Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
August 29, 2013
TENNECO SHOWCASING KEY CLEAN AIR, RIDE PERFORMANCE TECHNOLOGIES AT FRANKFURT IAA 2013
Tenneco press conference on Wednesday September 11 at 12:30, Hall 5.1, Stand A16
Lake Forest, Illinois, August 28, 2013 –Tenneco Inc. (NYSE:TEN) will highlight its suite of innovative clean air emissions solutions and advanced ride performance technologies that help global vehicle manufacturers improve emissions, fuel economy and vehicle performance at the IAA Motorshow in Frankfurt, Germany, September 10-13, 2013.
"As vehicles become increasingly sophisticated, the need for technology solutions that reduce vehicle mass, improve fuel economy and meet emissions targets without compromising vehicle performance become critical for vehicle manufacturers," said Tim Jackson, executive vice president, technology, strategy and business development for Tenneco. "At this year’s IAA, we’re pleased to showcase our latest clean air and ride performance solutions that meet these requirements, with advanced engineering expertise and global manufacturing to support the needs of customers anywhere in the world."
Tenneco will exhibit these and other advanced technologies at the show:
Tenneco Software-Based Signature Sound System (TS4)
Tenneco’s ability to deliver signature vehicle sound has taken on a new dimension. With its innovative TS4 system, the company can provide custom designed exhaust tones – ranging from comfort to sporty – by enhancing the sound generated by the engine to better support the vehicle’s brand image. The sounds are generated by an audio controller/amplifier module inside the vehicle and emitted through a loudspeaker near the tailpipe. TS4 is applicable for diesel, gasoline, electric and hybrid vehicles
Thermoelectric Generator (TEG) for Waste Heat Recovery
Tenneco is developing several technologies to improve overall vehicle efficiency by recycling wasted energy. The company’s TEG solution enables the conversion of wasted exhaust heat to electrical energy, which could be used for powering electrical accessories. TEG also enables electrical generator downsizing, which reduces overall vehicle weight.
Electrical Valves for Low Pressure EGR. These fully variable backpressure control valves are designed specifically for low-pressure exhaust gas recirculation (EGR) systems for diesel engines. Controlled by an electric actuator, Tenneco’s Electrical Valve expertly and continuously fine- tunes the position of the exhaust flap to achieve optimal backpressure. When combined with the OEM’s low pressure EGR system, the electrical valve can help the EGR system achieve NOx emissions reductions of up to 50 percent, with little impact on exhaust system weight or performance.
Electrical Valves for Cylinder Deactivation and Acoustic Tuning. Electric valves provide a compact, lightweight and cost-effective solution for precise sound design and noise control in tailpipe applications, as well as adaptive exhaust control in vehicles featuring cylinder deactivation. Most recently, Tenneco’s electrical valve was launched in an acoustic tuning application on the all-new 2014 Chevrolet Corvette Stingray.
Fabricated manifolds, Tenneco’s family of fabricated manifold systems include shell, tubular and double-wall air gap insulated manifolds, all of which provide significant weight, durability and packaging advantages when compared to cast manifolds.
XNOx™ Selective Catalytic Reduction (SCR), XNOx™ combines Tenneco’s expertise in calibrating urea dosing systems with top-performing components such as the company’s patented XNOx injector to deliver an optimized solution with more than 95 percent NOx conversion efficiency. The process uses a chemical reaction to convert toxic NOx from engine emissions into harmless nitrogen and H2O, helping Tenneco’s global customers meet the world’s increasingly stringent NOx emission standards while delivering the engine performance that consumers expect.
RC1 Frequency Dependent Damping is Tenneco's solution for achieving optimal comfort in passenger cars, and enhancing ride handling in sportier vehicle applications. It allows for dedicated tuning for sprung and unsprung mass. The design is suitable for monotube and double tube dampers and provides enhanced comfort, improved tire grip and improved vehicle body control.
Continuously Controlled Electronic Suspension System (CES)
CES is a semi-active suspension system that provides optimum driving safety and improves ride smoothness and NVH (noise, vibration and harshness), achieving the optimal balance between ride comfort and handling. The system changes the feel of a vehicle’s ride by continuously adjusting the shock absorber damping levels to road conditions and vehicle dynamics like speed, turning, cornering and driver inputs. The system was developed by Tenneco in conjunction with Öhlins Racing.
