Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange)
November 4, 2019
DRIV™ MAKES OFFICIAL DEBUT AT AAPEX 2019
Global ‘Start-up’ to Feature its Leading Products, Brands and Services, Including Well-Known Brands Such as Fel-Pro®, Monroe®, MOOG®, Wagner® and Walker®
Lake Forest, Illinois, November 4, 2019 — DRiV™, the $6 billion company being built from the combined strengths of Tenneco Inc.’s (NYSE: TEN) ride performance and aftermarket business, Federal-Mogul Motorparts and Öhlins Racing, will attend AAPEX 2019, November 5-7, 2019, in Las Vegas, Nevada. This year’s show marks the first time that many of the aftermarket’s best-known and respected brands are showcased together in one booth, under the DRiV banner.
“We couldn’t be more excited to show customers all the DRiV aftermarket brands under one roof at this year’s show,” said Brian Kesseler, DRiV CEO. “The breadth and depth of our product lines, our portfolio of legendary brands, and industry-leading service and support solutions create diverse opportunities for our customers’ growth and success. We want our customer partners to be the most successful in the industry, and we know that our success will follow.”
Located at the Sands Expo and Convention Center (second floor), booth #3217, DRiV debuts a brand-new display highlighting the products and service capabilities that make DRiV a global player in the aftermarket industry. Some highlights at the booth include:
- Fel-Pro® Premium Sealing Solutions: Designed for the repair environment, Fel-Pro gaskets are application-specific to provide technicians with easier installations and a more reliable product — for over 100 years. New this year are the NextGen PermaTorque® MLS and PermaDryPlus® gaskets, which are tested and validated under real-world conditions to ensure they perform on the road.
- Monroe® Shocks and Struts: Introducing the Magnum Loaded Strut Assembly, manufactured for larger, more versatile vehicles that are performing under more rigorous conditions (towing, hauling, plowing, etc.), without sacrificing OE-style control, comfort, and durability. Where applicable, each assembly includes a variable-rate coil spring that automatically adjusts to the range of loads required by a truck, while maintaining ride height and control in most operating conditions.
- MOOG® Steering and Suspension Parts: The MOOG premium control arm product line has again expanded, with enhanced structural shape through heat treatment and OE metallurgy for increased strength and durability. MOOG control arms provide better fit, ride and serviceability.
Also featured are high utilization control arm designs for heavier loads and harsh driving conditions. These control arms are ready for the hardest jobs—first responder vehicles, heavy-duty pick-ups, and commercial vans, to name a few—and provide the extra strength and durability they need.
- Öhlins® Advanced Suspension Technology: Öhlins will feature the McPherson Strut Product TTX 46MT, the 4-way adjustable through rod design McPherson strut, which provides a wide range of damping adjustments without ever having to remove it from the vehicle. With utilization of the included valving reference program, quick tuning during the product development process occurs, giving drivers maximum performance on the track. The highly modular, rigid and adaptable architecture allows for easy fitment to most strut applications.
- Wagner® Braking: Wagner is known for strong engineering, design and testing of all its products, including the full Wagner OEX product line, now available for passenger vehicles (Wagner OEX Car). Featuring customized shape and slot design, with galvanized plates and premium shims and hardware to inhibit corrosion, pad life can last up to two times longer.
- Walker® Exhaust Products: This year, Walker features its direct-fit converter. Built with OE-style form and fit in mind and including all hangers, flanges and brackets, converter installation requires fewer tools and fewer steps, greatly reducing installation time. These EPA-compliant converters feature premium substrate material and a high-technology washcoat to ensure exceptional oxygen storage capacity to reduce emissions and maintain proper engine performance. Currently, Walker offers 89% EPA-compliant direct-fit converter market coverage.
Additional product showcases at the DRiV booth include products and service solutions from quality brands and services such as Champion®, featuring Champion batteries; Ferodo® brake pads; Garage Gurus®, DRiV’s “Tech First” initiative that provides the most comprehensive program of support tools in the industry; Jurid® brakes; National® oil seals; Abex® heavy-duty brakes; and FP Diesel® heavy-duty engine components.
To learn more about DRiV, visit our booth during AAPEX, located on the second floor of the Sands Expo and Convention Center, #3217; and visit our website at www.driv.com.
About DRiVTM - the future Aftermarket and Ride Performance Company
Following the expected separation of Tenneco to form two independent companies, an Aftermarket and Ride Performance company (DRiV™) as well as a new Powertrain Technology company, DRiV will be one of the largest global multi-line, multi-brand aftermarket companies, and one of the largest global OE ride performance and braking companies. DRiV’s principal product brands will feature Monroe®, Öhlins®, Walker®, Clevite® Elastomers, MOOG®, Fel-Pro®, Wagner®, Ferodo®, Champion® and others. DRiV would have 2018 pro-forma revenues of $6.4 billion, with 54% of those revenues from aftermarket and 46% from original equipment customers.
This release contains forward-looking statements. These forward-looking statements include, among others, statements relating to our plans to separate into two independent public companies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements, including the possibility that Tenneco may not complete the spin-off of the Aftermarket & Ride Performance business from the Powertrain Technology business (or achieve some or all of the anticipated benefits of such a spin-off); the possibility that the acquisition of Federal-Mogul or the separation may have an adverse impact on existing arrangements with Tenneco, including those related to transition, manufacturing and supply services and tax matters; the ability to retain and hire key personnel and maintain relationships with customers, suppliers or other business partners; the risk that the benefits of the acquisition of Federal-Mogul or the separation, including synergies, may not be fully realized or may take longer to realize than expected; the risk that the acquisition of Federal-Mogul or the separation may not advance Tenneco’s business strategy; the risk that Tenneco may experience difficulty integrating all employees or operations; the potential diversion of Tenneco management’s attention resulting from the separation; as well as the risk factors and cautionary statements included in Tenneco’s periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the SEC. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Unless otherwise indicated, the forward-looking statements in this release are made as of the date of this communication, and, except as required by law, Tenneco does not undertake any obligation, and disclaims any obligation, to publicly disclose revisions or updates to any forward-looking statements. 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 annual report on Form 10-K for the year ended December 31, 2018.
Bill Dawson (DRiV) – 847.482.5807
Karen Shulhan (DRiV) – 248.354.4383