Market Growth: 5.89% its global presence by moving into by individuals from the private and Technavio has been monitoring larger premises in Prawet, Bang- public sectors to promote/support the global aerospace fasteners kok, Thailand, in response to strong industrial manufacturing, R&D and market, and says it is poised to growth across Asia and winning EV usage in Thailand. grow by US$2.51 billion from new business from global OEMs. 2020 to 2024, progressing at a The new facility provides around www.trfastenings.com CAGR of almost 6% during the 3000 ft2 of space enabling the com- forecast period. The report offers pany to trade more efficiently and Pandemic impacts an up-to-date analysis regard- to help further strengthen its posi- Bufab’s Q2 sales ing the current market scenario, tion in the growing EV market. The latest trends and drivers and the operations in Thailand are headed COVID-19 and its effect on the overall market environment. up by Country Manager David Ng. global manufactur- ing industry have Market estimates include pre- According to Ng, there are huge had an impact on Bufab’s sales in and post-COVID-19 impact on growth opportu- the second quarter of 2020. the aerospace fasteners market. nities in Thailand with focus on tech- The company’s priorities are to www.technavio.com nology and inno- now (1) Protect Health, (2) Protect vation of electric Customers and (3) Protect Bufab. Global Bolt Market vehicles (EV). With Bufab has so far managed to avoid Growth: 4.1% per Year any significant impact on the health According to Acumen Research and Consulting, the global bolt Confederation of British Metalforming (CBM): (fastener) market size is expected to reach US$43.9 billion by 2027, Calls for Industry Stimulus Packages & Loan Review growing at a CAGR of 4.1% dur- ing forecast period of 2020 to Confederation of British Metalform- 2027. Increasing automotive production and the rapidly grow- ing (CBM) members have called for in- ing construction sector are pri- marily driving the market value. dustry stimulus packages and a review There is also growing demand for fasteners in aerospace hybrid of the viability tests on Coronavirus as well as miniature fasteners applications. Business Interruption Loans (CBILS). www.acumenresearchandconsulting.com Over 200 companies from the fasten- ers, forgings, pressings, cold-rolled and sheet metal products sector be- ence to protecting the future of some lieve if these measures are adopted fantastic businesses and giving them they will give industry the best possible the chance to recover—that lifeline opportunity to get started again and shouldn’t be taken away because of bring more people back to work. CBM legislation not fit for the current situa- bosses are increasingly concerned tion and a viability test based on three that CBILS acceptance rates are still years of BREXIT uncertainty. This only 50% of actual applications, with review, alongside the Trade Credit In- the Government focusing too much on surance changes due to be announced the value loaned vs. poor take-up rate. this week, will build on the platform of This is being attributed to CBILS being support given to manufacturers.” hampered by EU state aid rules relating CBM represents over 200 members, to ‘undertakings in difficulty’ being fol- providing the largest collective voice lowed by the letter of the law in the UK, for the metal forming sector. www.thecbm.co.uk whereas other European countries are being more liberal in their approach. Steve Morley, CBM President, com- mented, “We would really like to see the same flexibility of approach employed by the banks when con- sidering CBILS/CLBILS applications. These loans can make a huge differ- Page 5

