V8s to throttle $60 million into economy

Written on the 8 June 2010

An automotive retailer that started in a Southern California laboratory almost 40 years ago has signed as naming rights sponsor for the Gold Coast V8 Supercar Championship Series SuperCarnivale in a four-year deal worth $3 million.

The Armor All Gold Coast 600 will see 18 international drivers teamed up with Australia’s V8 stars in two 300 km endurance races on the streets of Surfers Paradise from October 22-24.

The Armor All story started in 1962 when a 21-year-old polymer chemist named Joe Palcher invented a milky-white ‘miracle’ formula to protect rubber, plastic and vinyl surfaces from UV radiation and ozone. The products are now found in all automotive sections of department stores and specialist car care retailers.

SuperCarnivale chief operating officer Shane Howard, says the deal was auspicious given the synergies and timing.

“Armor All had actually expressed interest in coming on board as naming rights sponsor for our Townsville event at the same time as CSR (now Sucrogen following demerger) was interested. Given the synergy with sugar and Townsville we offered Armor All the Gold Coast race, which they were delighted by given the strong international contingent, he says.

“It’s a match made in heaven. There’s not too many times where an opportunity like that falls into two marquee events.”

Premier Anna Bligh says the event will be a tourism drawcard for the region. The Bligh Government appointed AVESCO to run the show following the ramshackle 2009 saga that resulted in the sacking of long-time event manager IMG.

It is estimated that more than $60 million will be injected into the Queensland economy and more than 500 jobs will be created.


Latest News

AVEO GROUP TO BUY BACK SHARES FOLLOWING MEDIA INVESTIGATION

FOLLOWING last night's Four Corners report which revealed accusations against Aveo Group (ASX: AOG) of financi...

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

CROWN EMPLOYEES CONVICTED, JASON O'CONNOR TO SPEND 10 MONTHS IN JAIL

CROWN Resorts (ASX: CWN) employees who were arrested in October last year on suspicion of gambling offences have b...

QUICK TURNAROUND FOR $20 MILLION OFFICE IN MELBOURNE OUTER-EAST

AN office building in Melbourne's outer eastern suburb of Mount Waverley has sold for $20.5 million just two year...

Related News

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

CHINESE TECH FIRM LOOKS TO AUSTRALIA FOR 'CUTTING EDGE' IDEAS

CHINESE ed-tech company Retech Technologies (ASX: RTE) has listed on the ASX after raising $17.9 million from its IPO...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter