Explore our global brands.

Press Release Details

View all Press Releases

WD-40 Company Files 8-K Relating to Agreement With Holdsworth for China Assignment


SAN DIEGO, Aug. 9 /PRNewswire-FirstCall/ -- WD-40 Company (Nasdaq: WDFC) is filing a report on Form 8-K to report that the Company has entered into an agreement with Geoffrey J. Holdsworth, the Company's Managing Director, Asia/Pacific, to provide for Mr. Holdsworth's assignment to Shanghai, China. The agreement provides for compensation and benefits for Mr. Holdsworth while on assignment to China from his current residence in Sydney, Australia.

Mr. Holdsworth will manage a wholly owned foreign enterprise (WOFE) for the Company in China. This subsidiary, referred to as WD-40 Company, China, will commence sales activities in February 2007, distributing WD-40 Company products to the China market as the Company shifts from a distributor market to a direct sales business model.

Much of the Company's growth in Europe over the past years has come from the opening of direct operations in European countries. This is the first direct market to be opened for the Company in Asia. It is expected that approximately 35 employees will be added to support WD-40 Company, China business operations.

WD-40 Company, with headquarters in San Diego, is a global consumer products company dedicated to building brand equities that are first or second choice in their respective categories. The company will leverage and build the brand fortress of WD-40 Company by developing and acquiring brands that deliver a unique high value to end users and that can be distributed across multiple trade channels in one or more areas of the world. WD-40 Company produces multi-purpose lubricants, WD-40(R), and 3-IN-ONE(R), the Lava(R) and Solvol(R) brands of heavy-duty hand cleaners, and household products 2000 Flushes(R), X-14(R), Carpet Fresh(R), Spot Shot(R) and 1001(R). WD-40 Company markets its products in more than 160 countries worldwide and recorded sales of $263.2 million in fiscal 2005. Additional information about WD-40 Company can be obtained online at www.wd40.com.

SOURCE  WD-40 Company
    -0-                             08/09/2006
    /CONTACT:  Garry O. Ridge of WD-40 Company, +1-619-275-9324/
    /Web site:  http://www.wd40.com /

CO:  WD-40 Company
ST:  California

-- LAW109 --
6667 08/09/2006 16:15 EDT http://www.prnewswire.com

Connect With Us

WD-40 Company Value
We value succeeding as a tribe while excelling as individuals.