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Fastenal

Headquarters:
2001 Theurer Blvd.
Winona, MN 55987
Employees: 12,045
CEO: William Oberton
Stock Symbol: FAST

Website: http://www.fastenal.com

Career Site

Fastenal was founded in 1967 in Winona, MN by company Chairman, Bob Kierlin. Fastenal has expanded to become the fastest growing full-line industrial distributor, and is now the largest fastener distributor in the nation. The company has an in-house Manufacturing Division, a product Quality Assurance and Engineering Department, a strategic system of 12 Distribution Centers in the U.S., a fleet of over 275 company-owned semi-trucks and trailers and 2,369 Store loations.

Fasteners hold items together and include nails, bolts, rivets, nuts, pins, rods, screws, struts and washers.

The company has products in the following categories:

- Abrasives
- Chemicals & Paints
- Cutting Tools & Metal Working
- Electrical
- Fasteners
- Hydraulics, Pneumatics & Plumbing
- Janitorial
- Material Handling, Storage, & Packaging
- Metals, Alloys and Materials
- Mil-Spec
- Safety
- Supplier Diversity
- Tools & Equipment
- Welding

Fastenal owns and operates stores in all 50 states, Canada, Mexico, the Dominican Republic, Puerto Rico, Singapore, Europe, and China.

In 2009, Fastenal reported sales of $1.93 billion, a 17.5% decrease, and net income of $184.3 million. There were 12,045 total employees at the end of 2009, an 11.7% decrease. Fastenal opened 69 new stores in 2009.

History

The Fastenal story began in 1967 with the opening of the first store in Winona, MN, by Bob Kierlin. The concept for Fastenal Company originated from Bob's idea to produce a vending machine that would provide nuts and bolts to customers. After surviving the typical struggles of a startup business during the first few years, Fastenal found its niche and took off. Since going public in 1987 with 50 stores and $30 million in sales, Fastenal has grown to over 2,000+ stores and $1.8 billion in annual sales.

Updated January 20, 2010