History of Fastenal in Timeline
Fastenal Company, founded in 1967 and headquartered in Winona, Minnesota, is a publicly traded industrial supply company. It offers various solutions, including bin stock management, vending machines, and total cost of ownership analysis, aiming to improve customer efficiency. Fastenal's financial success led to its inclusion in the Fortune 500 (ranked 479th in 2021 based on 2020 revenues) and its stock being part of the Nasdaq 100 and S&P 500 indices. As of March 2023, Fastenal operates with 3,334 in-market locations.
1967: Fastenal Founded by Bob Kierlin
In 1967, Bob Kierlin founded Fastenal.
1967: Fastenal Founded
In 1967, Fastenal Company was founded in Winona, Minnesota.
December 24, 1968: Company Incorporation
On December 24, 1968, Fastenal was officially incorporated.
1994: Entry into Canadian Market
In 1994, Fastenal entered the Canadian market.
1996: Florness Joins Fastenal as CFO
In 1996, Daniel L. Florness started with Fastenal as the company's chief financial officer.
1999: Entry into Mexican Market
In 1999, Fastenal entered the market in Mexico.
2000: Manufacturing Locations
As of 2000, Fastenal employs 400-plus people at six manufacturing locations.
2001: Singapore Location Opens
In 2001, Fastenal's Singapore location opened, marking its first site outside North America.
2006: NASCAR Sponsorship
Since 2006, Fastenal has been a sponsor of NASCAR.
2007: A2LA Certified Testing Laboratory
As of 2007, Fastenal's testing laboratory was A2LA certified.
2008: Addition to S&P 500 Index
In late 2008, Fastenal was added to the S&P 500 index.
2009: Sales Operations in Malaysia
By 2009, sales operations in Shanghai were complemented by those in its larger neighbor Malaysia.
2009: Acquisition of Holo-Krome Parts
In 2009, Fastenal acquired parts of Holo-Krome, a socket head screw-making company.
2010: Product Range Expansion
As of 2010, Fastenal had a total of 690,000 individual products.
2014: A2LA Accredited Testing Laboratory in Malaysia
As of 2014, Fastenal runs an A2LA accredited testing laboratory in Malaysia.
January 2016: Daniel L. Florness Appointed CEO
In January 2016, Daniel L. Florness became the President and CEO of Fastenal.
2020: Fortune 500 Ranking Based on Revenues
Fastenal's 2021 Fortune 500 ranking was based on the company's 2020 revenues.
2020: Official MRO Partner of the NHL
In 2020, Fastenal became the official MRO partner of the NHL.
2021: Fortune 500 Ranking
In 2021, Fastenal was placed 479 in the Fortune 500 based on its 2020 revenues.
March 2023: In-Market Locations
As of March 2023, Fastenal had 3,334 in-market locations.
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