Tenneco Automotive Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
January 7, 2004
TENNECO AUTOMOTIVE GROWS DIESEL TECHNOLOGY BUSINESS
Company chosen by Audi to supply diesel particulate filters
LAKE FOREST, ILLINOIS, January 7, 2004 - Tenneco Automotive (NYSE: TEN) further established its position as a leading supplier of diesel particulate filters with its selection to equip Audi A4 and A6 four-cylinder diesel passenger cars in Europe from the second half of 2004.
"We are proud to be the supplier of choice for Europe's leading diesel brands. Audi's decision to work with Tenneco Automotive on diesel particulate filter production confirms our position as a leader in this critical area of emissions reduction," said Mark P. Frissora, chairman and CEO, Tenneco Automotive. "Our state-of-the-art R&D and manufacturing capabilities are at the forefront of developing diesel solutions to help European OEMs more than meet Euro 4 emissions standards."
Earlier this year Tenneco Automotive announced that it will supply diesel particulate filters to DaimlerChrysler for its six-cylinder Mercedes-Benz C-Class and E-Class diesel models. The company first began production of fuel-borne additive diesel particulate filter technology in 2000, in conjunction with PSA for its Citroen C5 and Peugeot 406 diesel passenger cars. Today the company produces more than 700 filters per day at its emissions control manufacturing facility in Edenkoben, Germany.
Tenneco Automotive is one of the first suppliers in Europe to offer both fuel-borne additive and catalyst-coated diesel particulate filter technologies in serial production. Its latest-generation additive diesel particulate filter can achieve a service interval of up to 225,000 km, matching that of first-generation catalyst-coated filters.
Tenneco Automotive currently supplies both exhaust and suspension components for VW Group brands Audi, Skoda and VW, notably on the Golf V, Passat, Sharan, Transporter; Audi A2, A4, A6, Audi TT; Skoda Octavia and Seat Toledo.
Tenneco Automotive is a $3.5 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,600 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 Monroe Reflex® shocks and struts, Rancho® shock absorbers, Walker® Quiet-Flow® mufflers and DynoMax® performance exhaust products, and Monroe® Clevite® vibration control components.
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 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) the general political, economic and competitive conditions in markets and countries where the company and its subsidiaries operate, including currency fluctuations and other risks associated with operating in foreign countries; (ii) governmental actions, including the ability to receive regulatory approvals and the timing of such approvals; (iii) changes in capital availability or costs, including increases in the company's costs of borrowing (i.e., interest rate increases); (iv) 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; (v) 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; (vi) the cost of compliance with changes in regulations, including environmental regulations; (vii) workforce factors such as strikes or labor interruptions; (viii) material substitutions and increases in the costs of raw materials; (ix) the company's ability to execute restructuring and other cost reduction plans and to realize anticipated benefits from these plans; (x) 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; (xi) further changes in the distribution channels for the company's aftermarket products, and further consolidations among automotive parts customers and suppliers; (xii) changes by the Financing Accounting Standards Board or other accounting regulatory bodies of authoritative generally accepted accounting principles or policies; (xiii) acts of war or terrorism and the impact of these acts on economic, financial and social conditions in the countries where we operate and (xiv) the timing and occurrence (or non-occurrence) of transactions and events which may be subject to circumstances beyond the control of the company and its subsidiaries. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Tenneco Automotive, Media Relations
(1) 847 482 5607
Tenneco Automotive, Investor Relations