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2010 MDM Market Leaders: Top Industrial Distributors No. 9

Fastenal

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Headquarters: Winona, MN
2009 Revenues: $1.809 billion
Change in Sales from 2008: -17.5%
Employees: 12,045
Locations: 2,369
New Locations in 2009: 69
Closed Locations in 2009: 10
Key Executives: President and CEO Willard Oberton; CFO Daniel Florness
Acquisitions: Holo-Krome

Fastenal opened 29 new stores in the first quarter of 2010. The distributor, which has traditionally grown organically through new store openings, acquired Holo-Krome in 2009, a manufacturer of domestic socket head screw products, adding 92 employees to Fastenal. In Fastenal's earnings call for the fourth quarter 2009, CEO Will Oberton said: "When we look at the business, what do we need to work on? We need to work on margin. We need to continue to work hard on growth, and we need to make sure the other things that I just mentioned stay inline. I think we are in a very good position to move forward as a company." One challenge for the distributor is tracking steel prices. "We're watching steel very closely trying to determine how much we should be buying and how long we think this will continue to go up. Right now it appears that it probably will for awhile," Oberton said.

No. 10: Wilson Industries

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