PPG ends sponsorship link

The group, which supplies automotive and industrial coatings, has ended its 20 year relationship with the series citing 'changing business objectives and customer requirements'.

'We have had great success in our racing program during the past quarter-century,' said Richard Zahren, PPG's vice president of automotive coatings.

'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.

'PPG's business portfolio has changed since our CART program began, 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 prioritise all activities that commit resources. We have concluded through this process that other areas must have priority.'

CART vice-president of communications, Ron Richards, paid tribute to the company's work with the series.

'We are disappointed that PPG is ending its involvement with CART,' said Richards.

'However, we recognise that, as companies change, their needs change as well.

'PPG is a very different company today than the one that first became involved with CART nearly 20 years ago and that fact was reflected in its changing approach to its sponsorship over the past few years.

'At the same time, CART's needs have changed, and we want our marketing rights to be fully exploited to help promote the sport as much as possible. This situation provides us with the opportunity to achieve this.'