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Castrol launches landmark joint venture with leading US manufacturing consultancy(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 17 October 2014 Release date- 16102014 - Leading global lubricants manufacturer, Castrol, has announced today that it has entered into a new joint venture with TechSolve, a specialized US-based manufacturing consultancy. An initiative of Castrol's strategic innovation arm, Castrol innoVentures, the 50:50 joint venture is the first agreement of its kind between a lubricant manufacturer and a machining process improvement company. The new entity, OPTIS, will develop technology and services to enable manufacturers of machined parts to improve efficiency in their operations and across the supply chain. OPTIS combines Castrol's technical, sales and marketing expertise and global OEM partnerships with TechSolve's machining and process improvement knowledge, gained through working with a range of companies, including major global OEMs. OPTIS will benefit from Castrol's global network, customer footprint covering 86 countries and a 100-year track record of producing high-performance lubricants. This means OPTIS can provide strategic advice, technology, data analytics and practical solutions that enable a competitive advantage. OPTIS will focus on four key industry sectors: automotive, aerospace, construction equipment and machinery manufacture. Marci Brand, Vice-President of Castrol Industrial, Marine and Energy, said: 'The launch of OPTIS marks the start of a new era of opportunity in manufacturing. By taking a more rounded view of machining processes, OPTIS has the capability to help customers identify new areas to achieve greater productivity and profitability - ultimately supporting their long term growth.' Roy Williamson, Director of Castrol innoVentures, said: 'The effective application of advanced lubricants is important to efficient operations, but bringing in new technology can increase performance improvement even further. TechSolve is one of the few businesses of its kind to offer productivity improvement analytics and expertise for manufacturers. By combining our expertise, capabilities and networks with our shared passion for pushing the boundaries of innovation, we have created an offer that brings new thinking to a changing market.' OPTIS' board of directors will consist of Castrol and TechSolve representatives. Jon Iverson, TechSolve's former Vice President, Machining Technology and Defense Services, has been appointed CEO of OPTIS and brings more than 20 years' experience in machining, manufacturing and defense services to the role. Jon Iverson, CEO, OPTIS said: 'We believe that there is a need right now for OPTIS' services, due to the competitive and challenging environments in which manufacturers are operating. Companies are under pressure to increase profitability, yet have little time or resource to focus on opportunities for growth. Our independent and objective perspective can identify ways to increase efficiency and reduce costs that might be otherwise overlooked.' The company will be headquartered at TechSolve's current offices in Ohio, USA, supported by a fully instrumented multi-million-dollar machining laboratory, as well as dedicated sales and marketing resources from Castrol. About Castrol Castrol is one of the world's leading manufacturers and marketers of premium lubricating oils, greases, metal working fluids, control fluids and related services to automotive, manufacturing, mining, marine, and oil exploration and production customers across the world. Castrol couples high quality lubricant engineering with an expert technical support network and supply capability to deliver quality solutions wherever customers need them. Castrol employs over 7,500 people it operates directly in more than 80 countries, and is represented by over 2,000 third party distributors. Part of the BP group, the company is headquartered in the UK. At the forefront of pioneering technology with its 13 R&D centres globally, Castrol invests every year in research and development of lubricants. Castrol's global teams of specialists have a deep understanding of what customers need and advise on solutions designed to optimize performance and help improve quality, productivity and the environmental, health and safety profiles of their customers. The brand represents over 100 years' experience in 'liquid engineering': producing advanced lubricants for a wide range of applications, from manufacturing processes and metalworking to mining, shipping and marine activities and energy production. Castrol's products and services play a critical role in lubricating the global economy through what is mined, made and moved around the world. About Castrol innoVentures Castrol innoVentures is based in the UK with a global remit. It seeks out and invests in new business opportunities to support Castrol's core lubricants business and to develop options beyond lubricants. The Castrol innoVentures group is focused on investing in and building businesses that significantly improve customer growth and competitiveness in manufacturing, among other sectors. The group makes strategic investments in technology start-ups that help its customers improve operations. About TechSolve For more than 30 years, Ohio-based TechSolve has helped organizations of all sizes and across various industries, grow and thrive. With a focus on process improvement, machining, and innovation, we help businesses find long-term solutions and cultivate problem-solving cultures. With best practices at the core of everything we do, we provide tailored solutions that eliminate wasteful spending, increase productivity, and maximize profits. TechSolve has a team of experts that come from many disciplines and industries. We know the industries we serve and every client we work with. This gives us the ability to help organizations identify opportunities, execute solutions, and achieve goals. Our continuous improvement services focus on improving processes, while cultivating a problem-solving culture. Our advanced machining experts deliver customized solutions, while our onsite Machining Laboratory allows us to develop these solutions without disrupting production. We also help manufacturers embrace strategic planning and innovation, giving them tools for long term growth and profits. More information is available at www.TechSolve.org Contact: Clare-Marie Dobing BLUE Communications Tel: + 44 (0)1865 514 214 Mobile: + 44 (0) 7889 812 090 Email: [email protected] (c) 2014 Electronic News Publishing - |