Home » Tenneco Agrees to Buy Some of Delphi's Assets
Tenneco Agrees to Buy Some of Delphi's Assets
March 10, 2008
Lake Forest, IL-based Tenneco Inc. has agreed to buy certain ride control assets and inventory at Delphi Automotive Systems LLC's Kettering, OH facility. This purchase agreement has been filed with the bankruptcy court as part of Delphi's bankruptcy court proceedings.
As part of the purchase agreement, Tenneco would pay $10 million for existing ride control components inventory and $9 million for certain machinery and equipment. Tenneco would also lease a portion of the Kettering facility from Delphi.
Tenneco has also entered into a long-term supply agreement with General Motors Corporation to continue to supply passenger car shock and strut business to General Motors from the Kettering facility.
Tenneco is a $6.2 billion global manufacturing company. Tenneco markets its products principally under the Monroe®, Walker®, Gillet™ and Clevite®Elastomer brand names.