A solvent containing, wax base, cutback corrosion preventive compound for outside storage or overseas transports of machine tools and parts. Forms a nearly dry film which is firm, amber, translucent and non-tacky. It combines the basic requirements of good atomization, adhesion, and protection to insure that weld seams, joint and metal surfaces are protected. This pliable firm coating has a polar attraction to metal surfaces. The coating has a dielectric strength of 2000 to 3000 V and therefore protects electrical connections and prevents galvanic corrosion. It provides outstanding protection in corrosive environments.