Insight

A review and preview of the global fastener industry

A wide cross section of global fastener business leaders have contributed their retrospective of 2015 and thoughts on the prospects and challenges for 2016. We asked them to consider not just economic and financial issues but also technology drivers for the fastener industry and to identify priorities for the upcoming year. Here is Nord-Lock's article:

Nord-Lock Group
Ola Ringdahl, CEO

Safety is more important than ever. Nobody wants breakdowns or accidents. The Nord-Lock Group has the world’s most advanced solutions for bolt securing and bolt tensioning, and we see exciting growth opportunities during 2016.

A year ago we saw strong demand and good growth in the fastening industry, but during the second half of 2015, there was a slow down. We saw the impact from lower oil prices, a continued slump in the mining industry, and lower growth numbers in China.

Equipment manufacturers get fewer orders and this naturally affects the manufacturers and distributors of fasteners. There is a hesitation in the industry and many people are trying to interpret the signals from the market.

Regardless of the challenges, Nord-Lock has seen good results in 2015. For us, with a niche focus on safety, there is less direct connection to the general economic trends.

Safety is simply more important than ever. Nobody wants breakdowns or potentially fatal accidents. Because we specialise in the world’s most advanced solutions for bolt securing and bolt tensioning, Nord-Lock has exciting growth opportunities. We save time and money for our customers. We have earned their trust because we are the original and we have delivered outstanding quality for more than 30 years.

Getting ready for 2016 and beyond has kept Nord-Lock particularly active in the latter half of 2015. We recently acquired respected hydraulic bolt tightening leaders Boltight in the UK. Boltight complements our Superbolt® business very well, expanding our bolt tensioning capabilities with an innovative range of top quality hydraulic bolt tensioners. Being able to offer the very best technology for each application is an important service to our customers.

To meet an increasing demand, we have ramped up the production capacity of our X-series washers – multifunctional wedge-locking washers with a spring effect.

With X-series we expand the design possibilities by compensating for slackening and relaxation, whilst still securing against vibration and dynamic loads.

Our commitment to R&D and product development means we can look forward to multiple new product launches in 2016, addressing customer needs for safety and productivity in the years ahead.

The fastening industry continues to evolve, in close cooperation with demanding customers. Safety and secure joints continue to be important trends. The race to lighter and stronger materials should also be mentioned, and we see continued innovation in surface treatment to minimise corrosion. Our customers expect innovation that creates added benefit and value in their own applications.