Fastenal
Encyclopedia
Fastenal Co is an American company based in Winona, Minnesota
. Selling industrial and construction supplies and services including inventory management services, Fastenal refers to itself as an industrial supply company, but Reuters
calls it an industrial distributor.
the next year.
Fastenal's offerings are purchased, not made. But as of 2009, the company has at least one cold heading
manufacturing line.
By 2004, 50% of product by weight was processed steel.
.
The company sells both retail and wholesale.
Manufacturers and government agencies buy from Fastenal.
In 2007, Fastenal claimed that at least 20% sales and profit growth and ROI
were achievable during a normal economic cycle.
Customers sometimes ask for lower prices due to externalities.
were added to the S&P 500
index in late 2008, replacing removed corporations.
s such as screw
s, threaded rod
s, and nuts
, which can be used in construction and manufacturing. Other product lines do exist. The company had a total of 690,000 individual products as of 2010.
manufacture, and machining
.
s full of needed supplies, such as MRO
wares, drill bit
s, and tool bit
s, for placement inside smaller client company locations. Fastenal founder Bob Kierlin originated this plan. While others may offer similar services, Fastenal's vending machines are a disruptive technology
, nonetheless.
, China
, and the Netherlands
. Overseas sales operations seek larger client companies than do the small, local North American shops.
, China, where it directs sourcing and import purchasing activities. By 2007, its employees were physically auditing factories it purchased from for quality and "social compliance" (which means strong commitment to capitalism). Established in 2003, as of 2007, its activities included quality control
. By 2008, it was also conducting sales operations.
events and drivers, most prominently Carl Edwards
.
As of 2011, the company continues to sponsor NASCAR events.
as its sponsored GP2 Series
driver, showing solidarity with Mexico
where it has operations.
In 2006 and 2007, Fastenal Racing sponsored the No. 18 Dodge and Bobby Hamilton Racing
in the NASCAR Craftsman Truck Series. 2006 saw Bobby Hamilton Sr. and Bobby Hamilton Jr. participate, and in 2007 driver Kenny Schrader took the front seat.
As of 2006, Fastenal customers were likely to watch this event. A television commercial for the company was also produced this year.
"NNS" is a saloon car racing event popular in the Southern United States.
Fastenal sponsored the Chip Ganassi Racing
entry, the No. 40 Dodge with Felix Sabates
and lead driver Dario Franchitti
, in the 2008 NASCAR Nationwide Series
.
In 2009, Fastenal Racing began a partnership with JR Motorsports
. Dale Earnhardt Jr, Scott Wimmer, Ryan Newman, and Ron Fellows were seated in the No. 5 "Fastenal Chevrolet" for 14 out of 21 2009 NASCAR Nationwide Series
races.
For the 2010 NASCAR Nationwide Series
Fastenal Racing began its storied partnership with Roush Fenway Racing and Carl Edwards
. He was seated in the No. 60 car, and Fastenal sponsored 15 out of 21 races.
Carl Edwards
remains in the No. 60 Ford for the 2011 NASCAR Nationwide Series
, and Fastenal will sponsor 15 out of 21 races.
Fastenal has retail stores in every US state, every province of Canada
, 14 Mexican
states, and Puerto Rico
, and Panama
.
The company operates 16 distribution centers in California, Georgia, Indiana, Kansas, Minnesota, North Carolina, Ohio, Pennsylvania, Utah, and Washington, in the cities of Denton, Texas, and Houston, Texas, in the Canadian provinces of Alberta and Ontario, in the state of Nuevo León
, Mexico, and in the Malaysian city Nusajaya.
As of 2007, Fastenal operates its own freight fleet in order to reduce highway transport costs.
The location of the first Fastenal site, Winona, Minnesota
, has now become that of the company's headquarters. By 2005, a central collections office had been established in Caledonia, Minnesota, 40 miles (64.4 km) south of Winona.
Machining
is a better term for many of Fastenal "manufacturing" operations. As of 2000, the company employs 400+ people at "six" manufacturing locations, including one manufacturing bolts made the new-fangled way, cold heading, in Rockford, Illinois, an operation in West Hartford, Connecticut, and another in Malaysia, etc. These sites are probably joined by others in Indianapolis and in Modesto.
