Tenneco Announces New North America Aftermarket Business
New Ride Control, Exhaust and Brake Business Worth About $12 Million Annually
Tenneco Inc. (NYSE: TEN) announced today that the company has won new aftermarket business in North America that is expected to generate approximately $12 million in revenue annually.
The new business – which includes ride control, exhaust and brake products – generated initial orders worth $6 million of revenue in the second quarter 2008. Tenneco expects to record approximately a $7 million charge associated with changing over new customers in the second quarter.
“We added 14 new customers and solidified our position with a number of existing customers with these new business wins,” said Joe Pomaranski, vice president, North America aftermarket. “Tenneco’s continued success in the North American aftermarket reflects our commitment to providing leading technology products backed by strong customer programs and support.”
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