EuroFasteners March 2023

Corporate News

CGR to acquire UK spring manufacturer

Spring scholarship winners

Comptoir General Du Ressort SAS (CGR) is to acquire the entire share capital of John Binns & Sons (Springs) Ltd, based in Skipton, North Yorkshire, UK. CGR is a France-based engineering business with operations in Europe, America and Asia, specialising in co-engineering and serial production of metal and plastic components based on cold forming technology. The group works in the supply automotive, aviation and electronics industries, and in 2022 had turnover of €196mn. John Binns & Sons (Springs) Ltd has been operating for 125 years from its base in Skipton, and recently invested in new technology, supporting lean tech for its complex spring production for a broad customer base. The company will continue with its present management team under CGR ownership. Jean-Marie Lavirotte, business development manager at CGR, commented, “JB Springs is a fantastic opportunity for CGR to establish a first base in the UK. [Legal adviser] DMH Stallard played a key role helping us to close the deal.” CGR www.cgr-international.com John Binns & Sons (Springs) Ltd www.jbsprings.co.uk

Nuts, Bolts & Thingamajigs® (NBT), the foundation of the Fabricators & Manufacturers Association, Int’l (FMA), has announced that 30 students will be receiving scholarships for the 2023 spring semester. This year, with donations and grants from across the metal fabrication industry and beyond, NBT is awarding a total of $45,000 to support tuition, book and school fee costs. “We are pleased to be providing scholarships to enable these students to pursue their passion in manufacturing,” said Ed Dernulc, NBT foundation director. “We hope that this gives them the foundation to become lifelong contributors to this dynamic industry.” Since 1990, NBT has awarded over $1.3mn to more than 675 students to pursue manufacturing careers across the USA. The FMA is a professional organisation with more than 2,500 members working together to improve the metal processing, forming and fabricating industry. Founded in 1970, it brings metal fabricators and equipment manufacturers together through technology councils, educational programmes, networking events and the FABTECH® trade show. Fabricators & Manufacturers Association, Int’l www.fmamfg.org www.nutsandboltsfoundation.org

Hilti invests in sustainability drive and commits to SBTi

triple-digit million Swiss franc amount to incorporate systematic changes into its own business processes and to further encourage the development of its partners. Construction is the most resource intensive industry, generating around 40 per cent of the world’s carbon footprint. SBTi enables businesses to set ambitious targets to reduce CO 2 emissions; it engages companies worldwide to significantly

Hilti Group has committed to the Science Based Targets initiative (SBTi) in line with the goals of the Paris Agreement. As a core element of its corporate strategy, Hilti is enhancing its contribution to reducing carbon emissions across the entire value chain. This step tackles the emissions outside Hilti’s own operations to accelerate its net zero transition and support customers on this path. The company will invest a

Jahangir Doongaji, Hilti Group CEO

to net-zero,” said Jahangir Doongaji, Hilti Group CEO. “With our commitment to science-based targets we will decrease emissions along the entire value chain. This supports our customers’sustainability initiatives and enables us to contribute to the much-needed transformation of our industry.” After this commitment to SBTi, Hilti will – via an advanced action plan – develop and submit targets for validation within 24 months. Hilti North America www.hilti.com

reduce their carbon footprint by 2030 and to achieve net-zero by 2050. The SBTi is a partnership between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature. “Beyond our ambition to become CO 2 -neutral by 2023, we are also tackling emissions outside of our own operations on our path

Hilti is committed to reducing carbon emissions

EF 4/58

www.read-eurofasteners.com

March 2023