Fastenal has sites in China
, Dominican Republic
, Hungary
, Malaysia, the Netherlands
,Germany, Singapore
, and the United Kingdom
.
In 2006, the company had two offices in Taiwan
, one of which included a product testing laboratory, which, as of 2007, was A2LA certified.
, Oregon
, and Pennsylvania
, these plaintiffs were represented by Nichols Kaster, PLLP. Fastenal has denied the allegations but said it settled "in order to avoid significant legal fees, the uncertainty of a jury trial, distractions to Fastenal's operations, and other expenses and management time that would have to be devoted to protracted litigation."
Winona, Minnesota
Winona is a city in and the county seat of Winona County, in the U.S. State of Minnesota. Located in picturesque bluff country on the Mississippi River, its most noticeable physical landmark is Sugar Loaf....
. Selling industrial and construction supplies and services including inventory management services, Fastenal refers to itself as an industrial supply company, but Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
calls it an industrial distributor.
History
Founded in 1967 by Bob Kierlin, who later became a Minnesota State Senator, it was incorporatedIncorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...
the next year.
Fastenal's offerings are purchased, not made. But as of 2009, the company has at least one cold heading
Heading (metalworking)
Heading is a metalworking process which incorporates the forging, extruding and upsetting process. It is often performed in the cold state, resulting in cold working...
manufacturing line.
By 2004, 50% of product by weight was processed steel.
Retail outlets
The company places much emphasis on its series of over 2,500 retail stores in North America and MexicoMexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
.
Client companies and selling stratagems
Companies that purchase from Fastenal are either large or small, but most overseas customers may be comparatively mid-sized.The company sells both retail and wholesale.
Manufacturers and government agencies buy from Fastenal.
US Government contracts
Fastenal has been contracted by the US Government on a number of occasions.Commodity cycle costs
In 2004, increasing material costs were passed on to end users by the company.In 2007, Fastenal claimed that at least 20% sales and profit growth and ROI
Return on investment
Return on investment is one way of considering profits in relation to capital invested. Return on assets , return on net assets , return on capital and return on invested capital are similar measures with variations on how “investment” is defined.Marketing not only influences net profits but also...
were achievable during a normal economic cycle.
Customers sometimes ask for lower prices due to externalities.
Holo-Krome asset acquisition
In 2009, Fastenal acquired parts of Holo-Krome, a US socket head screw-making company.S&P 500 constituent
Fastenal and Salesforce.comSalesforce.com
Salesforce.com is an enterprise cloud computing company headquartered in San Francisco that distributes business software on a subscription basis. Salesforce.com hosts the applications off-site...
were added to the S&P 500
S&P 500
The S&P 500 is a free-float capitalization-weighted index published since 1957 of the prices of 500 large-cap common stocks actively traded in the United States. The stocks included in the S&P 500 are those of large publicly held companies that trade on either of the two largest American stock...
index in late 2008, replacing removed corporations.
Products and services
Fastenal's main inventory is fastenerFastener
A fastener is a hardware device that mechanically joins or affixes two or more objects together.Fasteners can also be used to close a container such as a bag, a box, or an envelope; or they may involve keeping together the sides of an opening of flexible material, attaching a lid to a container,...
s such as screw
Screw
A screw, or bolt, is a type of fastener characterized by a helical ridge, known as an external thread or just thread, wrapped around a cylinder. Some screw threads are designed to mate with a complementary thread, known as an internal thread, often in the form of a nut or an object that has the...
s, threaded rod
Threaded rod
A threaded rod, also known as a stud, is a relatively long rod that is threaded on both ends; the thread may extend along the complete length of the rod. They are designed to be used in tension...
s, and nuts
Nut (hardware)
A nut is a type of hardware fastener with a threaded hole. Nuts are almost always used opposite a mating bolt to fasten a stack of parts together. The two partners are kept together by a combination of their threads' friction, a slight stretch of the bolt, and compression of the parts...
, which can be used in construction and manufacturing. Other product lines do exist. The company had a total of 690,000 individual products as of 2010.
