This fastener company is bigger than you think
Asked about the state of the U.S. fastener market in 2021, Phil Lail, president of Pan American Screw, Inc., described it this way: “The fastener market overall is in a state of chaos right now,” he said. “Extended lead times from most Asian manufacturers, raw material shortages, domestic steel increases, rapidly rising container shipping costs and a shortage of available space on ships are creating a perfect storm.”
Pan American, whose brands include Big Timber Fasteners, is riding out that storm thanks to — among other things — a strong inventory position.
“I have heard it said, ‘Inventory Is King right now,’ and fortunately we are in a great position with plenty of Big Timber fastener products in stock to support our customers and we are well positioned to open new markets and geographies,” Lail added.
It helps also that Big Timber Fasteners has deep pockets and deep resources with its extended family of building products. The company is part of the $8 billion-plus The Marmon Group, which is in turn owned by Berkshire-Hathaway. Lail describes that ownership structure as a definite advantage.
“When it is time to expand our distribution locations, add R&D facilities, buy new equipment and open new factories, the financial support of Berkshire-Hathaway can’t be beat,” he said. “They allow us to run our businesses independently and do not micromanage decisions that have to be made to be successful.”
Where do your products fit in the big picture of the fastener market?
The Big Timber brand is considered a premium brand of fasteners in the hardware, building material, lumberyard and farm and ranch retail outlets. Part of the brand’s differentiation is the fact it’s sold exclusively in independent building material retailers — not the big box stores.
Also, the company’s testing is non-stop. “We test for corrosion resistance, drive torque, breaking torque, ductility, and driver bit fit,” he said. “Our unique and innovative packaging really stands out on the fastener aisle and our color-coded labeling makes it easier for the consumer to choose the right fastener for the job.”
Building on the company’s emphasis on independent testing, All Big Timber structural fastening products are tested and verified by DRJ Engineering. Plus, “the Big Timber structural fastening products are supported by a TER (Technical Evaluation Reports) and we print a QR Code on the side of the box, so they are easily downloaded in the store or on the jobsite.”
Lail describes Big Timber and sister brand Sure Drive USA as brands that can handle every construction fastener need, from stainless steel deck screws to four proven styles of hidden deck fasteners. And on top of the product diversity is the product knowledge and experience that’s built into its sales force.
“Our Big Timber men and women are on the road working with our customers, helping with contractor shows, training new employees, reorganizing shelves and plan-o grams, taking inventory and offering the full service support that we have built our reputation on since 1945,” Lail said.
From the continuous customer interaction, Lail and his team have a front row seat on the fast-moving construction situation in the United States today.
“Our customers are telling us business is booming right now, and it has been since the early onset of COVID-19,” Lail said. “As families were ‘trapped’ in their homes under quarantine, they were wanting to improve their living spaces. Decks were being built, kitchens and bathrooms remodeled, and new construction was strong and robust.”
That raging demand overran the supply chain in some cases, across the building material industry. The goal for Big Timber and all of Pan American Screw is to keep a steady flow of product, and mitigate the volatile pricing and supply chain disruptions.
“We’re doing everything we can,” he said. “And our number one focus is supporting our customers in these uncertain times.”
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