DuPont Automotive Systems to End Formula One Sponsorship

As part of a larger plan to refocus resources and strengthen the profitability of the Jaguar vehicle brand, Ford Motor Co. recently announced that it is withdrawing from its Formula One racing program at the end of 2004. As a result, DuPont Automotive Systems will also end its Jaguar Formula One Racing sponsorship at year-end.

From M2 Communications

“As a major business partner, we appreciate Ford Motor Company’s decision to refocus its resources on strengthening the financial performance of Jaguar, one of the best-known and regarded luxury and sport vehicle brands in the world,” said Marty McQuade, vice president and general manager, DuPont Automotive Systems.

“DuPont is proud to be a leading supplier of automotive coatings for Jaguar brands and other vehicle nameplates in the Ford Premiere Automotive Group of luxury vehicles,” he said.

DuPont entered into a sponsorship agreement in 2002 to become one of the Jaguar Racing Program’s “major partners.” The sponsorship has been leveraged across DuPont business units for various promotional and customer events.

_______________________________________

Click here to view the rest of today’s headlines.