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Fastenal

Leading distributor of fasteners and industrial products.

Headquarters:
2001 Theurer Blvd.
Winona, MN 55987
Employees: 7,174
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 over 2,000 Store sites.

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 over 2,000 stores with locations in all 50 states, Canada, Mexico, the Dominican Republic, Puerto Rico, Singapore, Europe, and China.

In 2006, Fastenal reported sales of $1.8 billion and net income of $199.0 million.

The company opened 245 new sites in 2006.

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 July 21, 2007