Profile: Fastenal Co (FAST.O)
26 May 2016
Fastenal Company, incorporated on December 24, 1968, is engaged in wholesale distribution of industrial and construction supplies. The Company distributes these supplies through a network of approximately 2,600 Company-owned stores. The Company sells industrial and construction supplies to end users (business-to-business), and also has a walk-in retail business. The Company operates approximately 10 distribution centers in North America. The Company's 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 products include farmers, truckers, railroads, mining companies, schools and certain retail trades.
The Company's original product offerings were fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. The Company's product line, which it refers to as the fastener product line, consists of approximately two categories, including 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 manufactured products and building projects, and in the maintenance and repair of machines and structures. The Company's product line includes fasteners, cutting tools, tools, hydraulics and pneumatics, material handling, janitorial supplies, electrical supplies, safety supplies, metals, direct ship and office supplies.
The Company has various versions of selling locations. The first type of selling location is a Fastenal store location that is either a traditional store, which services a range of customers and stocks a selection of the products the Company offers or an overseas store, which focuses on manufacturing customers and on the fastener product line (this is the type of store format it has outside the United States and Canada). In addition to the Fastenal store types, the Company also operates strategic account stores, strategic account sites and Onsite locations. A strategic account store is a location that sells to multiple customers in a market. A strategic account site operates out of an existing store location, rather than a location. An Onsite location is a selling unit located in or near a customer's facility that sells product solely to that customer. The Company operates approximately 10 regional distribution centers in the United States-Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina and Kansas, and over three outside the United States, including Ontario, Canada; Alberta, Canada, and Nuevo Leon, Mexico.
2001 Theurer Blvd
WINONA MN 55987-1500