Profile: Fastenal Co (FAST.O)
7 Mar 2014
Fastenal Company, incorporated in 1968, is engaged in selling industrial and construction supplies in a wholesale and retail fashion. The industrial and construction supplies are grouped into eleven product lines. The Company distributes the supplies through a network of approximately 2,600 company owned stores. Most of its customers are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers (OEM) and maintenance and repair operations (MRO). The non-residential construction market includes general, electrical, plumbing, sheet metal, and road contractors. Other users of its product include farmers, truckers, railroads, mining companies, federal, state, and local governmental entities, schools, and certain retail trades. Geographically, its stores and customers are primarily located in North America. As of December 31, 2011, the Company had 2,585 store locations.
As of December 31, 2011, the Company operated 14 distribution centers in North America, from which it distributed products to its store and in-plant locations. Its original product offerings were fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. This product line, which it refers to as the fastener product line, consists of two categories: threaded fasteners, such as bolts, nuts, screws, studs, and related washers; and miscellaneous supplies, and hardware, such as various pins and machinery keys, concrete anchors, metal framing systems, wire rope, strut, rivets, and related accessories. Threaded fasteners are used in most manufactured products and building projects, and in the maintenance and repair of machines and structures.
The Company has several versions of selling locations. A Fastenal store location, can be defined as either a traditional store, which services a variety of customers and stocks a selection of all the products it offers or an overseas store, which focuses on manufacturing customers and on the fastener product line (this is the type of store format the Company has outside of North America). During the year ended December 31, 2011, the Company opened 37 stores, and closed 28 stores. During 2011, it operated 11 distribution centers in the United States-Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, and Kansas, and three outside the United States -Ontario, Canada; Alberta, Canada, and Nuevo Leon, Mexico.
2001 Theurer Blvd.
WINONA MN 55987