IRL: PPG ends IMS sponsorship

PITTSBURGH--(BUSINESS WIRE)--Jan. 26, 2001--PPG Industries has declined to renew its sponsorship contracts with Indianapolis Motor Speedway for the 2001 season. PPG has sponsored pole and contingency awards for the Indianapolis 500 race, as well...

PITTSBURGH--(BUSINESS WIRE)--Jan. 26, 2001--PPG Industries has declined to renew its sponsorship contracts with Indianapolis Motor Speedway for the 2001 season.

PPG has sponsored pole and contingency awards for the Indianapolis 500 race, as well as the winner's trophy for the speedway's Brickyard 400 stock car race.

The decision to discontinue Indianapolis Motor Speedway participation was driven by changing business objectives and customer requirements, according to Richard Zahren, vice president of automotive coatings.

"PPG management concluded that in today's challenging business environment, our greatest priorities are focused on product and service requirements of our customers, and assuring our resources are directed to those priorities," he said. "Our racing programs certainly met their objectives, and we are proud of our part of the exciting tradition of Indianapolis Motor Speedway since the mid-1970s," Zahren added. "But circumstances and objectives change, as does PPG's business portfolio. We have significantly greater involvement today in aerospace, industrial and packaging coatings in addition to automotive coatings and glass. The combination of changing objectives and customer needs require redirection of resources."

Pittsburgh-based PPG is a leading producer of coatings, flat and fabricated glass, fiber glass and chemicals, with manufacturing operations in 23 countries. Its 2000 sales were $8.4 billion.

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Series Automotive , IndyCar , NASCAR Cup