Sales: $408 million
Sales: $408 million.
Key Personnel: Garry Ridge, president and chief executive officer; Steve Brass, division president, Americas, chief brand officer; Rich Clampitt, vice president, general counsel and corporate secretary; Mike Freeman, chief strategy officer; Geoff Holdsworth, managing director, Asia-Pacific; Bill Noble managing director, EMEA; Jay Rembolt, vice president, finance, treasurer and chief financial officer; Stan Sewitch, vice president, global organization development.
Major Products: Maintenance products as well as cleaning products including WD-40, X-14, 2000 Flushes, Carpet Fresh, No Vac, Spot Shot, Lava and Solvol.
New Products: WD-40 EZ Reach.
Comments: It can be found in 4 out of 5 American households, yet the ingredients in the household staple are known only to a handful of people across the globe—that’s why WD-40 Company pulled out all the stops on Sept. 12, 2018 enlisting the help of an armored vehicle and top-notch security, to move its secret formula to a secure bank vault.
Starting at the WD-40 Company headquarters in San Diego, WD-40 president and CEO Garry Ridge entrusted Brink’s to transport him handcuffed to a briefcase carrying the secret formula. The formula—which reportedly hasn’t been touched by human hands in more than 15 years—is the company’s prized possession. The inonic blue and yellow cans are sold in 176 countries and territories worldwide.
And while the “secret sauce” has had the same basic ingredients since the company’s inception 65 years ago, WD-40 is anything but static.
“WD-40 Company was founded in 1953 as Rocket Chemical Company by three technicians looking for a rust- preventive solvent to protect missiles from corrosion and has grown well beyond the beloved multi-use formula,” said Ridge. “We’re constantly looking for ways to make it better than it is today, delivering unique, high value and easy-to-use solutions for a variety of maintenance needs. This has included not only new ways to apply our multi- use product, like our WD-40 EZ Reach, which includes a bendable straw to get into hard-to-reach places, but also new product lines for DIYers and trade professionals alike.”
“While our products and the secret formula are fundamental to our success, so too are our people,” said Ridge. “We exist to create positive lasting memories in everything we do, and we couldn’t do that without our nearly 500 tribe members across the globe who are dedicated to living our values, solving problems and making things work smoothly in workshops, factories and homes.”
Home care and cleaning product sales rose 7% to slightly more than $408 million for the fiscal year of 2018. Company growth for 2019 is projected to be between 4 and 7% with total net sales expected to be between $425 million and $437 million.