Tenneco’s DRiV™ technology is an extension of the company’s electronic suspension portfolio, providing affordable, adjustable technology for the small and medium vehicle segments. It features four small valves in the rod guide with the electronics integrated in the damper, providing a compact, lightweight solution.
Building on the success of CES technology, Kinetic® H2/CES integrates the Kinetic® H2 system with CES technology. This system combines advanced mechanical and hydraulic systems with intelligent electronics, leading to a suspension concept that improves vehicle handling, stability and driver comfort.
Active Suspension Car (ACOCAR™) The ACOCAR™ fully-active suspension system includes actuators with two continuous variable CES valves each and features the addition of hydraulic pumps to bring energy to the suspension. The system controls roll, pitch and heave, resulting in superior handling, safety and comfort. ACOCAR targets the next generation of conventional, hybrid or electric luxury vehicles with availability for series production from 2015 on.
Tenneco is a $7.4 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 25,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of clean air and ride performance products and systems for automotive and commercial vehicle original equipment markets and the aftermarket. Tenneco’s principal brand names are Monroe®, Walker®, XNOx™ and Clevite®Elastomer.
This press release contains forward-looking statements. Words such as "may," "expects," "anticipate," "projects," "will," "outlook" 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) general economic, business and market conditions;
(ii) the company’s ability to source and procure needed materials, components and other products and services in accordance with customer demand and at competitive prices;
(iii) changes in capital availability or costs, including increases in the company's costs of borrowing (i.e., interest rate increases), the amount of the company's debt, the ability of the company to access capital markets at favorable rates, and the credit ratings of the company’s debt;
(iv) changes in consumer demand, prices and the company’s ability to have our products included on top selling vehicles, including any shifts in consumer preferences to lower margin vehicles, for which we may or may not have supply arrangements;
(v) changes in automotive and commercial vehicle manufacturers' production rates and their actual and forecasted requirements for the company's products such as the significant production cuts during recent years by automotive manufacturers in response to difficult economic conditions;
(vi) the overall highly competitive nature of the automobile and commercial vehicle parts industries, and any resultant inability to realize the sales represented by the company’s awarded book of business which is based on anticipated pricing and volumes over the life of the applicable program;
(vii) the loss of any of our large original equipment manufacturer ("OEM") customers (on whom we depend for a substantial portion of our revenues), or the loss of market shares by these customers if we are unable to achieve increased sales to other OEMs or any change in customer demand due to delays in the adoption or enforcement of worldwide emissions regulations;
(viii) workforce factors such as strikes or labor interruptions;
(ix) increases in the costs of raw materials, including the company’s ability to successfully reduce the impact of any such cost increases through materials substitutions, cost reduction initiatives, customer recovery and other methods;
(x) the negative impact of higher fuel prices on transportation and logistics costs, raw material costs and discretionary purchases of vehicles or aftermarket products;
(xi) the cyclical nature of the global vehicular industry, including the performance of the global aftermarket sector and longer product lives of automobile parts;
(xii) the company's continued success in cost reduction and cash management programs and its ability to execute restructuring and other cost reduction plans and to realize anticipated benefits from these plans;
(xiii) product warranty costs;
(xiv) the cost and outcome of existing and any future legal proceedings;
(xv) the failure or breach of our information technology systems and the consequences that such failure or breach may have to our business;
(xvi) economic, exchange rate and political conditions in the countries where we operate or sell our products;
(xvii) 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 the market;
(xviii) changes by the Financial Accounting Standards Board or other accounting regulatory bodies to authoritative generally accepted accounting principles or policies;
(xix) changes in accounting estimates and assumptions, including changes based on additional information;
(xx) governmental actions, including the ability to receive regulatory approvals and the timing of such approvals, as well as the impact of the enforcement of, changes to or compliance with laws and regulations, including those pertaining to environmental concerns, pensions or other regulated activities;
(xxi) natural disasters, acts of war and/or terrorism and the impact of these occurrences or acts on economic, financial, industrial and social condition, including, without limitation, with respect to supply chains and customer demand in the countries where the company operates; and
(xxii) 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. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2012.
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