Fastenal Company is an

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common p ...

based in

Winona Winona, Wynona or Wynonna may refer to: Places Canada * Winona, Ontario United States * Winona, Arizona * Winona, Indiana * Winona Lake, Indiana * Winona, Kansas * Winona, Michigan * Winona County, Minnesota ** Winona, Minnesota, the seat of Wi ...

Minnesota Minnesota () is a state in the upper midwestern region of the United States. It is the 12th largest U.S. state in area and the 22nd most populous, with over 5.75 million residents. Minnesota is home to western prairies, now given over to ...

founded in 1967. It ranked 479 in the 2021

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

based on its 2020 revenues, and its stock is a component of the

Nasdaq 100 The Nasdaq-100 (^NDX) is a stock market index made up of 101 equity securities issued by 100 of the largest non-financial companies listed on the Nasdaq stock exchange. It is a modified capitalization-weighted index. The stocks' weights in the in ...

and

S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...

stock market indices. Fastenal's service model centers on approximately 3,200 in-market locations. Fastenal refers to itself as a supply chain solutions company,About Us (Video)
Fastenal official site while

Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...

calls it an industrial distributor.

History

Founded in 1967 by

Bob Kierlin Robert A. Kierlin (born June 1, 1939) is an American businessman and former politician. Born in Winona, Minnesota, Kierlin graduated from Cotter High School in Winona. He received his bachelor's and master's degrees from University of Minnesota. ...

, the company was incorporated on December 24, 1968.Fastenal Co (FAST.O)
Fastenal About Us 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 The National Association for Stock Car Auto Racing, LLC (NASCAR) is an American auto racing sanctioning and operating company that is best known for stock car racing. The privately owned company was founded by Bill France Sr. in 1948, and hi ...

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 At a minimum, a screw drive is a set of shaped cavities and protrusions on the screw head that allows torque to be applied to it. Usually, it also involves a mating tool, such as a screwdriver, that is used to turn it. The following heads are ca ...

-making company. Fastenal and was added to the

index in late 2008, replacing removed corporations.Fastenal Company stock forecasting
/ref>

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.Fastenal Company to Acquire Holo-Krome Company
Fastenal Official Site, December 9, 2009

Asia

Fastenal's

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

n trading company, Fastenal Asian Sourcing and Trading Co, is a

Wholly Foreign-Owned Enterprise A wholly foreign-owned enterprise (WFOE, sometimes incorrectly WOFE) is a common investment vehicle for mainland China-based business wherein foreign parties (individuals or corporate entities) can incorporate a foreign-owned limited liability c ...

located in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

, where it directs sourcingPresident’s Letter to Shareholders 2004
Fastenal Official Site and import purchasing activities. Opening in 2001, Fastenal's

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

location was its first site outside

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

.President’s Letter to Shareholders (2008)
Fastenal Official Site By 2009, sales operations in Shanghai were complemented by those in its larger neighbor

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

.President’s Letter to Shareholders (2009)
Fastenal Official Site 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

Quakertown Fastenal location April 30 2018

Fastenal first sold mostly

fastener A fastener (US English) or fastening (UK English) is a hardware device that mechanically joins or affixes two or more objects together. In general, fasteners are used to create non-permanent joints; that is, joints that can be removed or disman ...

s such as

screw A screw and a bolt (see '' Differentiation between bolt and screw'' below) are similar types of fastener typically made of metal and characterized by a helical ridge, called a ''male thread'' (external thread). Screws and bolts are used to fa ...

threaded rod A threaded rod, also known as a stud, is a relatively long rod that is threaded on both ends; the thread may extend along the complete length of the rod. They are designed to be used in tension. Threaded rod in bar stock form is often called all ...

s, 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.UPDATE 1-Fastenal Q3 results beat market estimates
reuters.com, Tue Oct 12, 2010 8:33am EDT In addition to a plethora of

SKU In inventory management, a stock keeping unit (abbreviated as SKU and pronounced or ) is the unit of measure in which the stocks of a material are managed. Or to put it another way; is a distinct type of item for sale, purchased, or tracked in ...

s, the company offers a variety of services, including inventory management, small

manufacture, vending, and

machining Machining is a process in which a material (often metal) is cut to a desired final shape and size by a controlled material-removal process. The processes that have this common theme are collectively called subtractive manufacturing, which utilizes ...

. Fastenal has retail stores in every U.S. state,Home > About Us > Company Overview > Distribution Overview
Fastenal Official Site every province of Canada, 14 Mexican states, and

Puerto Rico Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...

, and

Panama Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Cos ...

. 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 Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...

, an operation in Wallingford,

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...

, and another in Malaysia, etc. Internationally, Fastenal has sites in China,

Dominican Republic The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares wit ...

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia a ...

, Malaysia, the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

, Singapore, and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

. In 2006, the company had two sourcing offices in Asia, China and Taiwan, both have an accredited testing laboratory,President’s Letter to Shareholders 2006
Fastenal Official Site which, as of 2007, was A2LA certified.

References

External links

* {{authority control, state=expanded Industrial supply companies Companies based in Minnesota Winona, Minnesota American companies established in 1967 1967 establishments in Minnesota