December 1, 1999 (Pittsburgh, PA) - Changing business objectives and customer requirements have led Pittsburgh-based PPG Industries to decline renewal of its expiring sponsorship contract with Championship Auto Racing Teams (CART) for the 2000 auto ...
December 1, 1999 (Pittsburgh, PA) - Changing business objectives and customer requirements have led Pittsburgh-based PPG Industries to decline renewal of its expiring sponsorship contract with Championship Auto Racing Teams (CART) for the 2000 auto racing season.
Richard Zahren, vice president of automotive coatings, said that as PPG evaluated extension of its CART contract, representing a multi-million-dollar investment, "it became clear that we should commit these resources to initiatives that more directly and immediately meet evolving needs of customers."
"We have had great success in our racing program during the past quarter-century. We are proud of Champ Car racing's growth and PPG's contributions to that growth. But circumstances change, objectives change. Today's competitive environment demands tough decisions," he said.
"PPG's business portfolio has changed since our CART program began," he added, "expanding our presence in aerospace, industrial and packaging coatings in addition to automotive coatings."
"Every expenditure is evaluated for the value it adds as perceived by our customers. On this basis, we prioritize all activities that commit resources. We have concluded through this process that other areas must have priority."
"This was not an easy decision because we have been so successful with our CART activity," Zahren said. "Innovations our people introduced, such as the unique PPG Pace Car program, set standards for relationship-building with customers, the great people in the sport, and the public. Many of our innovations have been adopted by others, so now we're moving on to bring new innovations with greater value to an ever-widening sphere of global customers."
PPG has furnished paints since 1975 for cars competing in the Indianapolis 500. It became sponsor of the then-new CART series in 1980.
CHAMPCAR/CART: Houston Saturday Practice Results
IRL: Panther Racing Orlando Friday Morning Notes
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