"We are always excited to welcome new partners from a business perspective, and it’s even better when that new partner is capable of enhancing our competitive edge," said Team Penske President Tim Cindric. “Tungaloy America is an industry leader and we are looking forward to utilizing their products and services to impact our future success."
The technical alliance between the two entities will allow Tungaloy America to feature and showcase Team Penske NASCAR and INDYCAR components for case studies, demonstrations and trade shows in the future.
"Partnerships and collaborations have been integral to Tungaloy’s growth. The strategic partnership between Tungaloy and Penske is very exciting as we strive to align ourselves with the best," said Tungaloy America President, Russell Flood. “Our innovative technologies are certain to accelerate Team Penske’s processes, both in the machine shop and at the race track."
Tungaloy America will also have access to Team Penske manufacturing and hospitality resources as part of the new agreement.
The 2016 NASCAR season begins at Daytona International Speedway this coming weekend, with the non-points Sprint Unlimited, while the 2016 Verizon IndyCar Series season will take the green flag on March 13 on the streets of St. Petersburg, Fla.
Tungaloy is one of the world’s leading manufacturers of carbide cutting tools, friction materials, wear resistant items, and civil engineering products. Headquartered in Japan, Tungaloy provides products to customers all over the world in automobile, construction, aerospace, medical, power generation, infrastructure, and heavy industries. Continuous improvement of production technologies, combined with investments in research and development, allows Tungaloy to offer high-quality products that help manufacturing companies in a wide variety of industries increase their productivity.