Daniel L. Florness
President, CEO & Director
Executive VP & CFO
Nicholas J. Lundquist Jr.
Senior Executive Vice President of Operations
Fastenal was founded in the year 1967. The company has been operational for almost 52 years now. The founder of the company was Bob Kierlin. The company was incorporated in the year 1968. Fastenal's offerings are mainly all purchased and not made. In the year 1987, the company had become a limited public entity. But as of the year 2009, the company has at least one cold heading manufacturing line as well. By the year 2004, 50 per cent of the product that was processed was steel. It had entered the Canadian market in the year 1994. As of the year 2009, the company had retail sales outlets in every province and two Canadian distribution centres as well. The same year, the company had established retail outlets in almost fourteen of Mexico's states as well as a distribution centre too. The company had started its Mexico activities in the year 2001.
The company's Asian trading company, Fastenal Asian Sourcing and Trading, is mainly a wholly foreign-owned enterprise, which is located in Shanghai, China, where it directs mostly sourcing and also import purchasing activities too. Opening in the year 2001, the company's Singapore location was its first site outside North America as well. By the year 2009, the sales operations in Shanghai were complemented by those in its larger neighbour, which was Malaysia. Locally incorporated Fastenal Malaysia SDN BHD is associated with Fastenal's Malaysian activities too as well. The company mainly operates an A2LA accredited testing laboratory in Malaysia, as of the year 2014. Then in the year 2009, Fastenal acquired parts of Holo-Krome - which was a US-based socket head screw-making company. Fastenal and was added to the S&P 500 index by the end of the year 2008, replacing the removed corporations too. As of the year 2012, Lee Hein had taken over as President of Fastenal. Lee Hein started out in the company as a store employee. As of the year 2016, Daniel L Florness became the President and CEO of the company. Daniel Florness started with the company in 1996 as the company's CFO. In the year 2017, Fastenal.ca was launched as well. The headquarters of the company is based in 2001 Theurer Boulevard. The name of the place is Winona, while the name of the state is Minnesota, USA. The pin code of the area is 55987.
Fastenal is an American company that focuses on providing various types of distribution centres, inventory management services, etcetera, for all of its customers and clients, around the world. As of the year 2018, the company has its presence in over 2,200 locations across the globe. The company provides its services in Asia, Europe, Canada, the USA and Mexico, with the help of its 13 distribution centres. As of the year 2013, the company's annual revenue is more than $3,326 million. Also, the number of employees working at the company, as of the year 2017, is more than 20,500. The company is ranked at 687 places in the Fortune 1000 companies list. The current CEO of the company is William D Oberton.
The primary services provided by the company include allowing customers and clients to obtain industrial and construction supplies, help in inventory management, repairing and manufacturing of tools and also acts as an industrial distributor too. The company also indulges in global sourcing services and logistics operations too. The clients of the company include government entities, railroad companies, mining companies, farmers, schools, truckers, etcetera.
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