LAKE FOREST, Ill., June 29, 2020 /PRNewswire/ -- Tenneco Inc.'s
(NYSE:TEN) Powertrain business group was named a GM Supplier of the
Year by General Motors during a virtual ceremony honoring the
recipients of the company's 28th annual Supplier of the Year awards
on Wednesday, June 24, 2020.
During the event, GM recognized 116 of its best suppliers from
15 countries that have consistently exceeded GM's expectations,
created outstanding value or introduced innovations to the company.
The awards ceremony was originally scheduled as a live-event to be
held in March but was postponed due to the impact of the COVID-19
pandemic. The recognition is for supplier performance in the 2019
calendar year.
This is the third consecutive year that a Tenneco business group
has been honored and the second time Tenneco's Powertrain business
group has received the award.
"Our suppliers play a key role in delivering the products,
services and experiences our customers deserve – and these
award-winning suppliers went above and beyond our expectations,"
said Shilpan Amin, GM vice
president, Global Purchasing and Supply Chain.
"We also believe it's important at this point in time to thank
our entire supply base for their efforts the last few months to
mitigate the impacts of COVID-19," added Amin. "Not only have we
been able to safely restart our manufacturing operations, our
suppliers played a key role in assisting our initiatives to
increase the supply of ventilators and personal protection
equipment (PPE) for frontline health care workers to help save
lives and keep communities safe."
The Supplier of the Year award winners were chosen by a global
team of GM purchasing, engineering, quality, manufacturing and
logistics executives. Winners were selected based on performance
criteria in Product Purchasing, Global Purchasing and Manufacturing
Services, Customer Care and Aftersales, and Logistics.
"Tenneco is honored to be named a recipient of this prestigious
award from one of our most trusted industry partners, General
Motors, and it is truly a testament to our 32,000 Powertrain team
members around the world, who strive to produce quality powertrain
components every day," said Brian
Kesseler, CEO of Tenneco. "This award reinforces Tenneco
Powertrain's strong position in the global market for highly
engineered engine components and highlights our commitment to
global customers to develop innovations that deliver optimal fuel
economy, meet and exceed the most stringent emission targets, and
enhance vehicle performance."
About Tenneco
Headquartered in Lake Forest,
Illinois, Tenneco is one of the world's leading designers,
manufacturers and marketers of Aftermarket, Ride Performance, Clean
Air and Powertrain products and technology solutions for
diversified markets, including light vehicle, commercial truck,
off-highway, industrial and the aftermarket, with 2019 revenues of
$17.45 billion and approximately
78,000 employees worldwide. On October 1,
2018, Tenneco completed the acquisition of Federal-Mogul, a
leading global supplier to original equipment manufacturers and the
aftermarket. In the future, the company expects to separate
its divisions to form two independent companies: DRiV, an
Aftermarket and Ride Performance company, and a Powertrain
Technology company consisting of the Powertrain and Clean Air
business groups.
Safe Harbor
This release contains forward-looking statements. These
forward-looking statements include, among others, statements
relating to our execution of objectives and plans to separate into
two independent companies. Forward-looking statements are subject
to a number of risks and uncertainties that could cause actual
results to materially differ from those described in the
forward-looking statements, including the course of the COVID-19
pandemic and its impact on general economic, business and market
conditions, our ability (or inability) to execute on our plans to
respond to the COVID-19 pandemic and our previously announced
Accelerate plan and to realize the anticipated benefits of these
actions, our financial flexibility in addressing the impact of the
COVID-19 pandemic, our ability to maintain compliance with the
agreements governing our indebtedness and otherwise have sufficient
liquidity through the COVID-19 pandemic, the possibility that
Tenneco may not complete the separation of the Aftermarket &
Ride Performance business from the Powertrain Technology business
(or achieve some or all of the anticipated benefits of such a
separation); the possibility that the separation may have an
adverse impact on existing arrangements with Tenneco, including
those related to transition, manufacturing and supply services and
tax matters; the ability to retain and hire key personnel and
maintain relationships with customers, suppliers or other business
partners; the risk that the benefits of the separation may not be
fully realized or may take longer to realize than expected; the
risk that the separation may not advance Tenneco's business
strategy; the potential diversion of Tenneco management's attention
resulting from the separation; as well as the risk factors and
cautionary statements included in Tenneco's periodic and current
reports (Forms 10-K, 10-Q and 8-K) filed from time to time with the
SEC. Given these risks and uncertainties, investors should not
place undue reliance on forward-looking statements as a prediction
of actual results. Unless otherwise indicated, the forward-looking
statements in this release are made as of the date of this
communication, and, except as required by law, Tenneco does not
undertake any obligation, and disclaims any obligation, to publicly
disclose revisions or updates to any forward-looking statements.
Additional information regarding these risk factors and
uncertainties is detailed from time to time in the company's SEC
filings, including but not limited to its annual report on Form
10-K for the year ended December 31,
2019 and quarterly report on Form 10-Q for the quarter ended
March 31,
2020.
CONTACT
Steve Blow
Executive Director, Global Corporate Communications
+1 517-262-0655
sblow@tenneco.com
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SOURCE Tenneco Inc.