Tenneco Inc. (NYSE:TEN) today announced it is launching ride control business on the all-new 2013 Ford Escape. Beginning this month, Tenneco will supply front struts and rear monotube shocks for the Escape platform, which will be produced at Ford’s Louisville assembly plant.
“We’re proud of our partnership with Ford and our collaborative efforts to develop ride control solutions designed specifically for the capabilities of this all-new vehicle,” said Neal Yanos, Tenneco executive vice president, North America. “We look forward to further supporting Ford with our advanced technology, engineering application capabilities and a global engineering and manufacturing footprint that allows us to meet their ride control needs worldwide.”
Tenneco is a strategic global supplier to Ford Motor Company, providing emissions and ride control components for a number of the company’s passenger cars, as well as light and medium-duty trucks.
Production of the rear shocks for the all-new 2013 Ford Escape will take place at Tenneco’s manufacturing facility in Owen Sound, Ontario while the struts will be manufactured at the company’s Celaya, Mexico operation.Tenneco is a $7.2 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 24,000 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 and commercial vehicle original equipment markets and the aftermarket. Tenneco markets its products principally under the Monroe®, Walker® 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; 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.
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