Fastenal Company is an American publicly traded

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

based in Winona,

Minnesota Minnesota ( ) is a U.S. state, state in the Upper Midwestern region of the United States. It is bordered by the Canadian provinces of Manitoba and Ontario to the north and east and by the U.S. states of Wisconsin to the east, Iowa to the so ...

, founded in 1967. It placed 479 in the 2021

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

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 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 index ...

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 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...

stock market indices. Fastenal had 3,334 in-market locations as of March 2023. 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. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...

calls it an industrial distributor.

History

Founded in 1967 by

Bob Kierlin Robert A. Kierlin (June 1, 1939 – February 10, 2025) was an American businessman and politician. Born in Winona, Minnesota, Kierlin graduated from Cotter High School in Winona. He received his bachelor's in Mechanical Engineering and master' ...

, 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. It is considered to be one of the top ranked motorsports organizations in ...

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. Some of the less-common dri ...

-making company. Fastenal then was added to the

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

Asia

Fastenal's

Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...

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 ...

located in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

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

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

location was its first site outside

North America North America is a continent in the Northern Hemisphere, Northern and Western Hemisphere, Western hemispheres. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South Ameri ...

.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. Featuring the Tanjung Piai, southernmost point of continental Eurasia, it is a federation, federal constitutional monarchy consisting of States and federal territories of Malaysia, 13 states and thre ...

.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 is an externally helical threaded fastener capable of being tightened or released by a twisting force (torque) to the screw head, head. The most common uses of screws are to hold objects together and there are many forms for a variety ...

threaded rod A threaded rod, also known as a stud, is a relatively long rod that is screw thread, threaded on both ends; the thread may extend along the complete length of the rod. They are designed to be used in tension (physics), tension. Threaded rod in ba ...

s, and

nuts Nut often refers to: * Nut (fruit), fruit composed of a hard shell and a seed * Nut (food), a dry and edible fruit or seed, including but not limited to true nuts * Nut (hardware), fastener used with a bolt Nut, NUT or Nuts may also refer to: A ...

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

manufacture, vending and

machining Machining is a manufacturing process where a desired shape or part is created using the controlled removal of material, most often metal, from a larger piece of raw material by cutting. Machining is a form of subtractive manufacturing, which util ...

. 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,

Puerto Rico ; abbreviated PR), officially the Commonwealth of Puerto Rico, is a Government of Puerto Rico, self-governing Caribbean Geography of Puerto Rico, archipelago and island organized as an Territories of the United States, unincorporated territo ...

and

Panama Panama, officially the Republic of Panama, is a country in Latin America at the southern end of Central America, bordering South America. It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean Sea to the north, and ...

. 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. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

; an operation in Wallingford,

Connecticut Connecticut ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the south. ...

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

Dominican Republic The Dominican Republic is a country located on the island of Hispaniola in the Greater Antilles of the Caribbean Sea in the Atlantic Ocean, North Atlantic Ocean. It shares a Maritime boundary, maritime border with Puerto Rico to the east and ...

Hungary Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, 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 and ...

, Malaysia, the

Netherlands , Terminology of the Low Countries, informally Holland, is a country in Northwestern Europe, with Caribbean Netherlands, overseas territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Nether ...

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

, 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 Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

. 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.

Gallery

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 Companies in the S&P 500 Dividend Aristocrats