Tenneco and Yarnapund Co. Ltd. Form Joint Venture in
Thailand
Companies Will Work Together to Supply Exhaust Systems to Global OE Customer
LAKE FOREST, Ill., Aug. 28 Tenneco Automotive
announced today that the company has formed a joint venture with Yarnapund Co.
Ltd., a Thai exhaust system manufacturer. The joint venture company, Walker
Exhaust Thailand Co. Ltd., will supply exhaust systems for the ISUZU I190
platform, a light pick-up truck. Production of the vehicle in Thailand is
scheduled to begin in 2002.
"We are pleased to announce our joint venture with Yarnapund as we
continue to look for opportunities to better serve our customers worldwide,"
said Tim Donovan, senior vice president and managing director, Tenneco
Automotive international group. "This relationship is another example of the
success we're having in growing our business globally through strategic
alliances, joint ventures, and other collaborative relationships."
Walker Exhaust Thailand Co. Ltd. will be located at an existing Yarnapund
facility in Bangkok, Thailand. The joint venture will be responsible for the
final assembly of exhaust systems, with parts manufactured locally by
Yarnapund and imported from Tenneco Automotive. Tenneco Automotive is already
collaborating with Yarnapund through a licensing agreement to produce exhaust
systems for the GM T600 platform (General Motor's Opel Zafira platform)
manufactured in Thailand.
Tenneco Automotive continues to strengthen and grow its core businesses by
developing and leveraging strategic alliances and joint venture relationships.
Less than one year ago, the company formed a global strategic alliance with
Futaba Industrial Co., Japan's leading exhaust component supplier. The two
companies also formed a joint venture at Burnley, England. Recently, Tenneco
Automotive finalized a strategic alliance with Tokico Ltd., Japan's leading
ride control system supplier. The two companies have already secured
contracts to supply shocks and struts on several Japan-based global vehicle
platforms.
Tenneco Automotive is a $3.5 billion manufacturing company with
headquarters in Lake Forest, Illinois and 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
Monroe(R) 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.