Fastenal
 | This article contains content that is written like an advertisement. (May 2017) |
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| Type | Public |
|---|---|
| Nasdaq: FAST NASDAQ-100 Component S&P 500 Component | |
| Founded | 1967 |
| Headquarters | Winona, Minnesota, U.S. |
Number of locations | 2,227 (Dec 31, 2018)[1] |
Area served | United States Canada Europe Asia |
Key people | Daniel L. Florness (CEO), Holden Lewis (CFO), Lee Hein (Senior Executive VP - Sales)[2] |
| Revenue | |
| Total assets | |
| Total equity | |
Number of employees | 20,565[5] (2017) |
| Website | www |
US$ 3,326.106 million (2013) Fastenal Company[6] is an American company based in Winona, Minnesota.[7] Fastenal's service model centers on approximately 3,200 in-market locations, each providing custom inventory and a dedicated sales team.[8]
Fastenal refers to itself as a supply chain solutions company,[9] while Reuters calls it an industrial distributor.[7]
History[]
Founded in 1967 by Bob Kierlin, it was incorporated December 24, 1968.[10] Fastenal's offerings are purchased, not made. But as of 2009, the company has at least one cold heading manufacturing line. By 2004, 50% of product was processed steel.
In 2012, Lee Hein took over as President of Fastenal. Hein started out in the company as a store employee.
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.[11]
Fastenal is also a sponsor of NASCAR since 2006 and most recently became the official MRO partner of the NHL in 2020.[12]
Canada[]
It entered the Canadian market in 1994.[citation needed] As of 2009, Fastenal had retail sales outlets in every Canadian province and two Canadian distribution centers. As of 2009, Fastenal had established retail outlets in 14 of Mexico's states as well as a distribution center.[13]
Mexico[]
It commenced its Mexico activities in 2001.[citation needed]
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[14] and import purchasing activities. Opening in 2001, Fastenal's Singapore location was its first site outside North America.[15] By 2009, sales operations in Shanghai were complemented by those in its larger neighbor Malaysia.[16] 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.
In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw-making company.[16] Fastenal and was added to the S&P 500 index in late 2008, replacing removed corporations.[17][18]
Products and services[]
Fastenal first sold mostly fasteners such as screws, threaded rods, and nuts, which are used in construction and manufacturing.[10] Today's product range is more diverse, and the company had a total of 690,000 individual products as of 2010.[7] In addition to a plethora of SKUs, the company offers a variety of services, including inventory management, small fastener manufacture, vending, and machining.[9]
Fastenal has retail stores in every U.S. state,[19] every province of Canada,[13] 14 Mexican states,[13] and Puerto Rico,[19] and Panama.[19]
Machining may be a better term for what Fastenal calls its "manufacturing" operations. As of 2000, the company employs 400-plus people at six manufacturing locations,[16] including one manufacturing bolts made using a newer method, cold heading, in Rockford, Illinois,[16] an operation in Wallingford,[16] Connecticut, and another in Malaysia, etc.[16]
Internationally, Fastenal has sites in China, Dominican Republic, Hungary, Malaysia, the Netherlands, Germany, Singapore, and the United Kingdom.[19] In 2006, the company had two sourcing offices in Asia, China and Taiwan, both have an accredited testing laboratory,[20] which, as of 2007, was A2LA certified.
See also[]
References[]
- ^ "Company Profile". Fidelity Investments. Retrieved April 11, 2019.
- ^ "Fastenal Company SEC Filing 10-K December 2014".
- ^ Jump up to: a b c d e f g h "FASTENAL CO 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 6, 2014.
- ^ Jump up to: a b "FASTENAL CO 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. April 16, 2014.
- ^ "Fastenal". Fortune. Retrieved 2019-01-18.
- ^ Fastenal Company (FAST) Stock Report nasdaq.com
- ^ Jump up to: a b c UPDATE 1-Fastenal Q3 results beat market estimates reuters.com, Tue Oct 12, 2010 8:33am EDT
- ^ "About Us | Fastenal". www.fastenal.com. Retrieved 2021-06-10.
- ^ Jump up to: a b About Us (Video) Fastenal official site
- ^ Jump up to: a b Fastenal Co (FAST.O) Fastenal About Us
- ^ "Archived copy". Archived from the original on 2016-01-02. Retrieved 2016-02-19.CS1 maint: archived copy as title (link)
- ^ "NHL Partnership | Fastenal". www.fastenal.com. Retrieved 2021-06-10.
- ^ Jump up to: a b c Fastenal Company to Acquire Holo-Krome Company Fastenal Official Site, December 9, 2009
- ^ President’s Letter to Shareholders 2004[permanent dead link] Fastenal Official Site
- ^ President’s Letter to Shareholders (2008)[permanent dead link] Fastenal Official Site
- ^ Jump up to: a b c d e f President’s Letter to Shareholders (2009)[permanent dead link] Fastenal Official Site
- ^ Salesforce.com, Fastenal to Replace Fannie, Freddie in S&P 500 bloomberg.com, September 9, 2008 17:45 EDT
- ^ Fastenal Company stock forecasting
- ^ Jump up to: a b c d Home > About Us > Company Overview > Distribution Overview Fastenal Official Site
- ^ President’s Letter to Shareholders 2006 Fastenal Official Site
External links[]
- Official Web Site
- Fastenal Racing
- Business data for Fastenal:
- Companies in the NASDAQ-100
- Companies listed on the Nasdaq
- Industrial supply companies
- Companies based in Minnesota
- Winona, Minnesota
- American companies established in 1967
- 1967 establishments in Minnesota