Castrol Launches Joint Venture with TechSolve

Noria news wires
Tags: industrial lubricants

Castrol recently announced that it has entered into a new joint venture with TechSolve, a specialized U.S.-based manufacturing consultancy. The 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 will focus on four key industry sectors: automotive, aerospace, construction equipment and machinery manufacture.

"The launch of OPTIS marks the start of a new era of opportunity in manufacturing," said Marci Brand, vice-president of Castrol Industrial, Marine and Energy. "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."

OPTIS' board of directors will consist of Castrol and TechSolve representatives. Jon Iverson, TechSolve's former vice president of machining technology and defense services has been appointed CEO of OPTIS.

"We believe that there is a need right now for OPTIS' services due to the competitive and challenging environments in which manufacturers are operating," Iverson said. "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 and will be supported by a multi-million-dollar machining laboratory as well as dedicated sales and marketing resources from Castrol.

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