July 23, 2009
DEWALT®, a manufacturer of industrial power tools, announced today that it will not renew its agreement with Roush Fenway Racing to sponsor Matt Kenseth, driver of the #1& Ford® Fusion® for the 2010 NASCAR® season. While the motor sports program has been a valuable marketing tool for DEWALT during the past 12 years, the company has decided to redirect its resources in light of an unprecedented decline in the construction industry.
Les Ireland, president of the North American Power Tools and Accessories Group for DEWALT, commented, "We have been proud to have Matt Kenseth, Robbie Reiser, Jack Roush, and the entire #17 DEWALT Racing team at Roush Fenway Racing represent DEWALT in front of millions of NASCAR faithful. During our sponsorship, Matt and the crew won the 2000 Rookie-of-the-Year Award, two World Pit Crew Championships, the 2003 Series Championship, and have qualified for the "Chase for the Cup" for every year since its inception as well as 18 races, most notable this year's Daytona 500. DEWALT manufactures tools and accessories that are Guaranteed Tough™ for the jobsite, and Matt's style, personality and success have been an outstanding fit with our brand. Having a presence at the track has provided a great experience for power tool users, our distribution partners, our employees and NASCAR fans.
"Our decision to discontinue the sponsorship, while a difficult one, will help us to continue delivering value to our customers and end users, while managing our financial results. We remain committed to the team for the 2009 season, and will have an ongoing presence in the sport as DEWALT tools will continue to be used to build and maintain racecars and equipment. We would like to thank DEWALT racing fans for their loyal support over the years and we also thank Matt, and the entire Roush Fenway Racing organization for their efforts and outstanding results, and wish them continued success."