Stock Dumping Compromising Fastener Quality
Despite its pivotal role in systems, the fastener industry is often the element that is most neglected. As the industry continues to grow at a rapid pace there are several factors impacting its success, including stock dumping. An age old phenomenon, stock dumping is easily defined as shipping off sub-standard quality products to a specific country. It is perhaps one of the greatest causes of poor quality fasteners entering the market.
With manufacturing costs increasing, many companies are opting to import products from overseas countries at a lower cost with fewer delays. At the back of this preference, the fastener industry is a stock-dumping hub for sub-standard fasteners. Imported from East Asian countries, including China and Japan, fasteners with fraudulent ISO accreditation are being used in systems across the country.
“These fasteners being imported from East Asian countries are not subject to the stringent quality testing measures as is the case with the fasteners produced by Swagefast,” explains Swagefast’s Financial Director, Jay Rossouw. Essentially these fasteners are produced with sub-standard materials with sustainability and longevity not one of the evident features.
As an industry veteran, Jay describes stock dumping as an industry-crippling option which is growing at an incredibly frightening rate. Operating in an extremely competitive industry, the need to produce and supply fasteners on tight deadlines is perhaps one of the greatest catalysts to the growing stock-dumping phenomenon. Despite the penalties in place for stock dumping, this is becoming a growing concern for the industry.
Swagefast prides itself on delivering ISO accredited fasteners that have undergone stringent quality testing measures. The fasteners manufactured and supplied by Swagefast are designed to meet and exceed customer requirement. Complemented by comprehensive fastening systems, Swagefast is renowned for being a leader in the manufacture and supply of quality fasteners. “Stock dumping is a growing concern and can only be addressed through intolerance to inferior quality products by the industries serviced by the fastener industry,” adds Rossouw.