Profile: Fastenal Co (FAST.O)
5 Mar 2015
Fastenal Company, incorporated on December 24, 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.
The Company offers services, such as inventory & product solutions, quality, engineering & lab services, manufacturing services, and industrial services. Inventory & product solutions include Custom Packaging, Industrial Vending, OEM Fasteners, Process Mapping, and Product Sourcing. Quality, engineering & lab services include A2LA Accredited Calibration & Lab Testing, Quality Assurance, and Fastenal Engineering. Manufacturing Services include Custom Manufacturing, Metals, Alloys & Materials Services, Tool and Cutter Regrind, and Special Tap Program. Industrial Services include Cut-to-Length Metal, Chain, & Cable, Calibration & Repair, Third Party Logistics (3PL), and Weld-to-Length Bandsaws.
The Company’s 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. As of December 31, 2013, 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).
As of September 30, 2014, it distributes these supplies through a network of approximately 2,700 company owned stores. Other users of its product include farmers, ranchers, 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, 2013, the Company had 2,687store locations. As of December 31, 2013, the Company operated 14 distribution centers in North America, from which it distributed products to its store and in-plant locations. Eleven of these are in the United States, two are in Canada, and one is in Mexico. It operate eleven regional 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. These 14 distribution centers gives over 2.7 million square feet of distribution capacity.
2001 Theurer Blvd
WINONA MN 55987-1500