US – In what is claimed to be the first such agreement between a lubricant producer and a machining process improvement company, a new entity called ‘OPTIS’ will develop technology and services to enable manufacturers of machined parts to enhance the efficiency of their operations and supply chain.
The 50:50 joint venture will combine Castrol’s technical, sales and marketing expertise plus OEM partnerships with TechSolve’s machining and process improvement knowledge, gained through working with a range of companies including global OEMs. OPTIS will also benefit from the worldwide Castrol network which covers 86 countries.
Operating across the automotive, aerospace, construction equipment and machinery manufacturing industries, OPTIS will provide strategic advice, technology, data analytics and practical solutions to generate a competitive advantage.
“The launch of OPTIS marks the start of a new era of opportunity in manufacturing,” commented Marci Brand, vice-president of Castrol Industrial, Marine and Energy. “By taking a more rounded view of machining processes, OPTIS has the capability to help customers identify new areas to achieve greater productivity and profitability – ultimately supporting their long-term growth.”
Jon Iverson, CEO, OPTIS, added: “We believe that there is a need right now for OPTIS’ services, due to the competitive and challenging environments in which manufacturers are operating. Companies are under pressure to increase profitability, yet have little time or resource to focus on opportunities for growth.”
The OPTIS board of directors will consist of Castrol and TechSolve representatives. Iverson was formerly TechSolve vice-president, Machining Technology and Defense Services. The company will be headquartered at the existing TechSolve premises in Ohio and will be supported by a multimillion-dollar machining laboratory.