DEWALT, a leading manufacturer of industrial power tools, announced July 24 that it will not renew its agreement with Roush Fenway Racing to sponsor Matt Kenseth, driver of the No. 17 Ford Fusion for the 2010 NASCAR season.
“While the motorsports 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,” the company said in a press release.
Les Ireland, president of the North American Power Tools and Accessories Group for DEWALT, stated, "We have been proud to have Matt Kenseth, Robbie Reiser, Jack Roush and the entire No. 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 … 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 race cars 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."
DEWALT is a leading manufacturer of industrial power tools, with more than 300 power tool and equipment products as well as 800 power tool accessories, including corded and cordless drills, saws, hammers, grinders, routers, planers, plate joiners, sanders, lasers, generators, compressors and nailers, as well as saw blades, metal and masonry drill bits, abrasives, screw driving accessories and more. DEWALT tools can be found wherever tools are sold, nationally and internationally.