Caltex confirms exit.

Caltex has announced that it will not be renewing its sponsorship of V8 Supercar teams Stone Brothers Racing and Triple Eight Race Engineering at the end of the 2007 season.

The company has enjoyed an eight-year involvement with the sport, which has seen Caltex Havoline and Caltex Vortex branded cars win three championships between 2003 and 2005.

The company has been associated with Stone Brothers Racing since 2000 and with Triple Eight Race Engineering for the past two years. It supported the championship winning drives of Marcos Ambrose in 2003 and 2004 and of Russell Ingall in 2005.

Currently, Caltex branding appears on the cars of Ingall and team-mate James Courtney driving for Stone Brothers Racing and Craig Lowndes and Jamie Whincup driving for Team Vodafone (Triple Eight Race Engineering).

Liz Whiteway, national manager brand and communications for Caltex, said that the company had recently completed a review of sponsorships and concluded that it had achieved what it set out to through involvement in V8 Supercars.

"We have been fortunate to be involved with two very professional teams that have delivered success on the track and commercial benefits through all our dealings with them," said Ms Whiteway.

"It's important we also pay tribute to the drivers, in particular Russell Ingall and Craig Lowndes, with whom we have enjoyed a strong relationship in their role as Caltex ambassadors.

"The sponsorship of both Stone Brothers Racing and Triple Eight Race Engineering will continue to the end of 2007, and we have informed the teams of our decision as early as possible to provide adequate time for them to locate and negotiate with new commercial partners."

Ms Whiteway added that sponsorship of V8 Supercars had delivered strong benefits to Caltex in its marketing of Vortex premium fuels and Havoline petrol engine oils and the involvement with the teams had provided valuable technical feedback.

"The door remains open for a return to sponsorship of the sport in the future if that coincides with our business and marketing goals," Ms Whiteway added.

Ingall, whose career was highlighted by winning the 2005 V8 Supercar championship in his Caltex Racing Falcon, said he had enjoyed his personal five-year relationship with the company.

"Caltex has been a strong supporter of the V8 Supercar formula, SBR and myself for sometime and I have to thank them for their professionalism, enthusiasm and friendship," said Ingall.

"Winning the 2005 title in the Caltex Ford is something that I will never forget and it was great to have everyone from Caltex along for the ride. We have plenty of racing to do this year and it is my intention to send them out on a winning note."

Caltex meanwhile has said that it will 'continue its motorsport involvement outside of V8 Supercars' and 'will retain a presence in selected events as part of commercial arrangements with original equipment manufacturers'.