Hardware & Fastener Components World News >>Hardware & 五金產業新聞
Fastener Components
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compiled by Fastener World

Industry Development
Cordless Power Tools Market Size Expected to Reach US$ 39.2
Billion, Exhibiting a CAGR of 9.1% by 2033
無線電動工具市場規模將在 2023 年達到 392
億美元，年增長 9.1%
The cordless power tools market revenue wasestimated at US$ 15.3 billion in 2022 and a reanticipated to grow at a CAGR of 9.1% from 2023 to2033. By the end of 2033, the market is expected toreach a value of US$ 39.2 billion.
The cordless power tools market has experienced
significant growth and innovation. Among the many factors driving this market
expansion, the emergence of interoperable batteries has played a crucial role.
Interoperable batteries, also known as universal or cross-platform batteries, can beused interchangeably across different cordless power tool brands and models.

Hardware & Fastener Components - no.60/2023

Companies are recognizing the need for interoperable batteries and collaborating
to manufacture such batteries for the convenience of consumers. For instance, In
July 2020, Bosch and Husqvarna Group's Gardena division joined forces to create
an alliance. Together with other renowned brands, they introduced the Power for
All Alliance, a multi-vendor battery system that will power various home products.
This alliance was built upon Bosch's battery technology, forming a solid foundation
for collaboration. Such collaborative efforts from companies are driving the market
towards shifting from traditional corded to cordless power tools.
Several manufacturing companies of power tools are driving the shift fromtraditional corded tools to cordless power tools. For instance, WORX/Rockwell Tools
have moved to 80% cordless tools in the past few years from 50% corded and 50%
cordless. DeWalt is also focusing significantly on cordless power tools, manufacturing
more cordless power tools than corded ones. Milwaukee Tool has also decided
to discontinue corded versions of tools if cordless tools outperform them. These
companies are significantly influencing consumer buying habits and pushing forward
the cordless power tools market.

UK Initiates Sunset Review Investigation on
Imported Steel Products
英國對進口鋼產品啟動日落複審調查
On September 4, 2023, UK Trade Remedies Authority
issued a notice to initiate a sunset review investigation on
certain imported steel products, including non-alloyed and other alloy wire rods. On
October 1, 2020, upon the application of the UK Secretary of State for International
Trade, the UK initiated a transitional safeguard investigation on imported steel
products, and on May 21, 2021, the Trade Remedies Investigation Directorate (TRID)of the UK Department for International Trade (DIT) made a final safeguard rulingon the imported steel products.

032 惠達雜誌The U.S. Makes the First Antisubsidy Sunset Review Final Rulingon Stainless Steel Flanges
美國對不鏽鋼法蘭作出第一次反補貼日
落複審終裁
O n Aug u st 31, 2 0 23,
t he U.S. D epa r t ment ofCommerce issued a noticeof its First Expedited Sunset
Review Final Determinationof Anti-subsidies on StainlessSteel Flanges Imported from India,
finding that the elimination of the countervailing
duty in this case would result in the continuation
or recurrence of subsidies on the products
involved in the case in India at a rate of subsidies
ranging from 5.21% to 256.45%.
On September 6, 2017, the U.S. Departmentof Commerce announced the initiation ofantidumping and countervailing investigationsof st a in less steel f la nges impor ted f rom
China and India. On Ma rch 20, 2018, theU.S. Department of Commerce announced its
preliminary antidumping determinations ofstainless steel flanges imported from China andIndia. On April 6, 2018, the U.S. Department ofCommerce announced its final countervailingdeter m inat ions of sta in less steel f la nges
imported from China. On June 5, 2018, theU.S. Department of Commerce issued its final
countervailing determinations of stainless steel
flanges imported from China. On June 5, 2018,
the U.S. Department of Commerce announced its
final anti-dumping determinations with respect
to stainless steel flanges imported from China.
On August 13, 2018, the U.S. Department ofCommerce announced its final anti-dumping
and countervailing determinations with respect
to stainless steel flanges imported from India.
On May 1, 2023, t he U.S. Depa r tment ofCommerce instituted its first anti-dumping andcountervailing sunset review investigations withrespect to stainless steel flanges imported from
China and India.

