Tenneco Automotive and Siemens Automotive S.A. Agree to Cooperate in Development
7 January 1999
Tenneco Automotive and Siemens Automotive S.A. Agree to Cooperate in Development of Advanced Ride Control and Suspension Technologies
LAKE FOREST, Ill.--January 7, 1999--Tenneco Automotive and Siemens Automotive S.A., today announced an agreement to cooperate in the design, development and commercialization of advanced electronically controlled, ride control systems. The agreement brings together Siemens' electronic systems expertise and Tenneco Automotive's advanced ride control technology to develop multi-function, electronically controlled suspension systems that can be used across a broad range of passenger vehicles.
"We believe the combined technologies of Siemens and Tenneco Automotive are ideally suited to the development of viable advanced suspension systems capable of managing the entire range of vehicle dynamics," said Thomas E. Evans, president of Tenneco Automotive. "What's more, the global capabilities of both companies can assure that such systems are both commercially practical and cost effective for global applications," added Evans.
"This agreement brings together the automotive systems experience of two companies known worldwide for high quality and dependable products," said Juergen Goetz, general manager, Siemens Automotive's Chassis and Passenger Safety Electronics Division.
Siemens Automotive is a tier-one supplier of automotive electrical-electronic components and systems with sales in excess of $3 billion. Siemens Automotive, with its North American headquarters in Auburn Hills, Mich., is part of Siemens AG, one of the largest electrical-electronic engineering companies in the world. Generating sales of more than $66 billion in 1997, Siemens AG employs 416,000 people worldwide.
Tenneco Automotive, headquartered in Lake Forest, Ill., manufactures the world's leading ride control and exhaust management products and systems under the global brand names of Monroe(R) ride control and Walker(R) exhaust. With sales revenue of more than $3 billion, the company operates 74 facilities in 22 countries in North America, Europe, Africa, South America, Australia and the Asia Pacific Rim region. Tenneco Automotive's parent company, Tenneco , is an $8 billion global manufacturing company based in Greenwich, Conn.