UDIB General Members Meeting 2017

                                                                             press release provided by UDIB

On 24th November 2017 the General Meeting of the members of UDIB (Italian Union of Distributors of Steel Fasteners) was held in Turin, Italy.

UDIB was set up in 1976 and currently groups more than 40 firms specializing in the distribution of fasteners. The overall turnover of the associated firms totals more than 400 million euros and gives employment to 1,000 persons. Today, UDIB, is the second largest fastener association in Europe, in terms of the number of members.

Among the main issues under discussion were the market performance in 2017 and the forecasts for the next year. Italy has started an important stage of growth. GDP is expected to increase by 1.5% in 2017 and by 1.4% in 2018 . Employment will increase by 1.2 percent in 2017 and by 1.1 in 2018. In October 2017 exports to non-EU countries increased by 11.2% and imports increased by 8.4% compared with the same month of the previous year.  The trade balance showed a surplus of 4,554 million euro compared with a 3,803 million euro surplus in the same month of 2016. (ISTAT source).

The Italian market for fasteners is going through a very good period.  The turnover of fasteners companies grows on average between 6-10%. The fastener’s prices have increased about 15% and supply times are stretching. This is creating supply difficulties for all companies. Surely the next few months these issues will be greater.

The general meeting ended with a delicious dinner  at Palazzo Barolo. The palace was built in 1692 and was the house of the Marquise Tancredi and Giulia Falletti di Barolo, two among the XIX century most loved personalities  in Torino.