Ineos revealed that it has teamed up with the Mercedes-AMG Petronas Formula One team through a new principal partnership.
The principal partnership is an extension to the performance partnership which was signed at the end of 2019 between Ineos and Mercedes-Benz Applied Science.
The new five-year deal is part of the company’s wider investment in sport, according to Ineos, whose sporting family includes the Ineos 1:59 Challenge with Eliud Kipchoge breaking the two-hour marathon barrier, Ineos Team UK, Britain’s challenger for the 36th America’s Cup and the Team Ineos cycling team.
Ligue 1 football club OGC Nice and Swiss Challenge League side FC Lausanne-Sport are also part of the portfolio, alongside charitable participation initiatives, The Daily Mile, Ineos Go Run For Fun and the 1851 Trust.
“It’s a proud moment for Ineos to become principal partner to the world’s best Formula One team – and by extension to one of the world’s most prestigious brands, Mercedes-Benz,” Jim Ratcliffe, founder and chairman of Ineos, said in a company statement.
“The Mercedes team is a leader in global sport and have consistently shown that they are at the forefront of technological innovation and human performance. Their grit and determination to redefine what is possible makes them a natural fit for Ineos,” he added.
Toto Wolff, team principal and CEO of Mercedes-AMG Petronas, said, “it is a very proud moment for us to welcome Ineos to Mercedes in their new capacity as principal partner. The company’s ambition, dynamism and entrepreneurial flair are a perfect fit for the spirit of Mercedes-AMG Petronas”.
“Both companies share a restless desire to improve every day and a strong commitment to achieving the very best results,” he added.
Ineos describes itself as a leading chemical company with sales of around $60 billion. The company has several petrochemicals and oil and gas subsidiaries.
To contact the author, email andreas.exarheas@rigzone.com
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