Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
November 10, 2004
TENNECO AUTOMOTIVE WINS NEW FORD DIESEL EXHAUST BUSINESS
Company to Supply Exhaust Systems for F-250 and F-350 Diesel Super-Duty Trucks
LAKE FOREST, ILLINOIS, NOVEMBER 10, 2004 - Tenneco Automotive (NYSE: TEN) announced today that the company has been selected by Ford Motor Company to supply the full exhaust system on Ford's Heavy Duty F-Series diesel pick-up trucks that will launch in 2006. The company will supply hot and cold-end exhaust components including the diesel oxidation catalyst, diesel particulate filter and tuning devices.
Previously, Tenneco Automotive had been named the full service exhaust supplier for the gasoline version of the F-Series Super Duty trucks, which will also launch in 2006. Together, these contracts represent the largest single new business win ever for Tenneco Automotive. The company also supplies the cold-end exhaust system on Ford's F-Series light duty pick-up truck and is responsible for hot and cold-end system integration.
"We are extremely proud of our partnership with Ford and our performance in launching and supplying exhaust systems tailored to the F-Series platforms. We are especially pleased to win the heavy duty business, which gives us another opportunity to showcase our latest diesel technologies," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "We are growing our book of business as we continue to serve customers around the globe with innovative products and outstanding service, from the earliest design stages through the launch of our products on new vehicles."
Tenneco Automotive is a global supplier to Ford Motor Company, providing both ride control and emission control products. In North America, the company's exhaust products and systems can be found on the Ford F-Series light duty pick-up truck, the Expedition and Navigator SUVs and on the Jaguar, Lincoln LS and Thunderbird passenger cars.
Tenneco Automotive's global emission control operations include 44 emission control manufacturing facilities including 13 Just-In-Time operations and four engineering centers devoted to exhaust engineering and technology. The company's broad range of emission control products and systems address increasingly stringent emission and noise regulations, the drive for better fuel efficiency, emission control demands of diesel and other alternative fuel and hybrid vehicles and the growing demand for lighter weight vehicle components.
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", "expects","continue" 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) the cost of compliance with changes in regulations, including environmental regulations; (v) workforce factors such as strikes or labor interruptions; (vi) material substitutions and increases in the costs of raw materials; (vii) 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. 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, Investor Relations