Petroliam Nasional Bhd (Petronas) has inked a five-year agreement with major auto-manufacturer Mercedes, to become the title partner to the Mercedes GP team, the reigning Formula One world champions.
The team will from 2010 be officially known as the Mercedes GP PETRONAS Formula One Team.
The national oil and gas company said in a statement that the partnership would allow related business arrangements with Mercedes that would support its international business expansion efforts, particularly in the global lubricant business.
The company said the exclusive rights as the title partner and association with the premium, internationally-renowned Mercedes brand, will further enhance Petronas and Malaysia’s ongoing global brand positioning efforts.
Petronas would also be able to continue to leverage on the extensive international exposure offered by the sport to grow its existing business activities, it said.
The partnership also presents Petronas with the opportunity to utilise and leverage on Mercedes’ long motor sport heritage to further supplement its talent development initiatives, as part of the contribution towards the development of Malaysia’s motorsports industry.
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