Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
April 3, 2013
TENNECO SUPPLYING EMISSION CONTROL TECHNOLOGIES ON 2014 CHEVROLET CORVETTE STINGRAY
Company helps create Corvette’s signature sound for next-generation sportscar
Lake Forest, IL April 3, 2013 – Tenneco (NYSE: TEN) announced it is supplying key emission control technologies, including electrical valves, for the 2014 Chevrolet Corvette Stingray, one of the most highly anticipated vehicles debuting in 2013. Considered one of the key performance features of the car, the Corvette’s exhaust system delivers a unique signature sound.
Most notably, the Corvette’s standard exhaust system is the first vehicle to utilize Tenneco’s electrical valve technology for sound tuning. The electric valves are designed to work in concert with the vehicle’s Active Fuel Management (AFM) system, a fuel-saving four-cylinder mode versus eight-cylinder mode. The valves open and close to control the Corvette’s exhaust sound as it switches between the two engine modes.
In addition to the valves highlighted in the AFM system, the exhaust system features an option which includes two additional electrical valves in the tailpipes, tuned specifically for enhanced sound quality. These valves remain closed during normal driving conditions and open during harder acceleration, creating lower backpressure, more engine power and most importantly, Corvette’s signature sound.
"The Corvette is one of America’s iconic automobiles, and Tenneco could not be more excited and pleased to partner with Chevrolet to provide a combination of performance attributes, including improved fuel economy, power and the vehicle's signature sound," said Tim Jackson, Tenneco’s chief technology officer. "Additionally, the program gives Tenneco an opportunity to demonstrate our advanced exhaust technology on one of the highest performance vehicles available in the market."
Tenneco is a global supplier to General Motors, providing both ride performance and clean air technologies for GM passenger cars and light and medium-duty trucks.
The company manufactures the electric valves at its Valencia, Spain facility, while the other system components will be produced at its Seward, Nebraska and Elkhart, Indiana facilities. Final assembly of the exhaust system takes place at Tenneco’s Smithville, Tennessee plant. Tenneco’s global emissions technical centers in Edenkoben, Germany and Grass Lake, Michigan provided electric valve engineering and systems 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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