Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
September 21, 2004
TENNECO AUTOMOTIVE LAUNCHES ELASTOMER PRODUCTION IN EUROPE
Company's Ermua, Spain Facility to Support Commercial Vehicle Business
HANOVER, GERMANY/LAKE FOREST, ILLINOIS, September 21, 2004 - Tenneco Automotive (NYSE: TEN) announced today that it has launched its elastomer business in Europe, leveraging the company's powerful Clevite®Elastomers brand and strong elastomer market position in North and South America. The company will produce torque rods, links and suspension bushings for global commercial vehicle customers in Europe, which already include Land Rover, Case New Holland, and Van Hool.
Drawing on its success in the North American commercial vehicle market, Tenneco is expanding its elastomer engineering and manufacturing operations in Europe to offer solutions that address increasing customer demand for improved vehicle and cabin stability; better vehicle ride and handling; and noise, vibration and harshness (NVH) reduction. The company has established its European elastomer production at its manufacturing facility in Ermua, Spain.
In comments today at the International Commercial Vehicle Motor Show (IAA), Lois Boyd, Tenneco's vice president of commercial vehicle and specialty markets, said, "We are well-positioned to capture new opportunities in the European commercial vehicle segment with our proven experience in elastomer engineering and production, global manufacturing and program management capabilities and solutions tailored to specific customer needs."
Tenneco currently supplies ride and emissions control products and systems to various commercial vehicle markets including heavy duty truck, off-highway, bus and recreational worldwide. The company has been first to market with innovative diesel technologies for commercial vehicle applications and is a market leader in cabin dampers and torque rods for heavy duty applications. In addition to torque rods, Tenneco's broad range of custom-engineered elastomer products include bushings, links and mounts, which are developed and marketed under the well-known Clevite® Elastomer brand. The company also produces its own custom-formulated rubber compounds and metal components for its products.
Tenneco Automotive is a $3.8 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,200 employees worldwide. Tenneco Automotive 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 Automotive markets its products principally under the Monroe®, Walker®, Gillet® and Clevite® Elastomer brand names. Among its products are Sensa-Trac® and Monroe Reflex® shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow® mufflers, Dynomax® performance exhaust products, and Clevite® Elastomer noise, vibration and harshness control components.
This press release contains forward-looking statements. Words such as "will," "growing" and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the company (including its subsidiaries). Because these forward-looking statements involve risks and uncertainties, the company's plans, actions and actual results could differ materially. Among the factors that could cause these plans, actions and results to differ materially from current expectations are: (i) the general political, economic and competitive conditions in markets and countries where the company and its subsidiaries operate, including currency fluctuations and other risks associated with operating in foreign countries; (ii) changes in automotive manufacturers' production rates and their actual and forecasted requirements for the company's products, including the company's resultant inability to realize the sales represented by its awarded book of business; (iii) changes in consumer demand and prices, including decreases in demand for automobiles which include the company's products, and the potential negative impact on the company's revenues and margins from such products; (iv) workforce factors such as strikes or labor interruptions; (v) material substitutions and increases in the costs of raw materials; (vi) the company's ability to develop and profitably commercialize new products and technologies, and the acceptance of such new products and technologies by the company's customers; and (xviii) the timing and occurrence (or non-occurrence) of transactions and events which may be subject to circumstances beyond the control of the company and its subsidiaries. For additional factors that could cause the company's plans, actions and results to differ materially from current expectations see "Cautionary Statement for Purposes of the 'Safe Harbor' Provisions of the Private Securities Litigation Reform Act of 1995" in the company's annual report on Form 10-K for the year ended December 31, 2003. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Tenneco Automotive, Media Relations
(1) 847 482 5607
Tenneco Automotive, Media Relations - Europe
32 (0) 2 706 9470
Tenneco Automotive, Investor Relations