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Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
May 16, 2007
TENNECO OPENS CHINA RESEARCH AND DEVELOPMENT CENTER
Shanghai, May 16, 2007 – Tenneco Inc. (NYSE:TEN) today announced the grand opening of its first research and development center in China. Tenneco’s engineering center – a joint venture between Shanghai Tractor and Engine Company (STEC), a subsidiary of Shanghai Automotive Industry Corp. (SAIC) – will focus on emission control product design and development for Tenneco’s growing OE and aftermarket businesses in China and the Asia-Pacific region.
The center will deliver leading-edge emission control testing capabilities – including acoustic tuning; noise, vibration and harshness/structural analysis; durability testing; engine vibration durability and diesel aftertreatment design – setting a new standard for emission control engineering centers throughout the region.
"Our new engineering center enables us to locally support our customers with technical expertise, engineering and testing while saving time and costs and strengthening communications," said Gregg Sherrill, Tenneco chairman and CEO. "Additionally, we’ll be able to localize global programs more efficiently and meet our customers’ needs for a greater range of products and technologies."
The 5,800-square meter center, located adjacent to the company’s Shanghai joint venture emission control manufacturing facility, is the first of a three-phase project. The initial phase of the center provides key testing and development capabilities critical to aftertreatment engineering. Phases two and three, scheduled for completion by 2010, will provide additional test labs and emission quality capabilities.
Staffing for the new emission control engineering center includes 23 employees currently. "Led by our highly-trained engineers, the center is our premiere R&D facility in Asia and represents our commitment to the China market," said Sherrill. "Tenneco is well-positioned to take advantage of the growth opportunities in China and the Asia Pacific region as emissions standards tighten and OEMs work to achieve better fuel economy."
Tenneco established its first joint venture in China in 1995 and, according to company estimates, is China’s number one supplier of exhaust systems to original equipment manufacturers. The company operates five majority-owned joint ventures in China including emission control operations in Shanghai, Dalian (two joint ventures with JIT facilities in Changchun) and Chongqing. Tenneco’s ride control joint venture is in Beijing and its wholly-owned elastomer operation is in Suzhou. Volkswagen (SVW), General Motors (SGM), Chery, PSA (DPCA), Daimler Chrysler (Beijing Jeep), Suzuki, Nissan, Audi (FAW-VW) and Ford are among the company’s OE customers.
Tenneco is a $4.7 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,000 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.
This press release contains 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) changes in automobile manufacturers' production rates and their actual and forecasted requirements for the company's products; (ii) the overall highly competitive nature of the automobile parts industry; (iii) the cyclical nature of automobile production and sales of commercial vehicles; and (iv) 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. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release
Tenneco Media Relations
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