Services
The company offers a variety of services, including inventory management, small fastenerFastener
A fastener is a hardware device that mechanically joins or affixes two or more objects together.Fasteners can also be used to close a container such as a bag, a box, or an envelope; or they may involve keeping together the sides of an opening of flexible material, attaching a lid to a container,...
manufacture, and machining
Machining
Conventional machining is a form of subtractive manufacturing, in which a collection of material-working processes utilizing power-driven machine tools, such as saws, lathes, milling machines, and drill presses, are used with a sharp cutting tool to physical remove material to achieve a desired...
.
Vending machines
Part of its services line, Fastenal offers vending machineVending machine
A vending machine is a machine which dispenses items such as snacks, beverages, alcohol, cigarettes, lottery tickets, consumer products and even gold and gems to customers automatically, after the customer inserts currency or credit into the machine....
s full of needed supplies, such as MRO
Maintenance, repair, and operations
Maintenance, repair, and operations or maintenance, repair, and overhaul involves fixing any sort of mechanical or electrical device should it become out of order or broken...
wares, drill bit
Drill bit
Drill bits are cutting tools used to create cylindrical holes. Bits are held in a tool called a drill, which rotates them and provides torque and axial force to create the hole. Specialized bits are also available for non-cylindrical-shaped holes....
s, and tool bit
Tool bit
The term tool bit generally refers to a non-rotary cutting tool used in metal lathes, shapers, and planers. Such cutters are also often referred to by the set-phrase name of single-point cutting tool. The cutting edge is ground to suit a particular machining operation and may be resharpened or...
s, for placement inside smaller client company locations. Fastenal founder Bob Kierlin originated this plan. While others may offer similar services, Fastenal's vending machines are a disruptive technology
Disruptive technology
A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network, and eventually goes on to disrupt an existing market and value network , displacing an earlier technology there...
, nonetheless.
Non-US North American operations
Markets nearby, and easily penetrable, are natural expansion areas for any US-based distributor.Canada
Entering the market in 1994, as of 2009 Fastenal had retail sales outlets in every province and two Canadian distribution centers.Mexico
As of 2009, Fastenal had established retail outlets in 14 of Mexico's states as well as a distribution center. It started its Mexico activities in 2001.International operations
While most operations are in North America, the company also does business in SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, and the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
. Overseas sales operations seek larger client companies than do the small, local North American shops.
China
Different markets make for different names and Fastenal has been joined in China by Fastco. Fastenal's Asian trading company, Fastenal Asian Sourcing and Trading Co, is a wholly owned subsidiary located in ShanghaiShanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, China, where it directs sourcing and import purchasing activities. By 2007, its employees were physically auditing factories it purchased from for quality and "social compliance" (which means strong commitment to capitalism). Established in 2003, as of 2007, its activities included quality control
Quality control
Quality control, or QC for short, is a process by which entities review the quality of all factors involved in production. This approach places an emphasis on three aspects:...
. By 2008, it was also conducting sales operations.
Singapore
Opening in 2001, Fastenal's Singapore location was its first site outside North America. By 2009, sales operations in this small city state were complemented by those in its larger neighbor, Malaysia.Malaysia
Operation begins in 2009, as Fastenal Malaysia with hub status (8hub) and Fastenal Manufacturing (first manufacturing facility outside the US), both located at Johor's newest township, Nusajaya. To date 4 other branches in Malaysia have been opened, namely Shah Alam, Penang, Ipoh and Klang. There will be more new branches, thanks to overwhelming support from local industries.Sponsorships
Fastenal has sponsored a number of NASCARNASCAR
The National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...
events and drivers, most prominently Carl Edwards
Carl Edwards
Carl Michael Edwards, II is a NASCAR driver. He currently drives the #99 Fastenal/Aflac Ford Fusion in the Sprint Cup Series and the #60 Ford in the Nationwide Series for Roush Fenway Racing...
.
As of 2011, the company continues to sponsor NASCAR events.
GP2 Series
In 2011, Fastenal featured Esteban GutierrezEsteban Gutiérrez
Esteban Manuel Gutiérrez Gutiérrez is a Mexican race car driver. He is the reigning GP3 Champion, having won the title in the series' inaugural 2010 season...
as its sponsored GP2 Series
GP2 Series
The GP2 Series, GP2 for short, is a form of open wheel motor racing introduced in 2005 following the discontinuation of the long-term Formula One feeder series, Formula 3000. The format was conceived by Bernie Ecclestone and Flavio Briatore, while Ecclestone also has the rights to the name GP1...
driver, showing solidarity with Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
where it has operations.
