Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
April 10, 2013
TENNECO SUPPLIES KEY RIDE PERFORMANCE, CLEAN AIR TECHNOLOGIES FOR ALL-NEW CHEVROLET MALIBU
Company providing global support on GM’s midsize vehicle platform
Lake Forest, Illinois, April 10, 2013 – Tenneco Inc. (NYSE:TEN) today announced it is supplying ride performance and clean air technologies on the 2013 Chevrolet Malibu and Malibu Eco. Tenneco is a global supplier to General Motors on the new midsize vehicle platform, supporting Chevy Malibu production in North America, China and Korea, as well as the Buick Regal and LaCrosse models in North America and China, and the Opel Insignia model in Europe.
Tenneco supplies both hot- and cold-end emission control systems for the 2.4L Ecotec four-cylinder engine, 2.5L Ecotec four-cylinder engine and the new Ecotec 2.0L turbocharged engine. Tenneco collaborated with GM engineers to provide lightweight solutions in the Malibu’s exhaust system including designs that reduce precious metal content and incorporate single wall muffler shells and hollow rods to lower cost and weight. The company is also supplying front strut modules, rear shock absorbers and exhaust isolators.
"We’re proud of our partnership with GM and the global collaboration we provide to support the company with this important vehicle launch," said Gregg Sherrill, Tenneco Chairman and Chief Executive Officer. "The Malibu launch requires engineering and manufacturing resources in key regions of the world, and Tenneco has the capabilities in place to accommodate these needs."
For North America production, Tenneco manufactures the Malibu’s hot-end exhaust systems at its Smithville, Tennessee and Seward, Nebraska facilities, and supplies converters from Litchfield, Michigan. Cold-end exhaust systems are produced at the company’s Cambridge, Ontario and Seward, Nebraska plants. Ride control components are manufactured in Hartwell, Georgia and Kettering, Ohio, and exhaust isolators are supplied from the company’s Suzhou, China facility. Tenneco’s emission control technical centers in Edenkoben, Germany, Grass Lake, Michigan and Shanghai, China provided engineering and system integration support.
Tenneco is a $7.4 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 25,000 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 and commercial vehicle 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 due to delays in the adoption or enforcement of worldwide emissions regulations 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, 2012.
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