Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange)
January 16, 2020
TENNECO SUPPLYING ENGINE TECHNOLOGIES FOR ALL 10 OF WARDS 10 BEST ENGINES & PROPULSION SYSTEMS FOR 2020
SOUTHFIELD, Michigan, January 16, 2020…Tenneco Inc. (NYSE:TEN) is supplying engine technologies for all ten of Wards 10 Best Engines & Propulsion Systems for 2020 model year vehicles. Since the inception of the Wards 10 Best Engines & Propulsion Systems competition 26 years ago, Tenneco has designed and manufactured leading technologies for many of the engines recognized each year as the “Wards 10 Best Engines & Propulsion Systems.”
“We’re proud to contribute to the success of these engines that have been recognized as Wards 10 Best Engines & Propulsion Systems,” said Rainer Jueckstock, Executive Vice President, Tenneco and President, Powertrain. “As a global leader of powertrain solutions, we remain committed to helping our customers develop engines that deliver optimal fuel economy, reduce emissions and enhance vehicle performance.”
2020 award-winning engines featuring Tenneco technologies include:
- BMW 3.0L DOHC Turbocharged I-6 (BMW M340i)
- Daimler 3.0L DOHC 48V Turbo I-6 (Mercedes-Benz GLE450)
- FCA 3.6L DOHC 48V eTorque V-6 (Ram 1500)
- Ford 2.3L DOHC High Performance Turbo 4-Cyl. (Mustang)
- GM 3.0L DOHC Turbodiesel I-6 (GMC Sierra)
- GM 6.2L OHV V-8 (Chevrolet Corvette Stingray)
- Honda 2.0L DOHC Atkinson i-VTEC 4-Cyl./HEV (Accord Hybrid)
- Hyundai 150-kW Propulsion System (Kona EV)
- Hyundai 1.6L DOHC Turbocharged 4-Cyl. (Sonata)
- Nissan 2.0L DOHC VC-Turbo 4-Cyl. (Altima)
Tenneco’s Powertrain business provides a wide range of components for these engines, including pistons, piston rings, cylinder liners, valve seats and guides, engine valves, engine bearings, ignition products, heat shields, seals and gaskets and systems protection products.
Since 1995, the Wards 10 Best Engines & Propulsion Systems competition has recognized outstanding engines and electrified propulsion systems, as well as the technology and engineering behind them. All new or significantly improved powertrains, as well as last year's ten returning winners were eligible. Vehicles must have a base price no higher than $65,000. The winning automakers are honored at the WardsAuto Engine & Propulsion Summit in Detroit.
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 pro forma revenues of $17.8 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 independent companies, an Aftermarket and Ride Performance company as well as a Powertrain Technology company.
About the new Tenneco - the future Powertrain Technology company
Following Tenneco's expected separation to form two independent companies, an Aftermarket and Ride Performance company (DRiV™), as well as a new Powertrain Technology company, the new Tenneco will be one of the world's largest pure-play powertrain companies serving OE markets worldwide with engineered solutions addressing fuel economy, power output, and criteria pollution requirements for gasoline, diesel and electrified powertrains. The new Tenneco would have 2018 pro-forma revenues of $11.4 billion, serving light vehicle, commercial truck, off-highway and industrial markets.
About DRiV™ - the future Aftermarket and Ride Performance company
Following the expected separation of Tenneco to form two independent companies, an Aftermarket and Ride Performance company (DRiV™) as well as a new Powertrain Technology company, DRiV will be one of the largest global multi-line, multi-brand aftermarket companies, and one of the largest global OE ride performance and braking companies. DRiV's principal product brands will feature Monroe®, Ӧhlins®, Walker®, Clevite® Elastomers, MOOG®, Fel-Pro®, Wagner®, Ferodo®, Champion® and others. DRiV would have 2018 pro-forma revenues of $6.4 billion, with 54% of those revenues from aftermarket and 46% from original equipment customers.
This release contains forward-looking statements. These forward-looking statements include, among others, statements relating to our plans to separate into two independent 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 separation of the Aftermarket & Ride Performance business from the Powertrain Technology business (or achieve some or all of the anticipated benefits of such a separation); 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.
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