The hottest Tenneco and FAW Sihuan set up a compan

Tenneco Inc. (New York Stock Exchange: ten) today announced that it has signed a joint venture agreement with Changchun FAW Sihuan Automobile Co., Ltd., a subsidiary of FAW Group, to supply exhaust control components and systems for passenger and commercial vehicles. The new joint venture will be located in Changchun

Gregg Sherrill, chairman and CEO of Tenneco, said: we are very happy to become a partner with FAW, China's leading light vehicle and commercial vehicle manufacturer. The new joint venture not only strengthens our leading position in exhaust control in the growing Chinese passenger car market, but also provides a broader way for us to enter the Chinese market, one of the world's largest commercial vehicle markets

there are three investors in the joint venture, Tenneco owns 41% equity, FAW Sihuan accounts for 49% equity, and Tenneco Tongtai (Dalian) exhaust system Co., Ltd. should pay attention to the company's 10% equity when selecting. Since tiannake owns 80% of the equity of tiannake Tongtai, the management control of the joint venture will be held by tiannake. FAW Volkswagen and FAW Jiefang will become the first customers of the enterprise

the new joint venture established by Tenneco and FAW Sihuan is its seventh joint venture in China, and these joint ventures are controlled by Tenneco. The company has exhaust control joint ventures in Shanghai, Dalian (2), Chongqing and Beijing, and a shock absorber joint venture in Beijing. In 2007, Tenneco opened the Shanghai exhaust control engineering center. The company also operates a wholly-owned rubber parts factory in Suzhou

Tenneco's original customers of light vehicles in China include Volkswagen, general motors, Ford, BMW, Audi, Nissan, Suzuki and tensile testing machines, which are now widely used in Hyundai, Peugeot Citroen, brilliance and Chery. The company's commercial vehicle engines and original customers include China National Heavy Duty Truck Group, Shangchai power and Weichai Power

Tenneco is a manufacturing company with a market value of $4.6 billion, headquartered in lake forest, Illinois, with about 21000 employees worldwide. Tenneco is the world's largest design, manufacturing and sales company of exhaust control and shock absorption products and systems, and its products are supplied to the original equipment market and after-sales market of automobiles. Tenneco's products are mainly sold under the brands of Monroe, Walker, Gillet and Clevite elastomer

this draft contains forward-looking statements. Forward looking statements can be identified by words such as will and other similar expressions. These forward-looking statements are based on the current expectations of the company (and its subsidiaries). Because only a certain understanding of it is too much, these forward-looking statements involve various risks and uncertainties, and the company's plans, actions and actual results may be significantly different from them. Factors that may affect these plans, actions and results to differ significantly from current expectations include: (1) the overall economic situation; (2) The production level of the automobile manufacturer and the changes of its actual and expected requirements for the company's products; (3) High competition in the auto parts industry as a whole; And (4) the periodicity of automobile sales and production. The company does not undertake the obligation to update the forward-looking experimental discovery statements to reflect events or circumstances after the date of publication of this draft