Tenneco Launches New Business With Nissan
Yokohama, Japan/Lake Forest, IL, November 30, 2010 – Tenneco Inc. (NYSE: TEN) announced today that the company is supplying emission and ride control technologies for Nissan’s new global compact car, the Micra and March models. Tenneco is supplying the platform from new manufacturing plants in Chennai, India; Guangzhou, China; Chonburi, Thailand; and an expanded plant in Hosur, India.
"We are pleased to support Nissan on this very important vehicle launch by building on our already established presence in these fast-growing automotive markets with new manufacturing facilities and expanded engineering resources," said Jeff Jarrell, vice president and managing director, Tenneco Japan. "This new business not only reflects our strategy to capture growth in these dynamic markets but also our efforts to enhance Tenneco’s customer mix by strengthening our relationships with Japan-based OEMs."
Tenneco is supplying shock absorbers and exhaust systems for the Nissan Micra and March. Design and development for these products involved engineering centers in Asia, Europe and North America. Tenneco’s experience in managing complex global programs was key to the success of the project, which is now in production in India, China and Thailand.
"Small car growth in emerging markets is a critical strategy for our Japan-based customers. Tenneco is well-positioned to serve them with local operating experience backed by access to Tenneco’s global manufacturing and engineering resources," said Jarrell. "We maintain a global focus on launch management, quality and cost performance while tailoring product and technology solutions to specific market needs."
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.
This press release contains forward-looking statements. Words such as "anticipate," "expects," "will", "continue" and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the company (including its subsidiaries). Because these forward-looking statements involve risks and uncertainties, the company's plans, actions and actual results could differ materially. Among the factors that could cause these plans, actions and results to differ materially from current expectations are: (i) changes in automotive manufacturers' production rates and their actual and forecasted requirements for the company's products, including the company's resultant inability to realize the sales represented by its awarded book of business; (ii) changes in consumer demand and prices, including decreases in demand for automobiles which include the company's products, and the potential negative impact on the company's revenues and margins from such products; (iii) the general political, economic and competitive conditions in markets where the company and its subsidiaries operate; (iv) workforce factors such as strikes or labor interruptions; (v) material substitutions and increases in the costs of raw materials; and (vi) the company's ability to develop and profitably commercialize new products and technologies, and the acceptance of such new products and technologies by the company's customers. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.