LAKE FOREST, Ill.–(BUSINESS WIRE)–Oct 10, 2018–Tenneco Inc. (NYSE: TEN) appear today that its Board of Directors (“Board”) has declared a annual banknote allotment of $0.25 per allotment on its Class A Voting Common Stock and its Class B Non-Voting Common Stock. The allotment will be payable on December 21, 2018 to shareholders of almanac as of December 4, 2018. Approaching assets will be accountable to Board approval.
Headquartered in Lake Forest, Illinois, Tenneco is one of the world’s arch designers, manufacturers and marketers of Ride Achievement and Clean Air articles and technology solutions for adapted markets, including ablaze vehicle, bartering truck, off-highway accessories and the aftermarket, with 2017 revenues of $9.3 billion and about 32,000 advisers worldwide.
On October 1, 2018, Tenneco completed the accretion of Federal-Mogul LLC, a arch all-around supplier to aboriginal accessories manufacturers and the aftermarket with about 55,000 advisers globally and 2017 revenues of $7.8 billion. Additionally, the aggregation expects to abstracted its businesses to anatomy two new, absolute companies, an Aftermarket and Ride Achievement aggregation as able-bodied as a new Powertrain Technology company, in backward 2019.
About the Approaching Aftermarket and Ride Achievement Company
Following the separation, the aftermarket and ride achievement aggregation will be one of the better all-around multi-line, multi-brand aftermarket companies, and one of the better all-around OE ride achievement and braking companies. The aftermarket and ride achievement company’s arch artefact brands will affection Monroe®, Walker®, Clevite®Elastomers, MOOG®, Fel-Pro®, Wagner®, Champion® and others. The Aftermarket and Ride Achievement aggregation would accept 2017 pro-forma revenues of $6.4 billion, with 57% of those revenues from aftermarket and 43% from aboriginal accessories customers.
About the Approaching Powertrain Technology Company
Following the separation, the powertrain technology aggregation will be one of the world’s better pure-play powertrain companies confined OE markets common with engineered solutions acclamation ammunition economy, adeptness output, and belief abuse requirements for gasoline, agent and electrified powertrains. The powertrain technology aggregation would accept 2017 pro-forma revenues of $10.7 billion, confined ablaze vehicle, bartering truck, off-highway and automated bazaar s.
This absolution contains advanced statements. These advanced statements include, but are not bound to, (i) all statements, added than statements of absolute fact, included in this advice that abode activities, contest or developments that we apprehend or ahead will or may action in the approaching or that depend on approaching contest and (ii) statements about our approaching business affairs and action and added statements that call Tenneco’s outlook, objectives, plans, intentions or goals, and any altercation of approaching operating or banking performance. These advanced statements are included in assorted sections of this advice and the words “may,” “will,” “believe,” “should,” “could,” “plan,” “expect,” “anticipate,” “estimate,” and agnate expressions (and variations thereof) are advised to analyze advanced statements. Advanced statements included in this absolution concern, amid added things, the allowances of the Federal-Mogul acquisition; the accumulated company’s plans, objectives and expectations; approaching banking and operating results; and added statements that are not absolute facts. Advanced statements are accountable to a cardinal of risks and uncertainties that could account absolute after-effects to materially alter from those declared in the advanced statements, including the aftereffect of any acknowledged proceeding that may be instituted adjoin Tenneco and others afterward the advertisement of the transaction; the achievability that the accumulated aggregation may not complete the aftereffect of the Aftermarket & Ride Achievement business from the Powertrain Technology business (or accomplish some or all of the advancing allowances of such a spin-off); the achievability that the transaction may accept an adverse appulse on absolute arrange with Tenneco, including those accompanying to transition, accomplishment and accumulation casework and tax matters; the adeptness to absorb and appoint key cadre and beforehand relationships with customers, suppliers or added business partners; the accident that the allowances of the transaction, including synergies, may not be absolutely accomplished or may booty best to apprehend than expected; the accident that the transaction may not beforehand the accumulated company’s business strategy; the accident that the accumulated aggregation may acquaintance adversity amalgam all advisers or operations; the abeyant aberration of Tenneco management’s absorption consistent from the transaction; as able-bodied as the accident factors and cautionary statements included in Tenneco’s alternate and accepted letters (Forms 10-K, 10-Q and 8-K) filed from time to time with the SEC. Given these risks and uncertainties, investors should not abode disproportionate assurance on advanced statements as a anticipation of absolute results. Unless contrarily indicated, the advanced statements in this absolution are fabricated as of the date of this communication, and, except as appropriate by law, Tenneco does not undertake any obligation, and disclaims any obligation, to about acknowledge revisions or updates to any advanced statements.
View antecedent adaptation on businesswire.com:https://www.businesswire.com/news/home/20181010005964/en/
CONTACT: Tenneco Inc.
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING ENGINEERING AUTOMOTIVE AFTERMARKET OFF-ROAD TRUCKS & SUVS
SOURCE: Tenneco Inc.
Copyright Business Wire 2018.
PUB: 10/10/2018 04:45 PM/DISC: 10/10/2018 04:45 PM
Copyright Business Wire 2018.
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