At-a-glance: Facts on Fastenal
- According to the company’s Web site: “The Fastenal Safety Division offers a wide array of products servicing both the industrial and construction markets.†Safety product lines distributed by Fastenal include:
- Fall Protection
- Ear Muffs and Plugs
- Gloves
- Head and Face Protection
- First Aid Products
- Respirators
- Eye Protection
- Traffic Control Products
- Protective Clothing
- Spill Containment
- Fastenal was founded in 1967 in Winona, Minn. by company Chairman, Bob Kierlin.
- States the company: “Fastenal has expanded to become the fastest growing full-line industrial distributor, and is now the largest fastener distributor in the nation.â€
- Fastenal operates an in-house manufacturing division, a product quality assurance and engineering department, 12 U.S. distribution centers, a fleet of more than 275 company-owned semi-trucks and trailers, and more than 1,800 store sites.
- Net sales for the year ended December 31, 2005, totaled $1.52 billion, an increase of 23 percent over net sales of $1.24 billion in 2004. Operating income increased from $207 million in 2004 to just under $268 million in 2005, an increase of 29.3 percent.
- Fastenal opened 222 new store sites in 2005. These 222 new sites represent an additional 14.5 percent stores since Dec. 31, 2004.
- There were 6,392 site employees as of Dec. 31, 2005, an increase of 16.2 percent from Dec. 31, 2004.
- Fastenal has adopted an expanded store model called CSP2. The CSP2 store model represents an expansion of the core stocking items and sales personnel in an existing store with the goal of driving additional product sales to existing customers, target customers, and specific geographic areas within established markets. During the first quarter of 2006, 44 stores were converted to the CSP2 format. This resulted in 74 stores converted to the CSP2 format since the third quarter of 2005.
In safety alone, Fastenal offers an array of products including:- Coveralls
- Fire Helmets
- Jackets
- Pants
- Turnout Gear Accessories
- Safety Fence Products
- Safety Tape
- Signs and Accessories
- Stake Flags
- Strobe Lights
- Traffic Cones
- Safety Glasses
- Safety Goggles
- Sideshields
- Hazardous Material Containers
- Spill Containment Platforms
- Spill Response Kits
- Respirator Cleaning Kits
- Respirator Storage Bags
- Respirators
- Acid Jackets and Suits
- All-Purpose Jackets and Suits
- Aprons
- Coveralls
- Elbow Pads
- Elbow Supports
- Hair Nets
- High Visibility Garments
- Anti-Vibration Gloves
- Chemical Resistant Gloves
- Cut Resistant Gloves
- Disposable Gloves
- Driver’s Gloves
- General Purpose Gloves
- Ear Muffs
- Ear Plug Dispensers
- Ear Plugs
- Fastenal’s goal is to continue opening approximately 13 – 18 percent new stores each year (calculated on the ending number of stores in the previous year). On Dec. 31, 2005, the company operated 1,755 stores. It expects to open approximately 228 to 316 new stores in 2006.
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