The story
It was founded in 1958 after a verbal agreement between Rocket Chemical, the predecessor of the WD-40 Company, and Charles J. Webb II to distribute WD-40 fell apart. Webb then set up a competitor company in Philadelphia, Corrosion Reaction Consultants, Inc., and hired away Rocket president Norman Larsen to lead it. In 1960 it consisted of Larsen, two chemists and five staff. Its first product was CRC Corrosion Inhibitor, also called 5–56, a product comparable to WD-40. The product was reformulated in 1963 as the company diversified to make more specialized products.
The company has been owned by Berwind Corporation since 1981.
From Wikipedia’s article on CRC Industries, shared under CC BY-SA 4.0.5