25 Years After Going Global, Fastenal’s International Presence Continues To Gain Traction
September 25 2019 - 5:48PM
Business Wire
The milestones continue to accumulate for Fastenal in 2019. In
June, Fastenal celebrated its 100,000th active vending machine. In
July, it announced its 1,000th Onsite location. And now, September
brings 25 years as an international company.
For much of 1994, Fastenal was only in the United States, known
primarily as a Midwest fastener distributor, with fewer than 350
locations and $162 million in annual sales. In September, our first
branch outside of the U.S. was opened in Stoney Creek, Ontario,
Canada, with just two employees. This humble beginning set the
stage for a remarkable success story. As of today, Fastenal’s
presence in Canada includes more than 1,500 employees, 250
in-market locations, 7,000 vending machines, and two regional
distribution centers. Thanks to these individuals and resources,
Fastenal Canada accounted for over 6% of total company revenues, or
$300 million, in 2018.
Fastenal’s success in Canada led to new opportunities for the
‘Blue Team’ around the world. In 2001, a branch was opened in
Monterrey, Mexico, followed by another in Singapore – Fastenal’s
first step beyond North America. The Netherlands joined our branch
network in 2004, giving Fastenal a presence in Europe; and a 2011
branch opening in Brazil pioneered the South American market.
Today, Fastenal’s international business includes 24 countries,
four continents, 3,613 employees, 477 in-market locations, and
revenues generated from markets outside of the United States
accounting for about 14% of Fastenal’s total.
This global growth stems from a simple approach employed by
Fastenal for more than 50 years: hire great people, give them great
support, and empower them to make great decisions for their
customers and the company. Virtually all of the current
international leadership roles are filled by individuals who were
hired locally as branch-level employees and have ascended through
the ranks to key decision-making positions. Fastenal’s current
Executive Vice President of International Sales, Jeff Watts, is a
prime example. A native Canadian, he joined Fastenal as a branch
employee in 1996. Within a year, he was managing his own branch,
and within two years, he was a district manager in Ontario. Over
the next two decades, he opened locations across Canada and Europe
and served as a regional vice president before taking on his
current position.
“We recruit hard for the people we know we need, individuals who
have that entrepreneurial career mindset,” said Watts. “Fastenal’s
scale allows us to expand and grow, but it’s the desire of the
people in the field who get the job done. And we understand that we
have a responsibility to the hundreds of employees in each country
where we operate. We need to make sure we give them the support
they need to be successful.”
“Whether it’s in the U.S. or an international market, Fastenal’s
success is predicated on great people,” added Dan Florness,
President and CEO. “It’s about being able to make a commitment to
our customers: Regardless of the location, you’ll find someone
wearing a blue shirt who’s trustworthy, helpful, and will bring
value to your business. We’re fortunate to have a great team across
the planet that delivers on this commitment each and every
day.”
About Fastenal
Fastenal helps customers simplify and realize product and
process savings across their supply chain. We sell a broad offering
of products spanning more than nine major product lines – from
fasteners and tools to safety and janitorial supplies. These
products are efficiently distributed to manufacturing facilities,
job sites, and other customer locations through local service teams
and point-of-use inventory solutions, including industrial vending
technology and bin stock programs (Fastenal Managed Inventory, or
FMI®). Our distribution system centers on approximately 3,200
in-market locations (a combination of public branches and
customer-specific Onsite locations), primarily in North America but
also in Asia, Europe, and Central and South America, each providing
tailored inventory, flexible service, and custom solutions to drive
the unique goals of local customers. These in-market servicing
locations are supported by 14 regional distribution centers, a
captive logistics fleet, robust sourcing, quality and manufacturing
resources, and multiple teams of industry specialists and support
personnel – all working toward Fastenal’s common goal of Growth
Through Customer Service®.
Additional information regarding Fastenal is available on the
Fastenal Company website at www.fastenal.com.
FAST-G
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