STP (motor oil company)

For other uses, see STP (disambiguation).

STP

Product type	Automotive performance products
Owner	Armored AutoGroup
Country	United States
Introduced	1953
Website	www.stp.com

STP is an American brand and trade name for the automotive additives, lubricants and performance division of Armored AutoGroup which also own the brand Armor All which is being acquired by Spectrum Brands.^[1]

History

Chemical Compounds was founded in 1953 by three businessmen, Charles Dwight (Doc) Liggett, Jim Hall and Robert De Hart,^[2] with $3,000 in start-up capital in Saint Joseph, Missouri. Their sole product was STP Oil Treatment, the name was derived from “Scientifically Treated Petroleum”.^[3] In 1961, the company was acquired by the Studebaker-Packard Corporation. Studebaker briefly tied STP into its advertising as an abbreviation for “Studebaker Tested Products”. However, Studebaker-Packard CEO Sherwood Egbert felt that STP could one day outpace its parent company and recruited Andy Granatelli as the CEO of STP to help raise the product’s image. At the same time, Granatelli became the public face of STP, often wearing a white suit emblazoned with the red oval STP logo to races, distributing thousands of all-weather STP stickers. Granatelli ran two Novi specials at the 1964 Indianapolis 500. Jim Hurtubise and Bobby Unser were the drivers. There was a film made of the race centering on the Novis. When Studebaker abandoned auto manufacturing in 1966 to become Studebaker-Worthington, STP sales continued to climb to the point where it was spun off into a publicly traded company in 1969.

In 1976, it was acquired by Esmark. Esmark was purchased by Beatrice Foods in 1984, who sold STP to Union Carbide the next year. In 1986, Union Carbide's auto products, which included Prestone and Simoniz, were subject to a leveraged buyout. The resulting company, First Brands, was purchased by Clorox in 1998. In 2010, Clorox sold ArmorAll and STP to Avista Capital Partners. It named the business Armored AutoGroup.

In the fall of 2006, STP fuel additives began being used in Marathon gasolines, likely to compete with Chevron's Techron additive.^[4]

In 1976, STP faced a consumer protection order that required it to have scientific backing for certain statements and prohibited making false claims. In 1978, it paid a $500,000 civil penalty over claims. In 1995, STP paid $888,000 to settle Federal Trade Commission charges of false advertising.^[5]^[6]

Sponsorships

The #43 driven by Bobby Hamilton at Phoenix International Raceway

In 1972, Granatelli agreed to sponsor NASCAR champion Richard Petty,^[7] but their deal almost fell apart before their first race. Andy insisted the car be STP day-glo red. Richard held out for his iconic Petty blue, and neither would budge. The resulting two-tone red and blue scheme became more famous than either color alone. STP sponsored Richard Petty through the end of his driving career in 1992, then Bobby Hamilton, and John Andretti in Petty Enterprises' famous #43, as well as Indy racecar driver Mario Andretti, John's uncle. That partnership ended shortly after its acquisition by Clorox. STP and the Petty family hold the second-longest relationship in automobile racing history (1972–2000). (Kenny Bernstein and son Brandon were sponsored by Budweiser for two years longer (1979–2009).

In August 2012, STP announced that it will be the title sponsor of the World of Outlaws Sprint Car Series in 2013.^[8]

On February 21, 2013, STP announced a return to NASCAR Sprint Cup Series sponsorship in a multi-year deal for the STP Gas Booster 500 starting April 7, 2013 at Martinsville Speedway along with a return as primary sponsor of the Richard Petty Motorsports No. 43 for the 2013 STP Gas Booster 500.^[9] STP also sponsored the Xfinity Series race STP 300 from 2011 to 2013 at Chicagoland Speedway.

Oil treatment

STP Oil Treatment contains Zinc dithiophosphate.

References

External links

Official website

This article is issued from Wikipedia - version of the Friday, May 06, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.