V8s to throttle $60 million into economy

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.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How does Cloud ERP benefit C-Level executives?
Partner Content
The time is ripe to get serious about digital transformation, make it a priority and im...
Annexa
Advertisement

Related Stories

Vibrant founders to vie for Australian Young Entrepreneur Awards

Vibrant founders to vie for Australian Young Entrepreneur Awards

Following hotly contested events across four cities, a community of...

Deloitte reveals Australia’s fastest growing tech companies, beating the odds to hit an 18-year high

Deloitte reveals Australia’s fastest growing tech companies, beating the odds to hit an 18-year high

It appears that the combined disruption of a pandemic, floods, glob...

Body Fit Training outpaces F45 again in court

Body Fit Training outpaces F45 again in court

Two Australian-founded fitness companies have gone head to head in ...

Super fund HESTA commits $240m to build-to-rent housing projects

Super fund HESTA commits $240m to build-to-rent housing projects

Health and community services super fund HESTA has announced today ...