McLaren press release on Reemtsma

Woking, 26th August 1996. Reemtsma and McLaren today announced that they had entered into a five year agreement providing for Reemtsma, thorugh its brand WEST, to become the title partner of the new West McLaren Mercedes Formula One team...

Woking, 26th August 1996. Reemtsma and McLaren today announced that they had entered into a five year agreement providing for Reemtsma, thorugh its brand WEST, to become the title partner of the new West McLaren Mercedes Formula One team effective 1997.

Reemtsma, headquartered in Hamburg, Germany, is one of the major companies in the manufacture, marketing and sale of tobacco products and is best known for its brands WEST and DAVIDOFF. Founded in 1910, Reemtsma markets more than 100 brands in over seventy countries worldwide.

McLaren International, one of the most successful teams in Formula One, has won nine World Driver's Championships, seven World Constructor's Championships and holds a number of world records including that for the most number of Grands Prix victories achieved by any one team in a single season.

Whilst Reemtsma currently enjoys worldwide sales of US$7 billion its strategic objective is to increase its already significant growth rate in sales, particularly in new and developing markets. As part of this strategy Reemtsma identified and has acquired the opportunity of title partnership of the McLaren Mercedes Formula One team which will be one of the key features in its future worldwide marketing strategy.

Commenting on the announcement, Luger W. Staby, Chairman of Reemtsma, said: "To achieve our goals for enhanced global growth it was essential that we aqcuire a suitably high profile opportunity commensurate with our ambitions. When we first analysed the opportunities that might be available, we never dreamed that our search would be ultimiately so successful as to acquire the title rights to one of the giants of world sport, McLaren. Their track record alone would be enough to justify our investment, but when we spoke to Ron Dennis he explained to us not just McLaren's plans to build upon their on-track success but also the innovative and dynamic market and imaging programme that they had developed. We were even more convinced and excited about the possiblities.

Mercedes-Benz have communicated to us their total commitment to the West McLaren partnership. We are confident that this partnership will see stronger growth of our brand WEST and great success for the West McLaren Mercedes team."

Ron Dennis, Managing Director of McLaren International, stated: "Earlier this year, we set some very precise commercial criteria for the long term future of McLaren. So, when Reemtsma approached me and we talked about our respective companies' ambitions and goals it became immediately apparent to both of us that we share a common vision. Aside from McLaren's clearly defined sporting objectives, we also have certain other values. Image has always been important to McLaren and we have to date enjoyed the most consistent team imagery in world class motor sport. This change to WEST, however, affords us the opportunity of implementing a more dynamic and exciting image that we believe is important for our future development and completely consistent with WEST's brand values. I am therefore delighted to be entering this exciting new era with Reemtsma - a company young in spirit and with vision for new horizons."

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Series Formula 1
Teams Mercedes , McLaren