Tokyo, Japan, January 27, 2011 – Tenneco Inc. (NYSE: TEN) announced today that the company has begun producing suspension products for the Toyota Etios, Toyota’s new global small car that recently launched in India.
Tenneco is supplying the Etios with both front struts and rear shock absorbers, which use an adaptable valve technology. This technology allows Tenneco to finely tune ride and handling performance specific to each and every application, including today’s small car trend in emerging markets.
The win is the latest in Tenneco’s increasing expansion into fast-growing automotive markets such as India, and symbolizes the company’s ability to support OEMs on a global scale. Tenneco will supply Toyota’s future compact car launch in Brazil as well.
"We are proud to support Toyota on this strategic, new launch with our global manufacturing and engineering capabilities, including a strong footprint in India," said Jeff Jarrell, vice president and managing director, Tenneco Japan. "The ability to deliver on our global strengths locally, combined with emerging market know-how, is a winning solution for our customers’ growth strategies."
Tenneco is manufacturing the Etios product at its ride control plant in Hosur, India for delivery to Toyota’s Kirloskar Motors plant in Bangalore, India.
The Hosur plant is one of seven Tenneco manufacturing plants located in India – including a recently opened emissions control plant in Chennai – giving the company strong positioning in each of the three major vehicle producing hubs in India.
Tenneco is a $4.6 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 21,000 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. Words such as "anticipate," "expects," "will", "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) 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; (ii) 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; (iii) the general political, economic and competitive conditions in markets where the company and its subsidiaries operate; (iv) workforce factors such as strikes or labor interruptions; (v) material substitutions and increases in the costs of raw materials; and (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. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.