Castrol Launches Joint Venture with TechSolve
A 50-50 partnership will help manufacturers improve efficiency across the supply chain.
UK-based lubricants manufacturer Castrol has entered into a 50-50 joint venture with TechSolve (Cincinnati, Ohio), a specialized U.S. manufacturing consultancy. The new entity, known as OPTIS, will develop technology and services to enable machined parts manufacturers to improve efficiency in their operations and across the supply chain. Jon Iverson, formerly TechSolve vice president of machining technology and defense services has been appointed CEO of OPTIS, and its board of directors will consist of representatives from both companies.
OPTIS is said to combine Castrol’s technical, sales and marketing expertise and OEM partnerships with TechSolve’s machining and process improvement knowledge. According to Marci Brand, vice president of Castrol Industrial, Marine and Energy, the joint venture will be able to help customers identify new areas for improving productivity and profitability by taking a “more rounded” view of machining processes. It will focus on four key industry sectors: automotive, aerospace, construction equipment and machinery manufacture.