Mature Market Growth

While we are well-positioned to capitalize on emerging market growth, underpinning our overall success in 2011 was Tenneco’s continued ability to maximize opportunities in large and well-established markets. In North America, record revenue growth was driven by our strong position on light vehicle models including leading pickup truck and sport utility vehicles. Technology-driven growth, particularly with our diesel aftertreatment technologies, was another key driver in North America where we saw the launch and beginning ramp-up on significant commercial vehicle programs.

Our technology leadership and application engineering experience for emissions control systems continue to create growth opportunities in new markets for Tenneco. We’ve already begun to make inroads into the locomotive market for our advanced diesel aftertreatment solutions, with development work well underway. In the U.S., new emissions regulations for the locomotive and marine markets will be phased in beginning in 2014.

As in North America, Tenneco products for emission control and ride control are consistently among the market leaders in Europe. In 2011, our emission control products in Europe made strong contributions to our growth, particularly in luxury vehicles, which are typically a strong segment for European export sales. We also did a good job of capitalizing on diesel regulatory-driven growth opportunities in Europe with initial program launches with new commercial vehicle customers.

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