Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange)
May 30, 2019
TENNECO RECOGNIZED BY GENERAL MOTORS AS A 2018 SUPPLIER OF THE YEAR WINNER
Lake Forest, Ill. May 30, 2019 – Tenneco Inc. (NYSE:TEN) was named a GM Supplier of the Year by General Motors during its 27th annual Supplier of the Year awards ceremony held Wednesday, May 15, in Detroit. Tenneco’s Clean Air team was recognized for exhaust system technologies and the Clevite® Elastomer NVH performance materials team was honored for their HydroMount™ cab suspension components.
This is the second-consecutive year that both Tenneco’s Clean Air and NVH performance materials teams were honored – and the third time in the last four years for the NVH performance materials team.
During the event, GM recognized 133 of its best suppliers from 15 countries that have consistently exceeded GM’s expectations, created outstanding value or introduced innovations to the company.
“We are honored to be named a recipient of this prestigious honor from General Motors,” said Roger Wood, Co-CEO, Tenneco. “We’re committed to supporting GM with innovative solutions that improve fuel efficiency and reduce emissions.” Brian Kesseler, co-CEO of Tenneco added, “Innovation, quality and performance are the cornerstones of our business and something that our global team strives to achieve each day, creating solutions that deliver enjoyable driving experiences for our customers.”
Tenneco is a global supplier to GM, supplying Clean Air, Ride Performance and Powertrain technologies on vehicle platforms around the world.
“We hold our suppliers to a high bar,” said Steve Kiefer, GM senior vice president, Global Purchasing and Supply Chain. “They went above and beyond to deliver the innovations and quality that will help us earn customers for life.”
The Supplier of the Year award winners were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners were selected based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales, and Logistics.
Headquartered in Lake Forest, Illinois, Tenneco is one of the world’s leading designers, manufacturers and marketers of Aftermarket, Ride Performance, Clean Air and Powertrain products and technology solutions for diversified markets, including light vehicle, commercial truck, off-highway, industrial and the aftermarket, with 2018 revenues of $11.8 billion and approximately 81,000 employees worldwide. On October 1, 2018, Tenneco completed the acquisition of Federal-Mogul, a leading global supplier to original equipment manufacturers and the aftermarket. Additionally, the company expects to separate its businesses to form two new, independent companies, an Aftermarket and Ride Performance company as well as a new Powertrain Technology company.
This release contains forward-looking statements. These forward-looking statements include, among others, statements relating to our plans to separate into two independent public companies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements, including the possibility that Tenneco may not complete the spin-off of the Aftermarket & Ride Performance business from the Powertrain Technology business (or achieve some or all of the anticipated benefits of such a spin-off); the possibility that the acquisition of Federal-Mogul or the separation may have an adverse impact on existing arrangements with Tenneco, including those related to transition, manufacturing and supply services and tax matters; the ability to retain and hire key personnel and maintain relationships with customers, suppliers or other business partners; the risk that the benefits of the acquisition of Federal-Mogul or the separation, including synergies, may not be fully realized or may take longer to realize than expected; the risk that the acquisition of Federal-Mogul or the separation may not advance Tenneco’s business strategy; the risk that Tenneco may experience difficulty integrating all employees or operations; the potential diversion of Tenneco management’s attention resulting from the separation; as well as the risk factors and cautionary statements included in Tenneco’s periodic and current reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the SEC. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Unless otherwise indicated, the forward-looking statements in this release are made as of the date of this communication, and, except as required by law, Tenneco does not undertake any obligation, and disclaims any obligation, to publicly disclose revisions or updates to any forward-looking statements. Additional information regarding these risk factors and uncertainties is detailed from time to time in the company's SEC filings, including but not limited to its annual report on Form 10-K for the year ended December 31, 2018.
General Motors (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Cadillac, Chevrolet, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle ride-sharing company, can be found at http://www.gm.com.