Tenneco Inc. (ticker: TEN, exchange: New York Stock Exchange) News Release
March 20, 2008
TENNECO'S KINETIC® TECHNOLOGY ON 2008 TOYOTA LANDCRUISER
Lake Forest, Illinois, March 20, 2008 – Tenneco Inc. (NYSE: TEN) announced that its patented Kinetic suspension technology is featured on the 2008 Toyota LandCruiser 200. Toyota has launched its breakthrough suspension technology, known as the Kinetic Dynamic Suspension System (KDSS), as standard on all five LandCruiser models except on the GXL turbo-diesel where it is offered as an option.
"The growth in our ride control business is driven by customers who want improved handling and stability and unique ride characteristics that help differentiate their vehicles," said Gregg Sherrill, Tenneco chairman and CEO. "Our Kinetic technology is an excellent example of such differentiation, and we were proud to work with Toyota on this important launch."
The KDSS system is designed to provide outstanding vehicle stability for the LandCruiser SUV, for both on- and off-road performance. It improves on-road ride, handling and steering feel by creating a flat operating stance during cornering and lane changing. For challenging off-road maneuvers, the LandCruiser maintains control, balance and an even keel, while helping the driver maintain a comfortable ride.
The system does not rely on the use of wires or electronics, but rather operates through the use of hydraulic pistons, which control the front and rear stabilizer bars.
In launching the 2008 LandCruiser 200, Toyota said, "KDSS enables the new LandCruiser 200 to enjoy two previously contradictory benefits – longer wheel articulation for the most challenging off-road driving and the roll control needed for confident on-road driving."
The 2008 LandCruiser 200 was first launched in Australia, Toyota’s largest market for the full size LandCruiser where the vehicle’s performance excels due to its exceptional durability and performance in the harsh Australian "outback" conditions.
The LandCrusier is the second Toyota sport utility vehicle to feature the KDSS suspension. Tenneco debuted its Kinetic technology on the 2004 Lexus GX470 sport utility vehicle.
Earlier this year, Tenneco announced that it projects it will achieve an average compounded annual OE revenue growth rate of 11% to 13% between 2008 and 2012. This projection includes the Toyota business announced today.
Tenneco is a $6.2 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 21,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe®, Walker®, Gillet™ and Clevite®Elastomer brand names.
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 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) changes in consumer demand and prices, including decreases in demand for automobiles 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; (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; and (vii) the timing and occurrence (or non-occurrence) of transactions and events which may be subject to circumstances beyond the control of the company and its subsidiaries. The company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.