Multi-Year Relationship to Enhance Production Technologies
MOORESVILLE, N.C. (January 29, 2018) – Team Penske and Tungaloy have announced an extension of their partnership for 2018 and beyond. As part of the multi-year agreement, Tungaloy, one of the world’s leading manufacturers of carbide cutting tools, friction materials, wear resistant items and civil engineering products, will continue as a team sponsor while also providing production technology assistance.
Tungaloy has a long history of excellence in the development of materials for metal cutting tools and innovative industrial products. The diverse range of products, including indexable inserts and steel products, are all based upon Tungaloy’s expertise in powder metallurgy. Tungaloy provides customers with products that serve as industry benchmarks which improve customer’s productivity and cycle time to help reduce overall costs and increase profitability.
“As one of the world’s leading production technology companies, Tungaloy provides an insightful approach that helps enhance Team Penske’s performance level,” said Roger Penske. “It takes premier partners to help Team Penske win at the highest levels of racing. We are excited to have Tungaloy back with our team this season and into the future.”
Under the new extension agreement, Tungaloy will look to maximize its marketing opportunities through increased branding rights and enhanced event access provided by Team Penske. Tungaloy will also increase its precision tooling equipment and technical expertise to further enhance the partnership between the two organizations.
“Tungaloy is looking forward to building on our partnership with Team Penske,” said Russell Flood, Tungaloy President. “The organization ranks among the best and the most successful race teams in the world, in any form of motorsports. Team Penske also shares our core values and they know what it takes to be the best.”
Tungaloy America and Team Penske have recognized the mutual value their relationship has provided and will move into the 2018 season with even greater commitments to improving each other’s business and continue to raise the level of performance of Team Penske’s racing programs.
About Tungaloy
Tungaloy is one of the world’s leading manufacturers of carbide cutting tools, friction materials, wear resistant items and civil engineering products. Headquartered in Japan, Tungaloy provides our products to customers all over the world in automobile, construction, aerospace, medical, power generation, infrastructure and heavy industries. Continuous improvement of production technologies, combined with large investments in research and development, allows Tungaloy to offer high-quality products that help manufacturing companies in a wide variety of industries increase their productivity. For more on Tungaloy, please visit http://www.tungaloyamerica.com/
About Team Penske
Team Penske is one of the most successful teams in the history of professional sports. Cars owned and prepared by Team Penske have produced more than 470 major race wins, over 540 pole positions and 32 Championships across open-wheel, stock car and sports car racing competition. Over the course of its 52-year history, the team has also earned 16 Indianapolis 500 victories, two Daytona 500 Championships, a Formula 1 win and overall victories in the 24 Hours of Daytona and the 12 Hours of Sebring. For 2018, Team Penske will compete in the Verizon IndyCar Series, the Monster Energy NASCAR Cup Series, the NASCAR XFINITY Series and the IMSA WeatherTech SportsCar Championship. The team also races in the Virgin Australia Supercars Championship, in a partnership with Dick Johnson Racing, as DJR Team Penske. For more information about Team Penske, please visit www.teampenske.com.
