Tenneco Automotive Signs Licensing Agreement With Draftex S.A. France

20 May 1999

Tenneco Automotive Signs Licensing Agreement With Draftex S.A. France to Manufacture and Sell Elastomeric Products in South America and Mexico

    LAKE FOREST, Ill.--May 20, 1999--Tenneco Automotive has announced the signing of a licensing agreement with Draftex S.A. of France, an affiliate of the Laird Group Plc of the United Kingdom, to manufacture and sell elastomeric products throughout South America and Mexico. The agreement will add new elastomeric products and technologies to Tenneco Automotive's existing Axios elastomeric product portfolio in the region.
    "This agreement adds significantly to Tenneco Automotive's ability to serve customer needs in South America and Mexico," said Mark P. Frissora, president of Tenneco Automotive. "The agreement provides us with access to new technologies and business while providing for future growth on global vehicle platforms."
    Initial new business resulting from the agreement will include the production of patented hydraulic engine mounts and a variety of non-hydraulic elastomer products for customers in Brazil. The agreement also offers considerable potential to extend these technologies to other original equipment manufacturers in South America. "Estimated new business could add as much as $2 million to $4 million of incremental revenue for the company by 2003," said Carl Swanson, managing director for Tenneco Automotive South America.
    Until the separation of its businesses, Tenneco is a $6 billion manufacturing company headquartered in Greenwich, Conn., with 40,000 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust management systems and products, which are sold under the Monroe(R) and Walker(R) global brand names. Among its products are Sensa-Trac(R) 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. Tenneco Packaging is among the world's leading and most diversified packaging companies. Among its products are Hefty(R) trash bags, Hefty OneZip(R) and Baggies(R) food storage bags, E-Z Foil(R) single-use aluminum cookware and Hexacomb(R) paper honeycomb products.