Fastenal Company engages in the wholesale distribution of industrial and construction supplies to end-users (business-to-business) and also has some 'walk-in' retail business. The company distributes its supplies through a network of approximately 2,700 company owned stores located primarily in North America. The company operates 11 regional distribution centers in the United States—Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, Washington, California, Utah, North Carolina, and Kansas, as well as 3 outside the United States – Ontario, Canada; Alberta, Canada; and Nuevo Leon, Mexico. The company operates its Minnesota, Indiana, Ohio, Pennsylvania, Texas, Georgia, California, and Ontario, Canada distribution centers with 'automated storage and retrieval systems'. Products The company’s product offerings are fasteners and other industrial and construction supplies, majority 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, such as threaded fasteners, including 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 ropes, strut, rivets, and related accessories. Threaded fasteners are used in various manufactured products and building projects, and in the maintenance and repair of machines and structures. Manufacturing and Support Services Operations The manufactured products consist primarily of non-standard sizes of threaded fasteners made to customers’ specifications or standard sizes manufactured under the company’s Holo-Krome product line. The services provided by the support services group include, but are not limited to, items, such as tool repair, band saw blade welding, and light manufacturing. Customers and Marketing Majority of the company’s customers are in the manufacturing and non-residential construction markets. The manufacturing market includes both original equipment manufacturers, and maintenance and repair operations. The non-residential construction market includes general, electrical, plumbing, sheet metal, and road contractors. Other users of the company’s products include farmers; truckers; railroads; oil exploration, production, and refinement companies; mining companies; federal, state, and local governmental entities; schools; and certain retail trades. During 2014, the company’s total number of active customer accounts was approximately 399,000, while its total 'core accounts' was approximately 100,000. Trademarks and Service Marks The company conducts business under various trademarks and service marks, and utilizes various designs and tag lines in connection with each of these marks, including First In Fasteners. The company considers the ‘Fastenal’ name and its other trademarks and service marks to be valuable to the company’s business. Seasonality Seasonality has some impact on the company’s sales. During the winter months, its sales to customers in the non-residential construction market slow due to inclement weather. History Fastenal Company was founded in 1967. The company was incorporated under the laws of Minnesota in 1968.
fastenal co (FAST:NASDAQ GS)
2001 Theurer Boulevard
Winona, MN 55987
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