Liquid and powder coatings manufacturer Axalta Coating Systems has agreed a new partnership with North American stock car-racing series Nascar.
The multi-year deal will see Axalta become the official paint partner of Nascar. Axalta joins the Nascar Fuel for Business Council, an exclusive group which brings together more than 50 official series partners to buy and sell products and services from one another.
Charles Shaver, chairman and chief executive of Axalta, said: “Our affiliation with Nascar runs deep. We were the official finish for nearly 20 years before taking some time to strategically develop our program.
“With this new agreement, we can grow our reach and leverage partnerships throughout the sport for business development opportunities with likeminded companies who need or use coatings. Motorsports represents all the things we see in ourselves; teamwork, high performance, a drive to be better, and winning.”
Axalta is also a founding partner of Daytona International Speedway’s motorsports stadium, and a primary sponsor of Nascar team Hendrick Motorsports.
Axalta agreed its new deal with Nascar ahead of yesterday’s (Sunday’s) showpiece Daytona 500 event.
Daryl Wolfe, chief sales and partnership officer for Nascar and International Speedway Corporation, said: “This new agreement is largely in place due to the strong return on investment Axalta receives in the sport. This partnership will further complement that integrated approach and drive business for years to come.”