BUSINESS & MARKET REPORT June 15,2020 2020 Fastener Innovation Awards Notebook Mike McGuire, President of World- Gesipa® – PolyBulb® wide Fastener Sources.com, has Hilti USA – “Smart Bolt” Crescent Manufacturing’s announced the 2020 Class of Fastener KATO Fastening Systems – LockOne® Brass Ventilator Fasteners Innovation Award winners. The awards Leland Industries – Thermal Crescent Manufacturing is are presented annually to recognize   Expansion Fasteners an integral part of the Ford/ those individuals and companies where Nord-Lock® – “Original Wedge- GE HealthCare supply chain, their specific fasteners are innovative   Locking Technology” producing 800,000 brass fasten- in assemblies today and that they will Nylok® – NyShield™ ers for ventilators in the war on be tomorrow’s standard. Smalley – “Edgewinding Process” Fastener innovation is strong and Twister™ Fastener – Coil Washer COVID-19. Ford and GE reached ongoing, and is called a “Technology Valley Forge & Bolt – Load out to their supply chain for Trend” in the fastener industry. In fas-   Indicating Fasteners help in making these ventilator tening application engineering today, machines. Crescent, being one engineers and designers now dictate The Certificate of Recognition and of their suppliers, received the that fasteners are an important part of product design and assembly and are the unique innovative model design now thought of “first” in specifying fas- tening applications. Our philosophy is Reploge Crystal Marquise globe is continuous improvement with innova- tive solutions for fastening applications. delivered to each award winner. The The nine 2020 award winners are: Fastener Innovation Award is an ongo- ing, year-around project that accepts nominations at any time from fastener innovators around the world. www.worldwidefastenersources.com specs for the fasteners needed of its employees or its operations, from the American Pe- for these intricate machines. and to supply our customers with- troleum Institute (API) www.crescentmanufacturing.com out disruption throughout the crisis. for its business unit in FIC: Social Media Guidelines Houston, TX, USA. The & IFE Award Nominations Bufab has however seen a API certification process If you want to use social media considerable impact to its sales requires the highest standards of for your business, the Fastener as customers have reduced their quality management and manufac- Industry Coalition (FIC) can help. consumption and inventory of C turing through an on-site audit and Visit the Resources tab at the parts during April and May. This in evaluation. USAFG is also API 20E- website below to find links to turned was caused by considerable certified, which requires the group Twitter and LinkedIn guidelines. shut-downs and capacity reduc- to be compliant to API manufactur- FIC is also accepting nomina- tions in the manufacturing industry ing standards for low-carbon steel. tions for the IFE Fastener Hall worldwide in the same period. of Fame and Young Fastener Obituary Professional of the Year Awards. Bufab’s organic sales growth in Watson Woodrow Stanley You can submit nominations no May was about -25% (April -30%), later than July 25, 2020 at: adjusted for the number of working The Pacific-West Fastener Association reports www.fastenershows.com. days. Total sales growth in May was that Watson Woodrow Stanley, 96, passed away about -10% (April -20%), adjusted on May 18, 2020, of natural causes leaving behind www.fastenercoalition.org for the number of working days. his three children, 10 grandchildren and nine great During May, Bufab saw a gradual grandchildren. Born in Detroit in 1924, he grew [email protected] demand recovery in Europe and up in the great depression selling newspapers www.nationalmachy.com North America, but from low levels and raising chickens to raise money. At 18, he and somewhat slowed by inventory joined the Army where he received a Purple Page 6 adjustments. Bufab expects this Heart fighting in WWII as a Master Sergeant same trend in June. Tank Commander. After the war, he graduated from the Detroit Institute of Technology, and www.bufab.com married Bette Ann Eckert and started his