Fastenal

In today's article we are going to delve into the fascinating world of Fastenal, a topic that has captured the attention of experts and fans alike. Since its emergence, Fastenal has demonstrated its impact on various aspects of society, science, culture and history. Over the years, it has been the subject of debate, study and research, and its influence has continued to evolve over time. In this in-depth exploration of Fastenal, we will examine its origins, its relevance in today's world, and the various perspectives that exist around this topic. Prepare to immerse yourself in a journey that promises to surprise, excite and educate, as we discover together the exciting universe of Fastenal.

Fastenal Company
Company typePublic
Founded1967 (1967)
FounderBob Kierlin
Headquarters,
U.S.
Number of locations
3,334 (Mar 2023)
Area served
Key people
  • Daniel L. Florness (CEO)
  • Holden Lewis (CFO)
RevenueIncrease US$7.25 billion (2023)
Increase US$1.53 billion (2023)
Increase US$1.16 billion (2023)
Total assetsDecrease US$4.46 billion (2023)
Total equityIncrease US$3.35 billion (2023)
Number of employees
23,201 (2023)
Websitefastenal.com
Footnotes / references

Fastenal Company is an American company based in Winona, Minnesota, founded in 1967. It placed 479 in the 2021 Fortune 500 based on its 2020 revenues, and its stock is a component of the Nasdaq 100 and S&P 500 stock market indices. Fastenal currently has 3,334 in-market locations as of March 2023.

Fastenal refers to itself as a supply chain solutions company, while Reuters calls it an industrial distributor.

History

Founded in 1967 by Bob Kierlin, the company was incorporated on December 24, 1968. Fastenal's offerings include both purchased and manufactured products.

In January 2016, Daniel L. Florness became the President and CEO of Fastenal. Florness started with Fastenal in 1996 as the company's chief financial officer.

Fastenal has been a sponsor of NASCAR since 2006, and in 2020, they became the official MRO partner of the NHL.

In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw-making company. Fastenal then was added to the S&P 500 index in late 2008.

Canada

It entered the Canadian market in 1994. The company has branch locations in every province and two Canadian distribution centers.

Mexico

In 1999, Fastenal entered the market in Mexico. Fastenal has branches in 14 of Mexico's states as well as a distribution center.

Asia

Fastenal's Asian trading company, Fastenal Asian Sourcing and Trading Co, is a Wholly Foreign-Owned Enterprise located in Shanghai, China, where it directs sourcing and import purchasing activities. Opening in 2001, Fastenal's Singapore location was its first site outside North America. By 2009, sales operations in Shanghai were complemented by those in its larger neighbor Malaysia. Locally incorporated Fastenal Malaysia Sdn Bhd is associated with Fastenal's Malaysian activities. The company runs an A2LA accredited testing laboratory in this nation as of 2014.

Products and services

2018 Bolt Award winning branch located in Quakertown, PA

Fastenal first sold mostly fasteners such as screws, threaded rods, and nuts, which are used in construction and manufacturing. Today's product range is more diverse, and the company had a total of 690,000 individual products as of 2010. In addition to a plethora of SKUs, the company offers a variety of services, including inventory management, small fastener manufacture, vending, and machining.

Fastenal has retail stores in every U.S. state, every province of Canada, 14 Mexican states, and Puerto Rico, and Panama.

As of 2000, the company employs 400-plus people at six manufacturing locations, including one manufacturing bolts made using a newer method, cold heading, in Rockford, Illinois, an operation in Wallingford, Connecticut, and another in Malaysia, etc.

Internationally, Fastenal has sites in China, Dominican Republic, Hungary, Malaysia, the Netherlands, Germany, Singapore, and the United Kingdom. In 2006, the company had two sourcing offices in Asia, China and Taiwan, both have an accredited testing laboratory, which, as of 2007, was A2LA certified.

Gallery

Fastenal in Winona

See also

References

  1. ^ "Form 10-K Annual Report for the Fiscal Year Ended December 31, 2023 Fastenal Company". SEC.gov. U.S. Securities and Exchange Commission. 6 February 2024.
  2. ^ "Fastenal". Fortune. Retrieved 2021-12-30.
  3. ^ "About Us | Fastenal". www.fastenal.com. Retrieved 2021-06-10.
  4. ^ a b About Us (Video) Archived 2015-03-30 at the Wayback Machine Fastenal official site
  5. ^ a b UPDATE 1-Fastenal Q3 results beat market estimates reuters.com, Tue Oct 12, 2010 8:33am EDT
  6. ^ a b Fastenal Co (FAST.O) Archived 2022-01-31 at the Wayback Machine Fastenal About Us
  7. ^ "Fastenal Company - Management". Archived from the original on 2016-01-02. Retrieved 2016-02-19.
  8. ^ "Fastenal Named NHL's Official MRO Partner Through 2024". Industrial Distribution. 2020-08-19. Retrieved 2022-09-28.
  9. ^ a b c d e f President’s Letter to Shareholders (2009)[permanent dead link] Fastenal Official Site
  10. ^ Salesforce.com, Fastenal to Replace Fannie, Freddie in S&P 500 bloomberg.com, September 9, 2008 17:45 EDT
  11. ^ Fastenal Company stock forecasting
  12. ^ a b "EX-21 Fastenal List of subsidiaries". U.S. Securities and Exchange Commission. Retrieved 2022-07-21.
  13. ^ a b c Fastenal Company to Acquire Holo-Krome Company Fastenal Official Site, December 9, 2009
  14. ^ President’s Letter to Shareholders 2004[permanent dead link] Fastenal Official Site
  15. ^ President’s Letter to Shareholders (2008)[permanent dead link] Fastenal Official Site
  16. ^ a b c d Home > About Us > Company Overview > Distribution Overview Archived 2013-01-26 at the Wayback Machine Fastenal Official Site
  17. ^ President’s Letter to Shareholders 2006 Fastenal Official Site

External links

  • Official website
  • Business data for Fastenal: