LAKE FOREST, IL — Tenneco has won new aftermarket business in the third quarter, which in total will generate nearly $11 million in incremental revenue. The contracts include new ride control business with an affiliate of one of Tenneco’s largest customers in North America. This new business was previously serviced by a competitor. In addition, the company won business with four new customers for ride and/or emission control products.
"Tenneco’s powerful and well-known brands coupled with our strong distribution capabilities distinguish us in this market," said Neal Yanos, senior vice president and general manager, North American original equipment ride control and aftermarket. "We are pleased to win new business and look forward to serving these customers with Tenneco’s premium Monroe and Walker products and outstanding marketing support."
Tenneco anticipates taking a $5 million charge in the third quarter for customer changeover costs, expenses incurred to replace competitors’ products in retail outlets with Tenneco products.
The Monroe ride control products will be produced primarily at Tenneco’s facility in Paragould, AK, and the Walker exhaust products at its Harrisonburg, VA, facility.
For more information about Tenneco, go to: http://www.tenneco.com.