family. In 1958, he started Darling Bolt in Warren, MI, USA Fastener Group USA, and after selling to a partner, opened Stan- Now API certified ley Industries in 1967. Both businesses still exist today. Watson’s final resting place will be at the USA Fastener Group (USAFG), Great Lakes National Cemetery in Holly, and the a part of MW Industries, has re- family will plan a Celebration of Life for Watson ceived API Spec Q1 certification in late summer. Memorial donations can be made to: Shepherd of the Lakes Church, Brighton MI, USA. sotlchurch.churchcenter.com/giving and the WWII Legacy Memorial at Memorial Park, Royal Oak, MI, USA. michiganww2memorial.org

Fastener Distributor Index – May 2020 BUSINESS & MARKET REPORTWritten by R.W. Baird analyst David J. Manthey, CFA 6/4/20 June 15, 2020 Fastener Distributor Index (FDI): 45.0 for May Notebook The Fastener Distributor Index (FDI) survey for respondents to the survey. We have added an May, which produced a 45.0 reading seasonally updated FDI information page to the FCH website adjusted, is a welcome rebound after the past two to bring even more data to the index. Please share monthsKoef yreTcaokredalowwayre: sults. Industrial Threaded Products it with your business associates to encourage The Forward-Looking Indicator (FLI) also im- them to join in: signsAocf rqeucoivreerysaCs onstruction proved Tath4e3s.9e,aasfotenraAllpyrila’sd3ju6s.2terdeaFdainsgte. ner Distribhutttposr://Iwndwewx.f(aFsDteI)neforsrcMleayrinwgahsou4s5e..0c,osmh/ofcwhi/ng FoowHfugwelyaOlwyr.pIfTfnuuthilrtatsilmrtemyrthleeastreahapnontrrdsearedFeoistamswdDivdobihIopRennaeondraagnog.dl,cwaaaviopoleneiymslodlsdeeti.irpjsateoetoisswnoiornootiptidanMhaFeealMmanill1kylsiay5onetsre3rgaciengMcdSenaojnctruanmrNolsadTiirtunnnemeggldscdtoqahy6Amlun/bip1zooias8erelnsit-,dl ismwlieaam+mYvnso1epautuli8rhf.nroa7e.cnvc7Nosbte3uemfdo/3tfrmtF,2imtnaoec7gs/onm8tw/mten3csiwndn6o,aewignatnriDs.lidofbtndirnseqiuatssiurtcciuebrttorsueiivovfttmiefoiontyranayI.nsccilnvduoeaeemsvvrrxteeeyolrwmlfyooeewwrlcrmosebmaoarkeessetsbau.ptu:mTathreateidrcesipoisxaph-nm(ITeonItorwTosad.onPtiniutol)hgn,s&sostBi.urgirtnTSalesoahlloaoerkfsT,ehCarAdeai,ndUgeSdCAo,P.hroads uaccts- www.fastenersclearinghouse.com Thank you for your participation! This month we www.nfda-fastener.org quired Construction Tool & Threading a custom manufac- are gladFatostheanveer hDaidstarinbouthteior nstTrornegndnsu:mMbearyo2f 020 FASTENER DISTRIBUTION AT A GLANCE turer that has served the con- May 2020 ------------------------- Index Values ---------------------- Rate of struction and indus- May Apr Mar Feb Jan Dec Nov Oct Sep Direction Change trial market for over PMI (Manufacturing Sector) 43.1 41.5 49.1 50.1 50.9 47.8 48.1 48.3 47.8 Declining Slower FDI (Fastener Sector) 46.9 41.8 45.6 51.3 55.4 43.4 45.5 52.2 52.4 Declining Slower 80 years. Construc- Slower tion Tool & Thread- FDI (Seasonally Adjusted) 45.0 40.0 44.4 53.0 51.4 44.4 46.7 52.1 56.0 Declining ing’s services team will become Slower Sales (SA) 28.9 14.0 34.6 54.9 50.0 34.9 35.5 48.2 56.4 Declining Slower Forward- Looking (SA) 43.9 36.2 33.3 48.9 50.9 46.2 46.5 44.2 44.0 Declining (Other Metrics; NSA) 40.0 26.8 27.0 48.2 56.7 45.3 48.5 48.7 51.6 Declining Slower fully integrated with Industrial Employment 67.5 76.8 68.9 66.1 58.3 53.1 51.5 55.1 58.1 Growing Slower Threaded Products so customers Supplier Deliveries 70.0 68.3 64.9 64.3 63.3 65.6 65.2 69.2 69.4 Growing Faster can benefit from the services of Respondent Inventories 48.8 47.6 48.6 41.1 41.7 43.8 51.5 52.6 53.2 Declining Slower both firms. www.itpbolt.com Customer Inventories 47.5 59.8 50.0 50.0 58.3 60.9 57.6 59.0 61.3 Declining Faster Pricing, month-to-month 61.3 67.1 60.8 58.9 70.0 79.7 78.8 84.6 79.0 Growing Slower Pricing, year-to-year 6-Month Outlook -May Higher Same Lower BUMAX Wins Fastener Order 43% 30% 28% FDI and Pricing are diffusion indexes. At 50, the performance of the category listed met expectations. A