Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
March 6, 2001
TENNECO AUTOMOTIVE WINS PRESTIGIOUS 2001 PACE AWARD
Company Recognized for Innovative Shock Absorber Technology
LAKE FOREST, ILLINOIS, MARCH 6, 2001 - Tenneco Automotive (NYSE: TEN) announced today that the company is a winner of the 2001 PACE (Premier Automotive Suppliers' Contributions to Excellence) Award for its ASD shock absorber technology. The PACE award, sponsored by Automotive News and Cap Gemini Ernst & Young, LLP, recognizes creativity, excellence, and innovation in the automotive supply industry. Winners of the 2001 PACE award were announced yesterday at the seventh-annual awards ceremony.
"We are very proud to be a recipient of this year's PACE award and thank Automotive News and Cap Gemini Ernst & Young for this recognition," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "We're also pleased to share our excitement about the success of the ASD shock absorber. We leveraged our expertise in ride-control technology to deliver a product that takes shock absorbers to a new level in terms of vehicle handling, control, and ride comfort."
Tenneco Automotive's ASD shock absorber is a simple and cost effective technology, which improves the handling and safety of a vehicle without compromising comfort and ride. At the heart of the ASD shock absorber is a patented impact sensor, an innovative valve technology, which allows the shock to switch between firm and soft compression damping. Under normal driving conditions, the technology delivers firm damping and good handling. When a tire encounters a bump, the valve opens instantaneously, reducing damping and absorbing the impact. The technology is already adapted on major vehicle platfoms and has been a commercial success in the replacement parts market, sold under the Monroe® Reflex™ brand name.
Tenneco Automotive's ASD technology was among 11 finalists judged for this year's Product Innovation award. The PACE Award finalists were evaluated on strict criteria including degree of innovation, success and practicality of commercialization, and the impact of the product on the business.
Tenneco Automotive is a $3.5 billion manufacturing company headquartered in Lake Forest, Ill., with 23,000 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust systems and products, which are sold under the Monroe® and Walker® global brand names. Among its products are Sensa-Trac® and Reflex™ shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow™ mufflers and DynoMax™ performance exhaust products, and Monroe® Clevite™ vibration control components.
CONTACT: Tenneco Automotive, Media relations
Jane Ostrander, 847/482-5607
Tenneco Automotive, Investor relations
Leslie Cleveland Hague, 847/482-5042