Team Penske has announced that Tungaloy has extended its partnership with the USA based motorsport team 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, headquartered in Japan, has a long history in the development of materials for metal cutting tools and industrial products. The company provides products to customers all over the world in automobile, construction, aerospace, medical, power generation, infrastructure and heavy industries.
“As one of the world’s leading production technology companies, Tungaloy provides an insightful approach that helps enhance Team Penske’s performance level,” stated Roger Penske, Founder and Chairman, Penske Corporation. “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 maximise 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 organisations.
“Tungaloy is looking forward to building on our partnership with Team Penske,” said Russell Flood, Tungaloy President. “The organisation 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.”