Hardware & Fastener Components World News >>Comparison of China's Fastener Exports in Jan-Jul 2023
with Taiwan's

Taiwan's Fastener Exports in January July 2023

2023 年 1-7 月中國與台灣扣件出口比較

2023 一至七月台灣扣件品項出口統計

In the first seven months of 2023, China exported a total of approximately
2.56 million tons of fasteners to the world, a decrease of 6.05% from the same
period of 2022, while Taiwan exported approximately 760,000 tons of fasteners
to the world, a decrease of 25.13% from the same period of the previous year.
The size of China's fastener exports is approximately 3.36 times larger than thatof Taiwan. Compared with Taiwan's high reliance on the European and U.S.
markets, only 30% of China's fasteners are exported to Europe and the U.S.,
and a large proportion of fasteners are exported to ASEAN/Japan/South Korea/
India, as well as other regions outside of Europe and the U.S. In the first sevenmonths of 2023, China's and Taiwan’s fastener exports to Europe, the U.S. andthe UK both showed a decline, but China’s exports to ASEAN/Japan/South
Korea/India showed a growth of about 3.5% from the same period of 2022.

Taiwan exported about 760,000 tons of fasteners to
the world in January-July 2023, a decrease of 25.13%
from the same period in 2022. In terms of value,
Taiwan exported about 2.91 million tons of fasteners to
the world in January-July 2023, a decrease of 24.79%
compared with the same period in the previous year.
However, the average unit price (USD/kg) increasedslightly by 0.5% to USD 3.827. Nearly 80% of theexports went to Europe, the United States and theUnited Kingdom. Exports to Europe and the UnitedStates, ASEAN, Japan, S. Korea and India all showed adecline of more than 20% in volume or value comparedwith the same period in 2022, but the average unit priceof exports to the EU27 (including the United Kingdom)
grew against the trend by 5.5% to reach US$3.726.
In terms of weight, the top 5 fastener categories
exported from Taiwan to the world in the first 7 monthsof 2023 were other screws and bolts, nuts, self-tapping
screws, wood screws and steel nails (others) and theexport volumes of these categories were 375,000 tons,
132,000 tons, 130,000 tons, 65,000 tons and 22,000
tons, respectively. Compared with the same period in
2022, these categories all show a downward trend.

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In terms of export value, Taiwan exported about US$2.91 billion offasteners to the world in the first 7 months of 2023, a decrease of nearly 25%
compared to the same period in 2022. China, on the other hand, exported
about US$6.4 billion of fasteners to the world, a decrease of about 11.54%
from the same period last year. All of Taiwan’s and China's fastener exports tovarious markets in the world declined. In terms of average unit price, Taiwan's
fastener exports to Europe and the U.S. landed at US$3.6-3.8 per kilogram,
fastener export price to ASEAN, Japan, S. Korea and India were US$4.1-4.5
per kilogram, while China's fastener export price to the global market landed at
US$2.2-3 per kilogram. In the first 7 months of 2023, the average unit price of
Taiwan's fastener exports to the EU grew the most significantly to 5.51%, while
the average unit price of China's fastener exports to the world appeared a dropof around 5-7.5% from the same period last year.

惠達雜誌

033

Hardware & Fastener Components World News >>Taiwan Climate Change Agency: EU Must Adjust Free
Allocation System in CBAM or It Will Create Trade Barrier
氣候變遷署副主任：「CBAM 必須調整免費核配方式，否則形
成貿易障礙」CBAM is on a trial run from October. Initially, no fee will be charged,
but importers will be required to submit carbon emission
data. The Deputy Director of Preparatory Office of
Climate Change Agency (Taiwan) said that CBAM is
mostly based on a free allocation system which will beturned into an auction-based system starting in 2034.
The price is about 100 euros per ton which is high, but
because of the adoption of free allocation for most of
the emitted carbon, only a small fraction of about 2 to 3%of the carbon emissions need to pay a carbon fee, which isdifferent from Taiwan which charges a fee on every ton of carbon. Therefore,
when CBAM is officially on the road in 2026, the European Union must
adjust the free allocation method and integrate with the calculation methodof every country; otherwise it will form a different trade barrier.

Hardware & Fastener Components - no.60/2023

According to the statistics of the Ministry of Economic Affairs (MOEA)
of Taiwan, 248 product categories will be impacted by CBAM, and Taiwan
is involved in 212 of them, mostly steel products. In 2022, Taiwan's basic
metals and products accounted for 7.69% of its overall export volume, 15%of which were exported to the EU and the exported products were mainly
steel, metal fasteners, and aluminum.