NASCAR Craftsman Truck Series
In 2006 and 2007, Fastenal Racing sponsored the No. 18 Dodge and Bobby Hamilton Racing
Bobby Hamilton Racing
Bobby Hamilton Racing-Virginia was a former NASCAR racing team. It was owned by four-time NEXTEL Cup winner and 2004 NASCAR Craftsman Truck Series champion Bobby Hamilton until his death on January 7, 2007. Bobby Hamilton, Jr. was given ownership after the death of his father, but the younger...
in the NASCAR Craftsman Truck Series. 2006 saw Bobby Hamilton Sr. and Bobby Hamilton Jr. participate, and in 2007 driver Kenny Schrader took the front seat.
As of 2006, Fastenal customers were likely to watch this event. A television commercial for the company was also produced this year.
NASCAR Nationwide Series
"NNS" is a saloon car racing event popular in the Southern United States.
2008 series
Fastenal sponsored the Chip Ganassi Racing
Chip Ganassi Racing
Chip Ganassi Racing with Felix Sabates is an automotive racing organization with teams competing in the IZOD IndyCar Series and the Rolex Sports Car Series. It is owned by businessmen Chip Ganassi and Felix Sabates. They have won 4 Champ Car, 3 Indy Racing League and 1 Grand-Am championships...
entry, the No. 40 Dodge with Felix Sabates
Felix Sabates
Felix Sabates is an entrepreneur and philanthropist living in the United States. He is currently a minority shareholder in Chip Ganassi Racing, which fields teams in the NASCAR Sprint Cup Series , GRAND-AM Rolex Sports Car Series and the IZOD IndyCar Series...
and lead driver Dario Franchitti
Dario Franchitti
George Dario Marino Franchitti is a Scottish racing driver. He formerly competed in the CART series before switching to the IndyCar Series where he was 2007 champion, and won the rain-shortened 2007 Indianapolis 500. Franchitti is also a former NASCAR driver for Chip Ganassi Racing, competing...
, in the 2008 NASCAR Nationwide Series
2008 NASCAR Nationwide Series
The 2008 NASCAR Nationwide Series began on February 16, 2008, at Daytona International Speedway with the Camping World 300, and ended on November 15, 2008, at Homestead-Miami Speedway with the Ford 300. This was the first season in which NASCAR's second-tier series was known as the Nationwide...
.
2009 series
In 2009, Fastenal Racing began a partnership with JR Motorsports
JR Motorsports
JR Motorsports is a NASCAR team based in Mooresville, North Carolina, co-owned by NASCAR Sprint Cup driver Dale Earnhardt, Jr., his sister Kelley Earnhardt Miller, cousin and former crew chief Tony Eury, Jr., and the owner of his Cup ride Rick Hendrick. It currently fields the No...
. Dale Earnhardt Jr, Scott Wimmer, Ryan Newman, and Ron Fellows were seated in the No. 5 "Fastenal Chevrolet" for 14 out of 21 2009 NASCAR Nationwide Series
2009 NASCAR Nationwide Series
The 2009 NASCAR Nationwide Series began on February 14, 2009 at Daytona International Speedway with the Camping World 300. The season concluded on November 21, 2009 at Homestead-Miami Speedway with the Ford 300. With 25 top-five finishes, Kyle Busch was the season champion...
races.
2010 series
For the 2010 NASCAR Nationwide Series
2010 NASCAR Nationwide Series
The 2010 NASCAR Nationwide Series season was the twenty-ninth season of semi-professional stock car racing in the United States. Beginning at Daytona International Speedway, the season included thirty-five races, which ended with the Ford 300 at Homestead Miami Speedway...
Fastenal Racing began its storied partnership with Roush Fenway Racing and Carl Edwards
Carl Edwards
Carl Michael Edwards, II is a NASCAR driver. He currently drives the #99 Fastenal/Aflac Ford Fusion in the Sprint Cup Series and the #60 Ford in the Nationwide Series for Roush Fenway Racing...
