History of Fastenal in Timeline

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Fastenal

Fastenal Company, founded in 1967 and headquartered in Winona, Minnesota, is a publicly traded American company. It ranked 479th on the 2021 Fortune 500 based on its 2020 revenue. Fastenal's stock is included in both the Nasdaq 100 and S&P 500 stock market indices. As of March 2023, Fastenal operated with 3,334 in-market locations.

4 hours ago : Fastenal's Valuation, Price Target, and New Digital Strategy Focus with Tunnicliff's Appointment.

Analysis of Fastenal's stock valuation and Barclays' lowered price target. The appointment of Max Tunnicliff may signal a shift in Fastenal's digital strategy and supply chain focus. The new digital strategy will determine financial outcomes.

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1967: Company Founded

In 1967, Fastenal Company was founded in Winona, Minnesota.

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December 24, 1968: Company Incorporation

On December 24, 1968, Fastenal was officially incorporated.

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1994: Entry into Canadian Market

In 1994, Fastenal entered the Canadian market.

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1996: Daniel L. Florness Joins Fastenal

In 1996, Daniel L. Florness started with Fastenal as the company's chief financial officer.

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1999: Entry into Mexican Market

In 1999, Fastenal entered the market in Mexico.

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2000: Company Employment and Manufacturing

As of 2000, Fastenal employs 400-plus people at six manufacturing locations, including one manufacturing bolts made using a newer method, cold heading, in Rockford, Illinois; an operation in Wallingford, Connecticut, and another in Malaysia, etc.

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2001: Singapore Location Opened

In 2001, Fastenal's Singapore location was opened, marking its first site outside North America.

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2006: Sourcing Offices in Asia

In 2006, Fastenal had two sourcing offices in Asia, China and Taiwan.

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2006: NASCAR Sponsorship

Since 2006, Fastenal has been a sponsor of NASCAR.

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2007: A2LA Certified Testing Laboratory

As of 2007, Fastenal's accredited testing laboratory was A2LA certified.

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2008: Addition to the S&P 500 Index

In late 2008, Fastenal was added to the S&P 500 index.

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2009: Shanghai Sales Operations Expanded

By 2009, sales operations in Shanghai were complemented by those in its larger neighbor Malaysia.

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2009: Acquisition of Holo-Krome Parts

In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw-making company.

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2010: Total Number of Products Offered

As of 2010, Fastenal had a total of 690,000 individual products.

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2014: A2LA Accredited Testing Laboratory in Malaysia

As of 2014, Fastenal runs an A2LA accredited testing laboratory in Malaysia.

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January 2016: Daniel L. Florness Appointed President and CEO

In January 2016, Daniel L. Florness became the President and CEO of Fastenal.

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2020: Official MRO Partner of the NHL

In 2020, Fastenal became the official MRO partner of the NHL.

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2020: Fortune 500 Ranking

In 2020, Fastenal's revenues led to a 479th place ranking in the 2021 Fortune 500.

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2021: Fortune 500 Ranking Achieved

Fastenal was placed 479 in the 2021 Fortune 500.

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March 2023: Number of In-Market Locations

As of March 2023, Fastenal had 3,334 in-market locations.

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