034 惠達雜誌The Indian Government Rolls out Mandatory
Quality Norms for Nuts, Bolts
印度政府祭出螺帽、螺栓強制性品質標準
The Indian government has implemented mandatory
quality norms for nuts, bolts and fasteners to curb
the import of sub-standard goods and boost domestic
manufacturing of these products. Items cannot be
produced, sold, traded, imported and stocked unlessthey bear the Bureau of Indian Standards (BIS) mark. A
notification in this regard was issued by the Department
for Promotion of Industry and Internal Trade (DPIIT) on
July 21.
Now, manufacturing, storing and sale of non-BIS
certified products are prohibited as per the BIS Act, 2016.
Violation of the provision of the BIS Act can lead to
imprisonment of up to two years or a fine of at least Rs 2
lakh for the first offence.
In case of second and subsequent offences, the fine
will increase to a minimum of Rs 5 lakh and extend up to
10 times the value of goods or articles.

Hardware & Fastener Components World News >>South Africa Extends Fastener Safeguard Measures for 3 Years
南非延長螺絲防衛措施 3 年
International Trade Administration Committee of South Africa (ITAC) decided, from July
24 this year, to extend the three-year high-tariff defense measures on steel or iron screws, bolts
and hexagonal nuts. The measure is divided into three phases to respectively levy 48.04%,
46.04% and 44.04% defense duty.

Chinese New Energy Cars
Accelerates Entry to ASEAN
中國新能源汽車加速進入東協
ASEAN has become a popular
destination for Chinese exports of
new energy vehicles. The market
share of Chinese automobile brands
in the ASEAN region is gradually
expanding. In 2022, Wuling Motors'
sales in Indonesia exceeded 30,000
units, a year-on-year growth of 17%;
Great Wall Motor has nearly 20,000
ASEAN smart car owners; BYD has
been the champion of Thailand's newenergy vehicle sales for several months
in a row.

SAFMA's provided information to apply for the extension of the measure includes initialrecognition that the South African fastener industry in the original defense measures (August
1, 2020 to July 31, 2023) has carried out industrial adjustment, but if the defense measures are
terminated, the South African industry will suffer from the reduction in sales, shrinkage of
production capacity, declined market share and labor employment, and reduction in equipment
utilization and revenue, among other damages; therefore, it was decided to extend the defense
measures and finally a decision on the extension of the defense measures was made.

BYD announced the constructionof a passenger car plant in Thailand;
SAIC and other Chinese automobile
companies have also announced theconstruction of overseas passenger car
and new energy vehicle component
production bases in Thailand.

Hardware & Fastener Components - no.60/2023

In recent years, ASEAN countries
have intensively launched new green
i ndust r y pol icies. For exa m ple,
Malaysia has introduced a series oftax incentives for imported and locallyassembled pure electric vehicles,
including exemptions from importduty and domestic tax for imported
pu re elect r ic veh icles. Of f icia ls
have planned to build 10,000 publiccharging facilities nationwide by 2025,
and by 2030, EVs will account for 15%of the country's total vehicle sales.
In Indonesia, all vehicles of stateagencies and their regional offices are
required to be gradually converted toEVs, and the national EV charging
network is being expanded. Indonesia's
national electricity company said it isstriving to build 25,000 EV charging
stations by 2030. Thailand has lowered
tariffs on impor ts of new energy
vehicles and pa r ts, and provided
purchase subsidies for new energy
vehicles.

惠達雜誌

035

Hardware & Fastener Components World News >>Indian Steel Tycoon Advises the Government to Impose Import Tariffs
印度鋼鐵大亨建議政府徵收進口關稅
To counter U.S. tariffs and European carbon taxes, Indian billionaire industrialist and steel tycoon Sajjan
Jindal is hoping for the government to impose similar taxes to level the playing field for Indian companies.
"Each region is considering their own protective measures. The U.S. has an import tariff on steel. Europe has the
Carbon Border Adjustment Mechanism (CBAM). The European Union is subsidizing or supporting their own
industry by providing a lot of money, while companies in other regions are not getting this subsidy support. I
hope India will also put up non-tariff barriers or steel import barriers," Sajjan said in an interview.

Companies Development
STMicroelectronics and Würth Elektronik Collaborate ona High-performance Power Tool
意法半導體與伍爾特電子合作開發高性能電動工具
Würth Elektronik and STMicroelectronics jointly developed
a demo using a Würth power tool. The design, which efficiently
drives a low-voltage Brushless DC motor, is ideal for handheld
power-tool applications. Moreover, the design includes all thenecessary user interfaces required to control the motor’s trigger,
speed, and direction.

