FEBRUARY 20, 2012

Caterham lands Russian backing

Hard on the heels of its announcement that Vitaly Petrov will replace Jarno Trulli at Caterham this year, comes news of a deal with SIBUR, the largest petrochemical company in Russia and Eastern Europe.

Hard on the heels of its announcement that Vitaly Petrov will replace Jarno Trulli at Caterham this year, comes news of a deal with SIBUR, the largest petrochemical company in Russia and Eastern Europe.

Although drivers such as Petrov and Pastor Maldonado can legitimately claim strong records in F1's feeder category GP2, their value to teams in straitened times became all the more apparent last week when the internet publication of a Williams sales invoice to Venezuelan oil company PDVSA indicated that Maldonado's involvement at Williams is worth almost £30m to the team.

SIMUR, meanwhile, began its relationship with Petrov last year and its logos will feature on both the CT01 cars and on the driver's race suits throughout 2012.®

Caterham owner Tony Fernandes said: "We are delighted to welcome SIBUR into our team and to help them continue their relationship in F1 with Vitaly, and now with Caterham F1 Team. F1 is a truly global sport, and SIBUR's investment is proof of the value F1 can bring.

SIBUR's CEO Dmitry Konov added: "Vitaly plays a very important role for us, and all Russians. Formula One mixes cutting edge technology and the highest level of competition, and these are concepts SIBUR understands very well. We understand how big a challenge it is to succeed in such an intense environment, and to maintain mastery of the conditions whilst always being at the very forefront of technical progress. It is a real pleasure for us to continue our partnership in 2012, when Russia - thanks to Petrov as well - takes another step closer to Formula One."

The first Russian GP, near Soichi, is planned for 2014.®