Tenneco And Sturman Industries Announce Joint Product Development Agreement
Lake Forest, Illinois/Woodland Park, Colorado, June 29, 2010 – Tenneco Inc. (NYSE: TEN) and Sturman Industries announced today that the companies have entered into a joint product development agreement to cooperate on designing a new generation of high performing ride control products. Under the agreement, Tenneco and Sturman will develop ride control damping systems that incorporate Sturman’s advanced digital valves and Tenneco’s expertise in adjustable damping technology.
"Sturman is absolutely thrilled to partner with Tenneco on bringing products based on Sturman technology to the market," said Carol Sturman, President of Sturman Industries.
Sturman Industries’ digital valve technologies deliver greater control to mechanical systems. The speed and efficiency of Sturman digital valves enable a new level of performance utilizing digital hydraulics, which combines the precision and control of electromagnetics and intelligent electronics with the high power density "muscle" of hydraulics.
Tenneco is an industry leader in designing and developing innovative damping technologies to enhance a vehicle’s ride comfort, stability and handling. The new ride control products will leverage Sturman’s advanced digital valve technology to help deliver a greater degree of responsiveness to the shock absorber damping due to the consistency of the valve technology in enabling a faster and more controlled response.
"Tenneco is excited about the development of the first digital valve for ride control products. Digital electronic systems offer higher speed, lighter weight, reduced power consumption and lower cost than analog devices," said Tim Jackson, senior vice president and chief technology officer, Tenneco. "This innovation will enable us to bring high performance products to a broader market."
The new ride control products will be especially suited for improving ride performance on high-volume vehicle platforms, cost effectively. Tenneco anticipates initially introducing and commercializing the new technology in the U.S. and European markets.
About Tenneco
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.
About Sturman
Sturman is a world leader in superior process control and system design, accomplished by applying proprietary and practical digital and binary strategies. Designs integrate the advantages of miniaturization, flexibility and fast response by combining intelligent electronics and unique software strategies with efficient magnetics and powerful compact hydraulics. Sturman specializes in modernizing systems to meet environmental and industry demands, and is working in partnership with organizations worldwide that are taking advantage of "Sturman Inside™"
This press release contains forward-looking statements. Words such as "will" and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of Tenneco and Sturman. Because these forward-looking statements involve risks and uncertainties, actual future results could differ materially. Among the factors that could cause actual future results to differ materially from current expectations are Tenneco’s ability to develop and profitably commercialize the products described in this press release and the acceptance of such new products by original equipment manufacturers and consumers. Other factors that could cause actual future results to differ materially from the results described in these forward looking statements are described in Tenneco’s Annual Report on Form 10-K for the year ended December 31, 2009. Neither Tenneco nor Sturman undertakes an obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
CONTACT:
Jane Ostrander
Tenneco
Media inquiries
847 482-5607
jostrander@tenneco.com
Miguel Raimao
Sturman Industries
Media inquiries
+1 719 686-6187
mraimao@sturmanindustries.com
Linae Golla
Tenneco
Investor inquiries
847 482-5162
lgolla@tenneco.com
Jane Ostrander
Tenneco
Media inquiries
847 482-5607
jostrander@tenneco.com
Miguel Raimao
Sturman Industries
Media inquiries
+1 719 686-6187
mraimao@sturmanindustries.com
Linae Golla
Tenneco
Investor inquiries
847 482-5162
lgolla@tenneco.com