Hardware & Fastener Components - no.60/2023

Over the past few years, STMicroelectronics and the passive components
manufacturer Würth Elektronik have established a strong collaboration
developing reference designs that leverage the best of each companies’
portfolios. By combining active components from STMicroelectronics with
passive components from Würth Elektronik, the companies can offer readymade turnkey or customizable solutions to customers.

036 惠達雜誌”Working with Würth Elektronik, STMicroelectronics
has shown its capabilit y to work
wit h pa r t ners to ext ract t he best
performance from its product offer
and to jointly develop system solutions
addressing the most challenging andcomplex application needs,” sa id
Ricardo De Sa Earp, Executive Vice
President, General-Purpose Microcontroller Sub-Group,
STMicroelectronics.
“The development of a cost-effective, high-quality
reference design that forms the basis for outstanding power
tools is another example of the fruitful collaboration we sharewith STMicroelectronics,” said Alexander Gerfer, CTO,
Würth Elektronik eiSos Group.

Hardware & Fastener Components World News >>Japanese Hand Tool Maker TONE Celebrates 85th
Anniversary

Patriot Bolt and Fastener Makes the "Inc. 5000"
at No. 1716 in 2023

日本手動工具大廠 TONE 慶祝成立 85 周年

Patriot Bolt and Fastener 公司入榜2023 年「Inc. 5000 強企業」

Mr. Daishiro Yano, President and Representative
Director, expressed the following in a press release:"TONE was established on August 6, 1938 and was the first company
in Japan to manufacture and sell socket wrenches. After that, in order tobecome an infrastructure company in the industrial world, we expanded
our lineup to include not only manual tools but also power tools,
labor-saving tools, and torque control devices. We have developed our
corporate activities based on the idea that TONE can solve all problems,
and we were able to celebrate the 85th anniversary of our founding on
August 6, 2023.
We would like to express our deepest gratitude for the support andpatronage we have received from all of you, and all of our employees willcontinue to do our best to contribute to the society and our customers.
Thank you for your continued support."

NAFCO Orderbook Full Into 2024
豐達科訂單排到明年
Demand in the aerospace ma rket has
increased dramatically following the end of the pandemic, boosting salesof fasteners for NAFCO. NAFCO said the shortage of materials has
been alleviated, and orderbook is full into next year. In 2022, NAFCO's
revenue recovered to 75% to 80% of its pre-pandemic level. It is still
difficult to estimate the growth rate of the whole 2023. We will have to
wait and see how the market fluctuates.
NAFCO specializes in aerospace and automotive fasteners, withfasteners for aerospace engines in particular being the mainstay. Last
year, aerospace fasteners and machined parts accounted for 83.43% of thecompany's total revenue, while industrial fasteners accounted for 16.57%.

Chin Well Holdings Reports Earnings Results for Q4
and Full Year Ended June 30, 2023

Hardware & Fastener Components - no.60/2023

晉緯控股公佈第四季及 2023 年度財報
For the fourth quarter, the company reported
sales were MYR 95.61 million compared to MYR 196.87 million a year
ago. Net income was MYR 5.08 million compared to MYR 27.61 million
a year ago. Basic earnings per share from continuing operations were
MYR 0.0177 compared to MYR 0.0964 a year ago.
For the full year, sales were MYR 456.45 million compared to MYR
657.84 million a year ago. Net income was MYR 39.46 million compared
to MYR 95.99 million a year ago. Basic earnings per share fromcontinuing operations were MYR 0.1378 compared to MYR 0.335 a year
ago.

Patriot Bolt and Fastener ranks No.
1716 on the 2023 Inc. 5000, its annual list of the fastest-growing
private companies in America. 2023 Inc. 5000 are ranked
according to percentage revenue growth from 2019 to 2022.
The prestigious ranking provides a data-driven look at the mostsuccessful companies within the economy's most dynamic
segment--its independent, entrepreneurial businesses. Facebook,
Chobani, Under Armour, Microsoft, Patagonia, and many otherhousehold name brands gained their first national exposure as
honorees on the Inc. 5000.
"We owe our success to the amazing efforts of our team.
Their dedication to excellence, innovation, and working together
has brought us to new levels and made us a leading company inthe industry," said Kris Kolb, Founder and CEO of Patriot Bolt
and Fastener.
The Inc. 5000 class of 2023 represents companies that have
driven rapid revenue growth while navigating inflationarypressure, the rising costs of capital, and seemingly intractablehiring challenges. Among this year's top 500 companies,
the average median three-year revenue growth rate was an
astonishing 2,238 percent. This year's Inc. 5000 companies haveadded 1,187,266 jobs to the economy over the past three years.

