WD-40 Company Reaches Golden Milestone With Global FanfareSAN DIEGO: WD-40(R): It's not just for squeaks anymore. That's the rallying cry behind WD-40 Company (Nasdaq: WDFC), which celebrates its 50th anniversary next week.
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The company that was started in 1953 by three technicians looking for a rust-preventive solvent and degreaser to protect NASA's Atlas missile has grown into a consumer products company that markets its products in 160 countries and recorded sales of $216 million in fiscal year 2002.
The company owes much of its notoriety to the "secret sauce," the formula of which remains locked in a vault in San Diego, but CEO Garry Ridge attributes WD-40 Company's continued success to its people, their adaptability in the marketplace, a strong acquisition strategy and the organic growth of existing brands.
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The company is celebrating its milestone anniversary with global promotions, a 50th anniversary commemorative can and Ridge opening the NASDAQ stock market Monday, Sept. 22, 2003.
For the very first time in the Company's history, the WD-40 secret formula will be taken to New York City for the public to view in a closed display case at the Nasdaq MarketSite.