WD-40 Company

WD-40 Company
Public
Traded as NASDAQ: WDFC
S&P 600 Component
Industry Chemical
Founded September 23, 1953 (1953-09-23)
(as Rocket Chemical Company)
Headquarters San Diego, California, United States
Key people
 Garry Ridge (CEO)
Products WD-40, 3-In-One Oil, Lava, Spot Shot, X-14, Carpet Fresh, and 2000 Flushes
Website www.wd40.com

WD-40 Company is a San Diego, California-based manufacturer of household chemicals, including its signature lubricant, WD-40, as well as 3-In-One Oil, Lava, Spot Shot, X-14, Carpet Fresh, and 2000 Flushes.[1] In 2003, it was reported that it marketed its products in more than 160 countries.[2]

History

Rocket Chemical Company was founded in 1953 by Cyril E. Irving, Norman Roulette and his Robert Roulette, and Iver Norman Lawson.[3] The company had offices in Chula Vista and National City before moving to Kearny Villa Road in Kearny Mesa in 1955.[3] Sam Crivello, who owned a tuna seiner, a major industry in San Diego at that time, was an early investor[3] and became a director in 1958.[4] Norman B. Larsen was president of Rocket in 1957 and 1958, and he had the idea of packaging WD-40 in aerosol cans and selling it into the consumer market.[3] Larsen left the company in 1958 after a verbal agreement between Rocket and a distributor fell apart; the distributor set up CRC Industries to directly compete with Rocket and Larsen left to lead it.[5] Cy Irving took over as president in 1958 and retired in 1969.[3]

In 1969, John S. Barry, on becoming President and CEO, changed the name to WD-40 Company after what was then its only product. Barry, who died July 3, 2009, reportedly made the name change on the basis that the Rocket Chemical Company did not make rockets.[6][7] The company went public in 1973.[3] Its NASDAQ stock symbol is (NASDAQ: WDFC).

Gerald C. Schleif became president in 1990 and CEO in 1992; he had joined the company in 1969.[8] Schlief led the company until 1997, when he retired and Garry O. Ridge took over.[3]

Products

In addition to its flagship WD-40 product, the WD-40 Company has acquired several household-products companies, adding such brand names as 3-In-One Oil, Lava, Spot Shot, X-14, Carpet Fresh, and 2000 Flushes to its roster.

References

  1. ↑ Killion, Andy (April 9, 2007). "Revenue, Net Income Both Rise at WD-40". San Diego Business Journal. Archived from the original on September 27, 2007. Retrieved April 13, 2007.
  2. ↑ "WD-40 squeaks into 50th anniversary". enquirer.com. 2003-08-27. Retrieved 2016-02-08.
  3. 1 2 3 4 5 6 7 Engstrand, Iris H.W. (Fall 2014). "WD-40: San Diego’s Marketing Miracle" (PDF). The Journal of San Diego History. 60 (4): 253–270.
  4. ↑ "WD-40 Co." San Diego Business Journal 25 Jan. 1988: 21.
  5. ↑ "The CRC Story" (PDF). CRC Industries. Archived from the original (PDF) on 4 May 2006.
  6. ↑ Martin, Douglas. "John S. Barry, Main Force Behind WD-40, Dies at 84". The New York Times, July 22, 2009.
  7. ↑ John Barry dies at 84; former executive made WD-40 a household name LA Times Obituary
  8. ↑ "WD 40 10-K For the Fiscal Year Ended August 31, 1995". WD-40 Company via SEC Edgar. 13 November 1995.
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