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2011 MDM Market Leaders: Top Industrial Distributors No. 7

$\"fastenal$

Headquarters: Winona, MN
2010 Revenues: $2.26 billion
Change in sales from 2009: 17.57%
Employees: 13,285
Locations: 2,490
Key Executives:President & CEO Will Oberton; CFO Daniel Florness; EVP Sales Nicholas Lundquist, Leland Hein & Steven Rucinski; EVP Operations James Jansen; EVP Product & Procurement Michael Camp; EVP IT Ashok Singh
Number of new locations (not as a result of acquisition):127

Fastenal has seen broad growth over the past year, and its 2010 international sales grew 30 percent. The distributor has increased its attention on vending over the past couple of years. Its vending program, Fastenal Automated Supply Technology (FAST), took off in 2010, according to the distributor. \”The program was designed to be extremely cost-effective for customers, in turn creating new opportunities for our stores,\” President and CEO Will Oberton said in the distributor’s annual report. \”And in fact we’re now seeing exceptional growth at customer sites where FAST 5000 machines are placed. In my opinion, this will be a big part of the future of industrial supply, and it will become an increasingly important part of our business in 2011 and beyond.\”

No. 8: Wilson/CE Franklin

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