The company aims to have 30,000 new vending machines under contract by the end of 2013.
Fastenal (Nasdaq: FAST), which passed its 2012 goal of signing contracts for 10,000 new industrial vending machines within the first seven months of that year, has tripled its vending goals for 2013. The company aims to have 30,000 new vending machines under contract by the end of 2013.
Fastenal had 1,925 machines installed with customers as of the fourth quarter 2010; at the end of 2012’s fourth quarter, the company had 21,095 machines installed, an almost 1,000 percent increase over a two-year period. Vending sales made up more than a quarter of Fastenal’s sales in the 2012 fourth quarter.