EXHIBIT 99.1
news release [TENNECO AUTOMOTIVE LOGO]
For Immediate Release
Contacts: Margie Pazikas
Europe Media Relations
32 2 706 9470
margie.pazikas@eu.tenneco-automotive.com
Jane Ostrander
Media Relations
847 482-5607
jane.ostrander@tenneco-automotive.com
Leslie Hunziker
Investor Relations
847 482-5042
leslie.hunziker@tenneco-automotive.com
TENNECO AUTOMOTIVE FUELS GROWTH WITH INCREMENTAL NEW BUSINESS ON LUXURY VEHICLES
Company Chosen by DaimlerChrysler as Supplier for Mercedes-Benz Passenger Cars
Lake Forest, Illinois, August 18, 2003 - Tenneco Automotive (NYSE: TEN)
announced today that DaimlerChrysler AG has chosen the company as a supplier of
advanced emission control systems. The company will develop and produce
converter cannings and produce diesel particulate filters for specified
passenger cars of the Mercedes-Benz brand.
"We are very proud to supply the DaimlerChrysler business and to be recognized
for our advanced technology and full system exhaust capabilities," said Mark P.
Frissora, chairman and CEO, Tenneco Automotive. "We are growing
-More-
our global book of business by offering leading-edge technologies that help our
customers meet more stringent emission regulations with improved emission
control performance."
Tenneco Automotive first began production of diesel particulate filter
technology in 2000 in conjunction with PSA for its Citroen C5 and Peugeot 406
diesel passenger vehicles. The company is currently developing the next
generation of this technology with PSA and a number of other OEMs.
The company is a world leader in converter technology and offers OEMs a wide
range of designs, from conventional clamshell converters to the more advanced
ultra thinwall substrate catalytic converters. The ultra thinwall substrate
catalytic converters were first introduced on the mid-model year 2002 S-type
Jaguar and the 2003 model year XJ sedan.
Development and manufacturing will be handled by Tenneco Automotive Gillet at
its facility in Edenkoben, Germany.
Tenneco Automotive is a $3.5 billion manufacturing company with headquarters in
Lake Forest, Illinois and approximately 19,600 employees worldwide. Tenneco
Automotive is one of the world's largest producers and marketers of ride control
and exhaust systems and products, which are sold under the Monroe(R) and
Walker(R) global brand names. Among its products are Sensa-Trac(R) and Monroe
Reflex(R) shocks and struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(R)
mufflers and DynoMax(R) performance exhaust products, and Monroe(R) Clevite(R)
vibration control components.
This press release contains forward-looking statements regarding the company's
anticipated development and production of emissions control products and systems
for a customer. Words such as "will," "is developing" and similar expressions
identify these 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 and actual results could differ materially. For example,
realization of future sales from awarded business is inherently subject to risks
and uncertainties regarding, among other things, the number of vehicles that the
company's customers actually produce, the timing of that production and the mix
of options that the company's customers choose. In addition, the company's
customers generally have the right to replace the company (or its subsidiaries)
with another supplier at any time for a variety of reasons and have increasingly
demanded price decreases over the life of awarded business. Other factors that
could cause the company's plans and results to differ materially from current
expectations are described in the company's annual report on Form 10-K for the
year ended December 31, 2002, to which you are referred for additional
information. 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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