Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
March 25, 2015
TENNECO EXPANDS RIDE PERFORMANCE OPERATIONS IN CELAYA, MEXICO
Expansion supports future growth in the region, adds 150 jobs
Celaya, Mexico, March 24, 2015 - Tenneco (NYSE: TEN), a global supplier of clean air and ride performance products and systems, today announced that it has expanded its ride performance manufacturing operations in Celaya, Mexico. The expansion will help to accommodate new business growth for the company’s North American light vehicle customers, while supporting future growth opportunities in the Mexico and Latin American markets.
At an event held today at the facility, Miguel Márquez Márquez, Governor of Guanajuato, toured the plant and spoke with employees and the company’s senior leaders. Tenneco’s Celaya facility produces shock absorbers and other ride control products for light vehicles and commercial trucks.
“Enhancing our capabilities in Celaya helps us support growth and our customers’ requirements for quality, cost, technology, and on-time delivery,” said Mike Seurynck, Tenneco vice president and general manager, North America Ride Performance. “Our growth in Celaya also offers exciting opportunities for current and future employees, through new technology training and skill development.”
The $9 million facility expansion includes the addition of more than 10,000 square meters of new warehouse and office space, two new manufacturing lines and a reconfiguration of existing production space. The company expects to hire approximately 150 employees in the coming year to accommodate the additional growth.
Tenneco opened its first manufacturing operations in Mexico in 1983. Today, the company operates four manufacturing facilities there, with ride performance production in Celaya and Reynosa and clean air plants in Aguascalientes and Puebla. More than 2,000 employees support light and commercial vehicle customers throughout the region.
Tenneco is an $8.4 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 29,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of clean air and ride performance products and systems for automotive, commercial truck and off-highway original equipment markets and the aftermarket. Tenneco’s principal brand names are Monroe®, Walker®, XNOx™ and Clevite®Elastomer.
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 or commercial vehicle 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) any change in customer demand or any other changes in consumer demand and prices, including decreases in demand for automobiles or commercial vehicles 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. Additional information regarding risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its report on Form 10-K for the year ended December 31, 2014.
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