Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange)
May 14, 2019
DRIV INCORPORATED RECEIVES TWO CATALOG AWARDS FROM NAPA AND ACPN
Content Teams Recognized for Cataloging, ACES and PIES
Southfield, Mich., May 14, 2019…The DRiV™ Americas Product Content team recently received two awards from the National Automotive Parts Association (NAPA) and the Automotive Content Professionals Network (ACPN) for excellence in cataloging and for its Walker® CARB Converter catalog.
At the NAPA Vendor Summit, held earlier this year in Atlanta, the DRiV team won an award for Leadership and Excellence in Cataloging for 2018. This award is given annually to the company that exhibits a commitment to excellence in providing high-quality, timely product content to support the customer at the point of sale.
DRiV also earned a Content Excellence Award from ACPN during the 2019 Knowledge Exchange Conference in Tampa, FL. The content team was recognized for achieving the highest score in ACES (Aftermarket Catalog Exchange Standard) and PIES (Product Information Exchange Standard) for the Walker CARB Converter data set. The Walker CARB Converter ACES and PIES xml files were recognized in the medium-sized catalog category based on eight criteria within each of three application-count brackets. High-quality, timely product content plays a vital role in helping aftermarket channel partners identify and sell the correct parts for each vehicle and repair occasion.
“It is very important to provide our customers with the most complete and accurate product content solutions for our products across all of our industry-leading brands,” said Jason Riegel, director, Americas product content. “We are committed to helping our channel partners succeed, and I thank our team for their diligence and the hard work that went in to earning these awards.”
About DRiVTM - the future Aftermarket and Ride Performance Company
Following Tenneco Inc.’s (NYSE: TEN) expected separation to form two new, 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.
Karen Shulhan (Federal-Mogul Motorparts) – 248.354.4383
Drew Shippy (Pinnacle Media) – 330.688.3500