Albolt Manufacturing Relocates to Rockford
Albolt Manufacturing 遷廠至羅克福德Albolt Manufacturing, a producer of specialty fasteners,
announced that it has relocated operations
from Addison, Illinois, to Rockford.
Albolt is now located at 5055 26th Ave. insoutheast Rockford.
“The new location provides a larger, more efficiently
designed facility,” Albolt General Manager Jeremy Rubens said
in a news release. “With a larger footprint and more efficiently
designed floorplan, Albolt now has greater capacity to produce
the unique specialty fasteners that our customers need, more
quickly.”
Some of the products Albolt produces are specialty hex
bolts, sockets, studs, nuts and pins. Albolt has been around that
long. The company was founded just last year as a way to meetthe increasing demand for high-quality specialty fasteners foruse in specific industries.

Ridgid Celebrates 100-year Anniversary in 2023
Ridgid 今年慶祝成立 100 周年
RIDGID, of Emerson's professional tools portfolio, spends the year
2023 celebrating the 100-year Anniversary. “A lot has changed over thelast century,” Heather McLin, vice-president of marketing, professional
tools for Emerson said. “But one thing that has remained constant is the dedication of
the skilled trades to build a stronger tomorrow. RIDGID is honored to be by their side
every step of the way. “From our iconic pipe wrench that started it all to our newest tool
solutions, every product we make is designed to help trade professionals get jobs doneeasier and more efficiently. That’s a legacy that will never change.”038 惠達雜誌In 1923, the Ridge Tool Company invented
the modern straight pipe wrench, introducing itto the world under their brand RIDGID. Since
then, every step forward has been with thetradesperson in mind. Today, RIDGID’s pipe
wrench design is the best-selling pipe wrench in
the world and many of the wrenches that weresold back in the 1920s and 30s are still in use
today.

Hardware & Fastener Components World News >>Acquisitions
OneMonroe Acquires
Electronic Fasteners
OneMonroe 併購Electronic Fasteners
Monroe Engineering has recently completed
the acquisition of Electronic Fasteners, Inc.
(EFI), a wholesale stocking distributor. From
now on, Electronic Fasteners will be known as
Monroe EFI. According to a press statement,
the combined strength of the two companies
is expected to lead to better customer service,
expanded product offerings, and deeper supplierpartnerships.
OneMonroe is an ISO 9001:2015 certified
global industr ial manufactur ing company,
offering a broad product line and has a diverse
customer base of manufacturers and distributors
across several vertical markets.

Hardware & Fastener Components - no.60/2023

This means the Electronic Fastener team— now Monroe EFI — has expanded access tothousands of additional vendors and products
through the nationwide OneMonroe network. The
companies will operate much as before, but withthe additional advantage of shared knowledge andproducts to serve the market better.

040 惠達雜誌

Commercial Metals Company Acquires EDSCO Fasteners LLC
Commercial Metals Company 併購 EDSCO Fasteners LLC
Commercial Metals Company ("CMC") announced thepurchase of EDSCO Fasteners LLC ("EDSCO"), a leading
provider of anchoring solutions for the electrical transmission
market, from MiddleGround Capital. EDSCO's custom
engineered line of anchor cages, bolts, and fasteners are manufactured principallyfrom rebar and used primarily to secure high voltage electrical transmission poles
to concrete foundations. EDSCO serves the North American market from four
manufacturing plants located in Texas, Utah, Tennessee, and North Carolina. Since
its founding in 1985, the company has grown to become the nation's largest providerof anchor cages for concrete reinforcement and has developed a strong reputation forcustomer service and reliability.
"This acquisition further advances CMC's leadership position in construction
reinforcement and extends our capabilities to new and growing applications," said
Barbara R. Smith, Chairman of the Board and Chief Executive Officer. "EDSCO's
innovative reinforcement solutions are well-positioned to benefit from the long-termtransition to renewable energy, which will require extensive investment in electricaltransmission capacity and wind power installations."

Altenloh, Brinck & Co. Celebrates 200 Year Anniversary
Altenloh, Brinck & Co. 慶祝成立 200 周年
ALTENLOH, BRINCK & CO (ABC) is celebrating an unbelievable
milestone of two centuries of existence! Founded in 1823 in the town now known
as Ennepetal, Germany, ABC was the first in that country to produce screws on anindustrial scale and looks back on a long tradition dedicated to innovative progress.
The most well-known product manufactured by the global, family-run company is the
SPAX screw, which revolutionized the fastener sector and continues to be one of themost innovative fasteners in the marketplace today.