Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
February 1, 2000
TENNECO AUTOMOTIVE ANNOUNCE SPONSORSHIP OF V8 SUPERCAR SERIES SAFETY CARS
Tenneco Automotive have announced their involvement in Australia's fastest growing sport, V8 Supercar motor racing. Tenneco Automotive will be "setting the pace" as major sponsors of the V8 Supercars Safety Cars to be used during the 2000 season which kicks off at Phillip Island this month. The two vehicles used interchangeably in the series will, carry the livery of Tenneco Automotive's market leading brands, Monroe® Shock Absorbers and Walker® Exhaust Systems. The VT SS Commodore safety vehicle will carry the Monroe® livery whilst the Walker branded safety car is a AU XR8 Ford Falcon.
The new Monroe® and Walker® Safety Cars will be used as the key promotional point for the 2000 V8 Supercars Series and will feature at each round of racing, including this year's new V8 Lites Series races.
With V8 Supercar racing growing in popularity at an astounding rate, Tenneco Automotive see the new sponsorship deal delivering valuable exposure to a broad and growing audience of trackside and armchair fans.
Tenneco Automotive, Director of Sales and Marketing, Mr. Greg Goudie commented, "The sponsorship of the V8 Supercar Series Safety Cars is a new and exciting direction for Tenneco in the promotion of our Monroe® and Walker® brands. With the growing popularity of the sport, particularly amongst our trade customer base, we're hoping to increase awareness of the Walker® brand, and leverage the link between safety and Monroe® shock absorbers."
AVESCO will transport the Monroe® and Walker® Safety cars around Australia in a brand new, purpose built B-double Pantech, which will also serve as AVESCO's mobile offices at each round of racing. The Pantech will also carry the Monroe® and Walker® Safety cars to promotional events and appearances throughout Australia to promote the series.
Background Information Tenneco Automotive is the world's largest producer and marketer of ride control and exhaust management products and systems, producing three of every ten mufflers and 50 percent of the shock absorbers sold each year in the worldwide aftermarket. With 1998 sales of US$3.2 billion, the company is head quartered in Lake Forest, Illinois, U.S.A. Worldwide Tenneco Automotive operate 81 facilities, in 22 countries, on six continents and employ 24,000 people.
In the original equipment market, Tenneco Automotive serves more than 25 different original equipment manufacturers on a global basis, providing products or systems for 6 of the top 10 passenger car models and 8 of the top 10 light truck models produced globally for 1998. In the aftermarket, Tenneco Automotive serves over 500 customers including wholesalers and retailers. The company globally sells its ride control products primarily under the well-recognized Monroe brand name. Tenneco Automotive's emissions control side business is marketed under the industry-leading Walker brand name.
Tenneco Automotive's Australian operations are primarily based in Adelaide, where Monroe ride control and Walker exhaust system manufacturing facilities employ over 1000 people.
Market leaders in ride control products, Monroe manufacture shock absorbers, struts and cartridges to suit 97% of the Australian car park. Their experience gained as suppliers of original equipment to Australian car manufacturers like Ford, Holden, Mitsubishi and Toyota has helped Monroe develop the expertise to design and engineer ride control products specifically for the Australian aftermarket. With over 80 years manufacturing experience, Monroe remain well ahead their competitors by continuing to offer aftermarket ride control products that meet or exceed original equipment specifications.
Tenneco Automotive's Walker brand of aftermarket exhaust systems and components leads the Australian exhaust market with an extensive range of replacement mufflers, engine pipes, catalytic converters, universal mufflers and accessories. In Australia, Walker are original equipment suppliers to all major local vehicle manufacturers, including Ford, Holden, Toyota and Mitsubishi as well as suppliers to Tickford and HSV.