Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release - Tuesday, June 9 2009
June 9, 2009
TENNECO IN COMPLIANCE WITH NYSE LISTING STANDARDS
Lake Forest, Illinois, June 9, 2009 – Tenneco Inc. (NYSE: TEN) announced that the company was notified by NYSE Regulation that it is in compliance with the NYSE continued listing requirement that pertains to market capitalization and stockholder’s equity, effective June 1, 2009.
Tenneco had been notified on March 10, 2009 that the company was not in compliance at that time since its average market capitalization had been less than $75 million over a 30-day trading period and the company’s last reported stockholders’ equity was less than $75 million. NYSE recently lowered the minimum requirement to $50 million, which allowed companies to be re-evaluated. Tenneco is considered in compliance since the company’s average market capitalization for the 30 days ended June 5, 2009 was approximately $248 million, exceeding the minimum limit.
Tenneco is a $5.9 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 21,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe®, Walker®, Gillet™ and Clevite®Elastomer brand names.