CONSHOHOCKEN, Pa., May 25, 2012 /PRNewswire/ -- Quaker Chemical Corporation, an official sponsor and technical partner of Sarah Fisher Hartman Racing (SFHR), will ride along on the No. 39 car of rookie Bryan Clauson this Sunday in the 96th running of the Indianapolis 500. Other sponsors include Angie's List, Dallara, Honda, and Firestone. The Indianapolis 500, billed as The "Greatest Spectacle in Racing," is the most prestigious event on the IZOD IndyCar Series calendar and the largest single-day sporting event in the world. The event, held at the historic Indianapolis Motor Speedway, has a permanent seating capacity in excessive of 257,000 people, and extra infield seating that increases total capacity to approximately 400,000. Additionally, millions of spectators worldwide tune in to watch the race on television. "The Indianapolis 500 is an exciting event that Quaker is privileged to be a part of with Sarah Fisher Hartman Racing," said Joe Berquist, Quaker VP and Managing Director North America. "Race fans know that this is what it takes to be a champion, and it's what makes our new partnership with SFHR a success. Quaker is dedicated to formulating advanced lubrication and greases that outperform and outlast the competition through continuous research, development and teamwork." During qualifications for the upcoming Indianapolis 500, Clauson crashed in turn one during his first attempt on Pole Day. The SFHR team rallied to repair Clauson's badly damaged machine to earn a spot in the 33-car field on Bump Day. Multiple teams in the IndyCar paddock came to the aid of SFHR with spare parts, "Pretty much every team here offered to help us yesterday," said Mike O'Gara, team manager for SFHR, "We're all competitive but the minute someone's in trouble we're here for each other." On Bump Day, Clauson posted a four-lap average of 214.445 mph, earning him a start for his first Indy 500 from 31st position. SFHR will also enter the No. 67 car driven by Josef Newgarden, which qualified in seventh position on Pole Day. On-track action at the Indianapolis Motor Speedway begins with Miller Lite Carb Day on Friday, May 25, offering race teams the last chance to practice for the IZOD IndyCar Series Indianapolis 500. The 96th running of the Indianapolis 500 will take place on Sunday, May 27 and will be broadcast on ABC beginning at 12:00 noon EST. In an effort to provide SFHR with an "on- track" advantage in the Indianapolis 500 and the rest of the IZOD IndyCar Series schedule, Quaker engineers will be working alongside SFHR technical staff to develop and implement technology for advanced lubrications and greases. "This ongoing research and development technical alliance will allow Quaker to develop superior lubrication technology for use within its core industries and customers," said Eliana Holguin, Quaker Global Marketing Manager. Quaker, with over 90 years of experience, provides process chemicals and fluids, fire resistant hydraulic fluids, liquid casting lubricants, and multipurpose greases supporting a wide range of manufacturing industries. However, the technical alliance with SFHR will be a great opportunity to improve product formulation and processes in the context of high-performance racing, designed to enhance the SFHR team racing.
Jefferies analysts note that recent construction spending data indicates a cycle rotation away from construction-exposed names and toward industrial- and durable goods-levered firms could be playing out.
Quaker Chemical Corporation (NYSE:KWR) hit a new 52-week high Thursday as it is currently trading at $46.16, above its previous 52-week high of $46.02 with 7,362 shares traded as of 11:19 a.m. ET. Average volume has been 54,400 shares over the past 30 days.