Profile: Fastenal Co (FAST.OQ)
15 Nov 2019
Fastenal Company, incorporated on December 24, 1968, is engaged in wholesale distribution of industrial and construction supplies. The Company is engaged in fastener distribution, and non-fastener maintenance and supply business. As of December 31, 2016, it distributed these supplies through a network of approximately 2,500 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, repair, and 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, oil exploration, production and refinement companies, 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's original product offerings are fasteners and other industrial and construction supplies, many of which are sold under the Fastenal product name. This product line, which the Company 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. The Company's threaded fasteners are used in manufactured products and building projects, and in the maintenance and repair of machines and structures.
The Company has various versions of selling locations. The first type of store is the traditional store, which services a range of customers and stocks a range of selection of the products the Company offers. The second type of the store is the overseas store, which focuses on manufacturing customers and its fastener product line, and is the format, which the Company deploys outside the United States and Canada. The third type of the store is the strategic account store, a location that sells to multiple accounts in a market. The fourth type of store is the strategic account site, which is similar to a strategic account store, but operates out of an existing store. The fifth type of store is the Onsite location, which is a selling unit located in or near a customer's facility that sells product solely to that customer.
As of December 31, 2016, the Company operated 11 regional distribution centers in the United States, including Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, and Kansas, and three outside the United States, including Ontario, Canada; Alberta, Canada, and Nuevo Leon, Mexico. It operates its Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, California, North Carolina, and Ontario, Canada distribution centers with automated storage and retrieval systems (ASRS). The Indiana facility also contains its centralized replenishment facility for a portion of its industrial vending business. It uses various suppliers for the standard stock items it distributes. Its manufacturing business consists of two subsets: the industrial production business, in which it supplies products that become part of the finished goods produced by its customers and is sometimes referred to as OEM, and the maintenance portion, in which it supplies products that maintain the facility or the equipment of its customers engaged in manufacturing and is sometimes referred to as MRO.
2001 Theurer Blvd
WINONA MN 55987-1500