Insight

Another member of NEVIB is Fabory Group, the fastener specialist known for its comprehensive range of fasteners and C-parts, as well as selection of MRO products, which it supplies to the OEM market.

Francisco Terol, CEO at Fabory Group, comments: “Over the last ten years there have been multiple occasions in which the value of the collective coordinated cooperation of NEVIB has proven its success. For instance, take the recent imposed anti-dumping duties as an example. NEVIB, and EFDA, played a crucial role in the communication with various stakeholders, as well as coordinating and vocalising the concerns of its members. From the moment the anti-dumping investigation was announced by the European Commission, NEVIB has provided us with information and insight that has enabled us to inform our customers about the situation and together with them find a workable, cost-effective solution.”

The announcement of the imposed anti-dumping duties, coupled with the effects of the Covid-19 pandemic, and combined with the disrupted global supply chain, made 2021 a historical year for the fastener industry. “Last year was very challenging and it was only thanks to our service proposition that we as Fabory were able to continue to grow,” states Francisco.

Fabory Group’s product assortment covers the full range of fasteners from standards to specials and engineered fasteners. In addition, it provides its customers with the full scope of C-parts, as well as a selective assortment of MRO products (tools, PPE, consumables, etc). “With a global manufacturers network and long-lasting relationships, we have been able to manage and secure sufficient products to meet the increasing demands of our customers,” explains Francisco. “Thanks to a well-established and highly experienced sourcing team, we have also been able to manage and minimise the effects of the big topics impacting the sector. The combination of our expertise, and our full range service proposition, also provides our customers with peace of mind and the confidence that their C-part handling and support is in the right hands.” 

Francisco adds: “There have been shared challenge across the industrial market when it comes to the price development on raw material, transportation costs, as well as energy and labour costs. In this perspective it was essential we were transparent to our customers about the situation. In this volatile market it is very difficult to predict how these different cost-components will further develop, whether they will continue to rise or start to stabilise. With this in mind, we need to accept that the rest of the year will remain very uncertain.”

Whilst there might be uncertainty in the market, Fabory is committed to continuing to develop its strategic direction going forward. “We want to create peace of mind for our customers by providing them the right logistical solutions, as well as the required engineering support and specialised application knowledge. That is why we will continue to monitor the global situation and analyse our sourcing strategy to see how we can reduce lead times and transportation costs, and dependencies, whilst keeping our flexibility and innovative power.

“We will also continue to focus on driving new digital innovations and new technology enabled solutions. The more we are able to automate and deploy visually enhanced dashboards – the more effective and efficient we are able to become in bringing our full value proposition to the market, as well as help reduce the total cost ownership – which is essential in the fastener product category.”