tenneco inc (TEN) Key Developments
Tenneco to Showcase Global Clean Air and Ride Performance Solutions at the 2015 Frankfurt Motor Show
Aug 28 15
Tenneco will showcase its innovative Clean Air and Ride Performance solutions designed to meet global automakers' demand for products that reduce emissions and improve fuel efficiency and vehicle performance at the 2015 Frankfurt Motor Show from September 17 - 27, 2015. Tenneco's lightweight clean air technologies help to reduce fuel consumption, which drives CO2 emissions reduction. Mixing Technologies: Tenneco's custom-engineered mixing components ensure consistent performance of liquid urea selective catalytic reduction after treatment in diesel engine exhaust systems. The company will debut its latest family of mixing solutions designed to support SCR-coated diesel particulate filter applications, where SCR catalyst and particulate filtration is combined into one component, responding to the need for lightweight, compact packaging of the vehicle's after treatment system. Tenneco's mixing technologies also support real driving emissions standards and serve as enablers for current and future emissions regulations. Gasoline Particulate Filter: Tenneco has leveraged its expertise in diesel particulate filter technology with the development of its gasoline particulate filters, designed for gasoline direct injection engines to reduce particulate emissions in compliance with the Euro 6c emissions regulation. GPFs use the same type of wall-flow substrates as diesel particulate filters and can be included in the exhaust system in addition to the series three-way catalyst, or the catalyst coating can be directly applied to the filter substrate to form a four-way catalyst. Tenneco has successfully adapted its canning technology to accommodate these highly porous, fragile substrates and will showcase its all-new oval-shaped GPF at the IAA. Electronic Modular Valves: Tenneco's latest generation of electronic backpressure variable control valves are designed to support low pressure exhaust gas recirculation for diesel engines and acoustic tuning for gasoline engines, providing precise and dynamic flap control to generate the optimal pressure conditions. Tenneco's latest generation valve features a modular design with a flexible actuator orientation that can be customized on demand to support specific customer needs, such as packaging requirements and exhaust temperature specifications up to 750-degreeC. The valve can be adapted to meet any engine architecture. Ride Performance Solutions that Drive Greater Vehicle Performance and Improve the Driver Experience Tenneco will showcase its Monroe Intelligent Suspension portfolio at the Motor Show. The Monroe Intelligent Suspension portfolio of technologies includes adaptive suspension solutions; semi-active solutions; and fully active suspension solutions, all of which are designed to fit a range of vehicle applications. The company will also highlight two Monroe Intelligent Suspension technologies that are launching in series production: CVSA2 is Tenneco's newest generation of continuously variable semi-active suspension damping technology for premium luxury cars and sports cars. It offers significant improvements in ride performance from single valve technology, as each damper features two independent electro-hydraulic valves for both the rebound and compression motions. This enables an increased tuning range for even greater vehicle dynamics and higher comfort levels. Dual Mode is an adaptive suspension solution for small and medium vehicle segments, offering drivers a choice of two suspension modes, a feature previously only available to the large and luxury vehicle segments. The system features four electronically controlled dampers, which the driver can switch between damping for improved comfort, or firmer damping for a sportier ride directly from the dashboard. Elastomer Technologies: Tenneco's Clevite Elastomer Group provides custom vibration control design, engineering and manufacturing solutions for OEMs by tuning vehicle characteristics in tandem with system requirements, enabling greater vehicle performance. Damper top mounts feature both an elastomer element to allow damper articulation/isolation and a structural element, which provides attachment to the vehicle body. Tenneco offers both integration of economical aluminum die castings and steel stamped designs to offer OEMs maximum flexibility. Exhaust system isolators offer full-vehicle life durability with very low mass. Tenneco's patented 'Shear Hub' isolator geometry provides excellent vibration isolation combined with robust limit travel control. By controlling and leveraging the isolator as a fully engineered part, Tenneco's innovative design helps OEMs achieve both stringent performance requirements and long system life.
Tenneco Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Production and Revenue Guidance for the Third Quarter and Full Year of 2015
Jul 24 15
Tenneco Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company posted total net sales and operating revenues of $2,130 million against $2,241 million a year ago. Earnings before interest expense, income taxes, and non controlling interests were $155 million against $156 million a year ago. Earnings before income taxes and non controlling interests were $138 million against $137 million a year ago. Net income attributable to the company was $78 million or $1.26 diluted per share against $81 million or $1.32 diluted per share a year ago. Net cash provided by operating activities was $132 million against $114 million a year ago. Cash payments for plant, property & equipment were $73 million against $84 million a year ago. Cash payments for software-related intangible assets were $3 million against $2 million a year ago.
For the six months, the company posted total net sales and operating revenues of $4,153 million against $4,335 million a year ago. Earnings before interest expense, income taxes, and non controlling interests were $275 million against $269 million a year ago. Earnings before income taxes and non controlling interests were $242 million against $231 million a year ago. Net income attributable to the company was $127 million or $2.06 diluted per share. Net cash used in operating activities was $82 million against $26 million a year ago. Cash payments for plant, property & equipment were $150 million against $167 million a year ago. Cash payments for software-related intangible assets were $8 million against $9 million a year ago.
For the third quarter 2015, global light vehicle industry production is expected to increase 4% in the regions where Tenneco operates. Excluding currency, the company anticipates total revenue growth of about 6%. Based on current exchange rates, the company anticipates a currency headwind of approximately 7%.
For the full year, the company expected revenue growth of 5%, excluding currency, within the company’s original range. The company expected that capital expenditures will be between $300 million and $320 million in 2015. The company expected cash taxes in the range of $150 million to $175 million in 2015.
Tenneco Inc. Intends to Discontinue Marzocchi Suspension Business
Jul 22 15
Tenneco Inc. announced that its intention to discontinue its Marzocchi motor bike fork suspension business and its mountain bike business, and liquidate its Marzocchi operations. These actions are subject to a consultation process with the employee representatives and in total would eliminate approximately 138 jobs. Tenneco intends to assist its motor bike customers with the transition of current production to an alternative supplier and expects to complete the closure by the end of 2015.
Jaguar Land Rover Chooses Tenneco Inc.'s High-Performance Suspension Technology for All-New XE Sports Sedan
Jul 9 15
Tenneco Inc. announced that Jaguar Land Rover has chosen Tenneco’s high-performance suspension technology for its all-new XE sports sedan. The vehicle’s lightweight, high-pressure gas monotube shock absorbers offer vehicle stability and handling as a result of valve technology. The special design provides more mounting options, higher potential damping levels and a better response compared with twin tube shocks.
Tenneco Inc. Presents at Susquehanna Energy and Industrials Conference, Jun-11-2015
Jun 10 15
Tenneco Inc. Presents at Susquehanna Energy and Industrials Conference, Jun-11-2015 . Venue: Le Parker Meridien Hotel, 119 West 56th Street, New York, NY 10019, United States.