Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
May 3, 2002
IFA SELECTS TENNECO AUTOMOTIVE'S WALKER BRAND AS ITS EXCLUSIVE SUPPLIER OF FULL LINE VEHICLE EXHAUST SYSTEM AND COMPONENT REPLACEMENT PARTS
BIRMINGHAM, ENGLAND, MAY 3, 2002 - Tenneco Automotive (NYSE: TEN) today announced that its Walker U.K. unit has been named the exclusive supplier of full line vehicle exhaust systems and components to Independent Motor Trade Factors Association Ltd. (IFA), the largest association of warehouse distributors serving the vehicle replacement markets in the United Kingdom and Ireland.
The company, which has been supplying a portion of the IFA members with its Walker brand exhaust systems parts for many years, anticipates that its annual sales to the warehouse distributor association will increase by 50 percent as a result of the agreement.
"We see this as an extraordinary win-win for Tenneco Automotive and the IFA," said Don Miller, vice president and general manager for Tenneco Automotive's European aftermarket group. "IFA will benefit from the coverage, quality and popularity that the Walker exhaust brand enjoys with installers throughout the UK and Ireland. The IFA organization has nearly 200 stocking points strategically located throughout the U.K. and Ireland. As the exclusive supplier of full line vehicle exhaust systems and components to the IFA, we will further ensure that Walker's top quality exhaust system replacement parts will be readily available to consumers across the region."
"This is another step towards the IFA's aim of providing consistent brands throughout the whole of the UK," says Alan Johnson, Chairman of the IFA. "Walker is a great brand, and we believe they offer the best range and support package available, which in turn allows us to give the best possible service to our customers."
The agreement is effective as of 1 April, 2002. Terms of the agreement were not disclosed. Tenneco Automotive will supply IFA from its Walker U.K. operation in Birmingham.
"One of Tenneco Automotive's goals is to grow our aftermarket business across Europe on the power of our Walker and Monroe brands," said Hari Nair, executive vice president and managing director for Tenneco Automotive Europe. "We intend to accomplish this goal by further strengthening the business relationships that currently exist with top-quality customers such as the IFA."
"Tenneco Automotive UK is pleased to have gained this supply agreement to the IFA," said Mike Curry, sales and marketing director for U.K. & Eire. "This strategic partnership will benefit both companies and will further strengthen our current U.K. distribution, giving national coverage for our Walker brand."
Tenneco Automotive is a $3.4 billion manufacturing company with headquarters in Lake Forest, Ill., and 21,600 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust systems and products, which are sold under the Monroe® and Walker® global brand names. Among its products are Sensa-Trac® and Reflex™ shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow™ mufflers and DynoMax® performance exhaust products, and Monroe® Clevite™ vibration control components.
The IFA celebrates its 25th anniversary this year. Founded in 1977 by 6 like-minded factors, the organization has grown to an association of 43 Members with nearly 200 branches. The IFA started off simply as a buying group, but over the last 3 years it has transformed itself into a very successful selling group, able to offer consistent prices and brands nationwide via its Central Invoicing System. Known for its extensive stocks and high levels of service, the IFA can now offer a wide range of services to both local and national customers.
Tenneco Automotive, Media Relations Europe
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