Dewalt last week announced that it will not renew its agreement with Roush Fenway Racing to sponsor Matt Kenseth, driver of the No. 17 Ford Fusion for the 2010 NASCAR season. While the motor sports program has been a valuable marketing tool for Dewalt during the past 12 years, the company has decided to redirect its resources in light of an unprecedented decline in the construction industry.

“Our decision to discontinue the sponsorship, while a difficult one, will help us to continue delivering value to our customers and end users, while managing our financial results,” said Les Ireland, president of the North American Power Tools and Accessories Group for Dewalt. “We remain committed to the team for the 2009 season, and will have an ongoing presence in the sport as Dewalt tools will continue to be used to build and maintain racecars and equipment.

Dewalt manufactures more than 300 power tool and equipment products as well as 800 power tool accessories, including corded and cordless drills, saws, hammers, grinders, routers, planers, plate joiners, sanders, lasers, generators, compressors and nailers, as well as saw blades, metal and masonry drill bits, abrasives, screw driving accessories and more.