History of Fastenal in Timeline
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.
2 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.
1967: Company 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: Daniel L. Florness Joins Fastenal
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: 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.
2001: Singapore Location Opened
In 2001, Fastenal's Singapore location was 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 accredited testing laboratory was A2LA certified.
2008: Addition to the S&P 500 Index
In late 2008, Fastenal was added to the S&P 500 index.
2009: Shanghai Sales Operations Expanded
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: Total Number of Products Offered
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 President and CEO
In January 2016, Daniel L. Florness became the President and CEO of Fastenal.
2020: Official MRO Partner of the NHL
In 2020, Fastenal became the official MRO partner of the NHL.
2020: Fortune 500 Ranking
In 2020, Fastenal's revenues led to a 479th place ranking in the 2021 Fortune 500.
2021: Fortune 500 Ranking Achieved
Fastenal was placed 479 in the 2021 Fortune 500.
March 2023: Number of In-Market Locations
As of March 2023, Fastenal had 3,334 in-market locations.
Mentioned in this timeline
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