PPG back in IndyCar

UPDATE Motor racing team Penske Racing has announced that PPG Industries will serve as the primary sponsor on Ryan Briscoe’s car in two upcoming IndyCar Series races. Recall that PPG was the CART Series title sponsor for many years as CART (CART PPG IndyCar World Series), with the help of PPG, grew the sport of IndyCar Racing to record heights. That was all destroyed when the IRL was created. The total annual series sponsorship in 1996 under CART was $650 million and plummeted to $34 million last year under the IRL and Anton George – his legacy for splitting the sport and destroying it.

According to an official press release, 'the car will prominently feature the PPG Automotive Refinish logo on its right and left side pods and the PPG corporate logo on its nose and rear wing' at the Iowa Corn Indy 250 on 25th June and the Honda Indy Toronto on 10th July.

Although financial details of the agreement were not released, typically primary sponsorship of an IndyCar entry is worth between US$250,000 to US$350,000 per race.

“We are extremely proud to be associated with Penske Racing," said Bill Shaw, PPG director of business development, automotive refinish. “The team’s performance on the track and Penske Corporation’s business achievements are simply remarkable. For more than three decades, we have provided Penske with innovative products and solid support. Our commitment to working together is unwavering, and we take great pride in Penske’s success."

Bud Denker, Penske Corp senior vice president, added, “There’s no question that PPG’s quality products and services have been instrumental in our business activities. They help us every day in our racing operations and our automotive and truck enterprises. We have greatly benefited from this partnership."

06/24/11 PPG Industries’ (NYSE: PPG) automotive refinish business will be the lead sponsor of Team Penske’s No. 6 car in two upcoming IZOD IndyCar Series races.

The vehicle will be driven by Ryan Briscoe in the Iowa Corn Indy 250 and the Honda Indy Toronto events scheduled respectively for June 25 in Newton, Iowa, and July 10 in Toronto. The car will prominently feature the PPG Automotive Refinish logo on its right and left side pods and the PPG corporate logo on its nose and rear wing.

Team Penske is part of Penske Racing. PPG has had a business relationship with Penske Racing and its parent, Penske Corp., for 32 years. The partnership dates back to PPG’s participation in auto racing and its sponsorship of the PPG Cup from 1979 to 1999.

Today, PPG Automotive Refinish is Penske Corp.’s exclusive supplier of coatings for its racing, truck leasing, and automotive collision repair subsidiaries and facilities. Team Penske races three cars in the IZOD IndyCar Series, all of which are painted with DELTRONÂ® products by PPG. Also, Penske Racing’s NASCAR entries use ENVIROBASEÂ® High Performance waterborne coatings by PPG.

Bud Denker, Penske Corp. senior vice president, said, “There’s no question that PPG’s quality products and services have been instrumental in our business activities. They help us every day in our racing operations and our automotive and truck enterprises. We have greatly benefited from this partnership."

This is IndyCar driver Ryan Briscoe’s fourth year with Penske Racing. A versatile and experienced driver, he has also raced Australian V8 Supercars, Grand-Am Series and American Le Mans Series sports car prototypes, Champ Cars, stock cars, and A1GP and Formula One open-wheel machines. In his previous three seasons with Team Penske, Briscoe has led laps, earned poles, and won six races for the most successful team in the history of North American open-wheel racing.