Castrol launches joint venture with US manufacturing consultancy

Oxford, England – Global lubricants manufacturer, Castrol, has entered into a new joint venture with TechSolve, a specialized U.S.-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 100 years 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 Cincinnati, Ohio, supported by a fully instrumented multi-million-dollar machining laboratory, as well as dedicated sales and marketing resources from Castrol.

 

Source: Castrol