. He was seated in the No. 60 car, and Fastenal sponsored 15 out of 21 races.
2011 series
Carl Edwards
Carl Edwards
Carl Michael Edwards, II is a NASCAR driver. He currently drives the #99 Fastenal/Aflac Ford Fusion in the Sprint Cup Series and the #60 Ford in the Nationwide Series for Roush Fenway Racing...
remains in the No. 60 Ford for the 2011 NASCAR Nationwide Series
2011 NASCAR Nationwide Series
The 2011 NASCAR Nationwide Series season was the thirtieth season of semi-professional stock car racing in the United States. The season included thirty-four races, beginning with the DRIVE4COPD 300 at Daytona International Speedway and ending with the Ford 300 at Homestead-Miami Speedway...
, and Fastenal will sponsor 15 out of 21 races.
2012 series
Starting in 2012, Fastenal will be the primary sponsor for Carl Edwards in the NASCAR Sprint Cup Series Sponsoring him in 17 events including the 2012 Daytona 500.Facilities
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, 14 Mexican
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
states, and Puerto Rico
Puerto Rico
Puerto Rico , officially the Commonwealth of Puerto Rico , is an unincorporated territory of the United States, located in the northeastern Caribbean, east of the Dominican Republic and west of both the United States Virgin Islands and the British Virgin Islands.Puerto Rico comprises an...
, and Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
.
The company operates 16 distribution centers in California, Georgia, Indiana, Kansas, Minnesota, North Carolina, Ohio, Pennsylvania, Utah, and Washington, in the cities of Denton, Texas, and Houston, Texas, in the Canadian provinces of Alberta and Ontario, in the state of Nuevo León
Nuevo León
Nuevo León It is located in Northeastern Mexico. It is bordered by the states of Tamaulipas to the north and east, San Luis Potosí to the south, and Coahuila to the west. To the north, Nuevo León has a 15 kilometer stretch of the U.S.-Mexico border adjacent to the U.S...
, Mexico, and in the Malaysian city Nusajaya.
As of 2007, Fastenal operates its own freight fleet in order to reduce highway transport costs.
The location of the first Fastenal site, Winona, Minnesota
Winona, Minnesota
Winona is a city in and the county seat of Winona County, in the U.S. State of Minnesota. Located in picturesque bluff country on the Mississippi River, its most noticeable physical landmark is Sugar Loaf....
, has now become that of the company's headquarters. By 2005, a central collections office had been established in Caledonia, Minnesota, 40 miles (64.4 km) south of Winona.
Machining
Machining
Conventional machining is a form of subtractive manufacturing, in which a collection of material-working processes utilizing power-driven machine tools, such as saws, lathes, milling machines, and drill presses, are used with a sharp cutting tool to physical remove material to achieve a desired...
is a better term for many of Fastenal "manufacturing" operations. As of 2000, the company employs 400+ people at "six" manufacturing locations, including one manufacturing bolts made the new-fangled way, cold heading, in Rockford, Illinois, an operation in West Hartford, Connecticut, and another in Malaysia, etc. These sites are probably joined by others in Indianapolis and in Modesto.
Fastenal has sites in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Dominican Republic
Dominican Republic
The Dominican Republic is a nation on the island of La Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are shared by two countries...
, Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
, Malaysia, the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
,Germany, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
In 2006, the company had two offices in Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
, one of which included a product testing laboratory, which, as of 2007, was A2LA certified.
Controversies and criticism
The company has settled lawsuits, and its corporate culture may lead some employees to criticize.Government contract debacle
In 2010, the company paid a settlement to prevent litigation resulting from a 2005 cessation of a United States General Services Administration contract.Employee class-action controversy
In 2008, Fastenal paid a $10 million settlement to a class-action lawsuit. The company was alleged to have failed to pay overtime to some employees. Filed by former Fastenal Assistant General Managers who accused the company of misclassifying them as exempt from the federal Fair Labor Standards Act and corresponding state wage and hour laws in CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, and Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
, these plaintiffs were represented by Nichols Kaster, PLLP. Fastenal has denied the allegations but said it settled "in order to avoid significant legal fees, the uncertainty of a jury trial, distractions to Fastenal's operations, and other expenses and management time that would have to be devoted to protracted litigation."