reading for ESO Telescope in Chile above 50 suggests the category outperformed expectations,while a reading below 50 suggests the category BUMAX of Sweden won an order underperformed expectations. Source: Baird, FCH Sourcing Network, Institute for Supply Management for 11,000+ BUMAX 109 fasteners “Our team at USAFG is very proud tions & Security Solutions. for construction of the European of our aAcbcooumt tphleisFhamsteennert iDnisatrcibhuietovrinIngdex (FD•I).JiTmheCFaDmI isearomnobntehclyosmurevesyEoxfeNcour-th AmeSroicuanthfeasrtnenOerbservatory Extremely API cerdtiifsitcraibtuiotonrs,acnodndluocotekdswfoithrwthaerdFCH tSivoeurVciPng&NGetewnor.kMaandnaBgaierdr owfithUtsiuliptypo&rt fromLathrge eNTaetiloensaclope (ESO ELT). The ELT to the FnasetewneroDpipstoribrtuutonrsitiAesssocitiatwionil.l It Bofrfoerasdinbsaignhtds Sinotloutciuornresn.t fastener industry trwenidlls/boeuttlohoeksw. orld’s largest, when WbreinagveoreiSun,ixmprpUueiblStcasutAralsfyFtr,iioGontmnhesSesatfsFholoereurswfnFaDasiMtrtI,de”as-nLusenorarvoaeikmdgyin.aeMgrTrk.hIeiniktsdeciiconandtdoicCiratiot(ooF•rnrLpsI).DiosiArasdasvbetdeaseiisfgefSLnudecesdihaoonundtoleazinrpwdsbreehoexivigecpihdso,:teemvddaeliauresvecestrEiaaoxgbneeoacvlouefp-e5for0su.p0refcsoictitgiravwgnemaaolroedasns-tlrdoefoouenpktgsuitenerhegrr,at tiinon2a0l2in4.Chile’s Ata- wwhilwe wre.amdinwgs-ibnedlo.cwo5m0.0 signal weaktniveess.VOicveerPtirmees,idreesnultts&shCoFuOld.be directly relevaTnht eto Fraestfelneacl t o r (FAST) and broadly relevant to other indu•stTreiadl dDisotrsibcuhtobrsescuochmaessWE.Wxe. cGuratiivneger (GWteWle) sacnod pMeSCcol- Vice President, Strategy & Chief lects universal WESCOInd&ustrAianl (iMxtSeMr).announce Transformation Officer. light with a post-closing leadership team WESCO International and Anix- • Diane Lazzaris becomes Ex- large curved mirror 39 m across, ter International have ecutive VP & General Counsel. which is too large to be made announced the future leadership team and • Chris Wolf becomes Executive from a single piece of glass. It organizational struc- VP/Chief Human Resources Officer. consists of 798 individual 1.4 m segments. BUMAX fasteners fix ture to become effec- • Hemant Porwal becomes Exec- the nearly 800 telescope mirrors tive upon completion utive VP, Supply Chain/Operations. to all the segment supports. of the merger of the two companies. wesco.investorroom.com www.bumax-fasteners.com The transaction is expected to close Dividend Reports... Don't Miss On-Demand Fastener Talk Radio! in by Q3 2020, subject to remaining FTR is talk radio for the fastener industry, featuring customary closing conditions. • Howmet Aerospace, Pittsburgh, PA, USA, guests, commentary and conversation designed to Strategic Business Unit Leadership: declared a dividend of US$0.93.75/share on the inform and entertain fastener professionals. Available outstanding US$3.75 Cumulative Preferred Stock any time in streaming or download formats. Tune in • Nelson Squires becomes Ex- to be paid, July 1, 2020, to the holders of record ecutive VP & Gen. Manager of on June 12, 2020. www.howmet.com today! Log on to listen to Fully Threaded Radio: Electrical & Electronic Solutions. • Nucor Corporation, Charlotte, NC, USA, de- www.fullythreaded.com • Bill Geary becomes Executive clared the regular quarterly cash dividend of VP & Gen. Manager of Communica- US$0.4025/share on common stock, payable August 11, 2020, to stockholders of record, June 30, 2020. www.nucor.com Page 7

