Company recognized for delivering highest shareholder return over the last three years
LAKE FOREST, ILLINOIS, JANUARY 18, 2007 – Tenneco (NYSE: TEN) has been named a winner of a 2006 Global Automotive Shareholder Value Award, recognizing the company for delivering the highest shareholder return for automotive suppliers over the past three years.
The award - based on calculation of total shareholder return as determined by the Pricewaterhouse Coopers Shareholder Value Indices - was given yesterday in Dearborn, Michigan by Pricewaterhouse Coopers and Automotive News to Tenneco Chairman and CEO Gregg Sherrill.
"As Tenneco's newly named chairman and CEO, I am proud of the exceptional achievements of the employees from around the world who executed on strategies for growing our businesses and improving operations, enabling Tenneco to deliver outstanding shareholder value," said Sherrill. "I'm accepting this award on behalf of the entire Tenneco team, every one of our 19,000 talented and dedicated employees."
The Automotive Shareholder Value Awards recognize the highest total shareholder return for automotive vehicle manufacturers, parts suppliers and automotive retailers over one-and three-year periods. Selection of the winners was based on calculation of Total Shareholder Return as determined by the PricewaterhouseCoopers Shareholder Value Indices. The indices take into account both rises and falls in a company's share price, dividends, share buy-backs and new share issues, and provide a measure of shareholder value for stock market listed companies.
Since January of 2000, the indices have been reported in Automotive News on a quarterly basis. Developed specifically for the automotive sector, they provide companies and industry analysts with information on relative returns.
Tenneco is a $4.4 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,000 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. Among its products are Sensa-Trac® and Monroe Reflex® shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow® mufflers, Dynomax® performance exhaust products, and Clevite®Elastomer noise, vibration and harshness control components.
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