Castrol forms OPTIS with TechSolve.
In a landmark agreement, Castrol's strategic innovation arm, Castrol innoVentures has entered into a 50:50 agreement with machining process improvement company, TechSolve.
OPTIS will develop technology and services to enable manufacturers of machined parts to improve efficiency in their operations and across the supply chain.
Marci Brand, Vice-President of Castrol Industrial, Marine and Energy, said: “The launch of OPTIS marks the start of a new era of opportunity in manufacturing. 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.”
The new entity will focus on automotive, aerospace, construction equipment and machinery manufacture and provide strategic advice, technology, data analytics and practical solutions. The company will be based at TechSolve’s current offices in Ohio, USA.