Tenneco Automotive Expands Presence in Eastern
Europe
Company Supports East-European Customers with New Plant in Poland
LAKE FOREST, Ill., March 15 Tenneco Automotive
announced today that it is expanding its presence in Eastern Europe with the
acquisition of a manufacturing facility in Gliwice, Poland to produce shock
absorbers for European-based vehicle manufacturers. The company anticipates
beginning manufacturing at the facility by the third quarter of 2001, after
refurbishing the site and installing new equipment.
Tenneco Automotive's long-term strategy is to expand its global
capabilities through niche acquisitions, joint ventures, and strategic
alliances. With the increasing globalization of the automotive industry, the
company is strategically expanding its operations in Eastern Europe and
emerging markets in order to take advantage of lower operating costs, and to
be better positioned to serve its original equipment customers in these
growing markets.
"This $20 million investment marks an important step in the expansion of
Tenneco Automotive's presence in Eastern Europe. This new facility will add
capacity as we project further growth in the ride control business across the
region," said Richard Sloan, managing director, Tenneco Automotive Europe.
"The decision to expand in Poland was based on lower labor and operating
costs, and highly attractive investment conditions offered by the Katowice
Special Economic Zone."
"We are convinced that this investment will allow us to increase our share
of the fast growing Eastern European market," said Josep Fornos,
vice-president and general manager of Tenneco Automotive Europe's original
equipment ride control unit. "Furthermore, it will undoubtedly and
significantly strengthen the competitive position of the company as one of the
top tier suppliers of ride control systems and components."
Gliwice is located in Southwest Poland, on the crossing of major
international transportation networks and near Tenneco Automotive's plant in
Rybnik, Poland, which serves the exhaust aftermarket.
Tenneco Automotive is a $3.5 billion manufacturing company headquartered
in Lake Forest, Ill., with 23,000 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 Reflex(TM) shocks and
struts, Rancho(R) shock absorbers, Walker(R) Quiet-Flow(TM) mufflers and
DynoMax(TM) performance exhaust products, and Monroe(R) Clevite(TM) vibration
control components.