EVENTS & OPPORTUNITIES MWFA Annual Fastener Builder for the 14th year in a row. June 15, 2020 Show & Golf Outing Cancelled The cornerstone of ST Fastening Systems’ success is commitment to EVENTS Nancy Rich, Executive Director, customer care. Mid-West Fastener Association Date TBD – POSTPONED (MWFA), Lake Zurich, IL, USA, re- www.stfasteningsystems.com Fastener Fair France, Paris, France ports, “As we continue to monitor www.fastenerfairfrance.com 2020 China Fastener the COVID-19 Show Is Now Online June 22 – 25, 2020 situation with NFDA Live! Virtual Speaker Summit Stay at Home According to the organizers of www.nfda-fastener.org Orders, company travel bans and the 2020 China Fastener Show, most of all everyone’s safety, the COVID-19 has caused exhibitions August 10 – 18, 2020 MWFA Board has had extensive around the world to be postponed 2020 China Fastener Show Online discussions on this year’s events. or canceled. And the Ministry of en.fastenershow.com In the best interest of everyone, we Commerce has issued a call to ac- have made the decision to cancel tively build a new on-line exhibition September 4 – 5, 2020 the MWFA Table Top Show and Golf platform and promote innovation of Fastener Fair Delhi Outing for 2020. exhibition formats. As a result, 2020 New Delhi, India “To be sure that we provide qual- China Fastener Show will for the first www.fastenerfair.com/india/delhi ity events, we will put these events time in its history take place online. on hold until 2021 when we are September 9, 2020 able to meet safely. We respect the The new on-line event will open NCFA Distributor Social, importance of safety and the time August 10, 2020, and give full play Cleveland, OH, USA constraints on businesses trying to the advantages of Internet tech- www.ncfaonline.com to return to normal business once nology, and realize the functions Stay at Home Orders are lifted and and scenes of an off-line exhibition. September 16 – 17, 2020 COVID-19 cases greatly decrease. Fastener Exhibition & Conference “We will continue to keep you The China Fastener Show will Birmingham, UK updated on industry news and provide an all-day, on-line data www.thefastenexpo.co.uk informed as new plans develop. exhibition hall, live video, real-time This may not be a normal situation, negotiation, supply/procurement September 23 – 25, 2020 but the strength of our country will connection, real-time transaction, Shanghai Fastener & Tech Show bring business back and we will be on-line activities and more. Via the Shanghai, China together again at events.” multi-language version of the on- www.fastenertradeshow.net www.mwfa.net line exhibition booth shop, the show offers multi-form, multi-dimensional September 23 – 26, 2020 Subscribe, read or advertise @ www.fastenertech.com/FastenerNewsReport.asp ST Fastening Systems Wins and convenient display to create an wire China 2020 Gold Key of Excellence Award interactive and full shopping expe- Shanghai, China from for 14th Straight Year rience for visitors. The exhibition www.wirechina.net has also set up multiple business Every year, Rural Builder Maga- extension mechanisms such as September 28 – 30, 2020 zine honors top suppliers in the exchange of E-business cards and International Fastener Expo - IFE 2020, rural building industry with the Gold E-catalogs to improve the brand Las Vegas, NV, USA Key of Excellence Awards. In 2020, exposure of enterprises and to www.fastenershows.com ST Fastening Systems, Tyler, TX, provide more valuable information. USA, was awarded The Gold Key October 8 – 9, 2020 of Excellence Award from Rural en.fastenershow.com Fastener Fair Mexico 2020 Mexico City, Mexico Page 8 www.fastenerfair.com/mexico October 13 – 15, 2020 Fundamentals of Threaded fasteners and Joint Design for Engineers and Designers Chicago, IL, USA area www.nnitraining.com October 14 – 16, 2020 Fastener Taiwan 2020, Kaohsiung, Taiwan www.fastenertaiwan.com.tw October 27 – 29, 2020 parts2clean, Stuttgart, Germany www.parts2clean.de November 3 – 5, 2020 International Fastener Show China 2020 Shanghai, China en.afastener.com November 11 – 12, 2020 Fastener Fair Italy, Milan, Italy www.fastenerfairitaly.com December 7 – 11, 2020 wire 2020, Düsseldorf, Germany www.wire-tradefair.com March 23 – 25, 2021 Fastener Fair USA, Cleveland, OH, USA www.fastenerfairusa.com May 18 – 20, 2021 Fastener Fair Stuttgart Stuttgart, Germany www.fastenerfair.com/stuttgart