Tenneco, Inc.

Tenneco, Inc.

Tenneco, Inc.

Overview
Date Founded

1940

Headquarters

500 North Field Drive,Lake Forest, IL 60045-5202

Type of Company

Public

Employees (Worldwide)

81K

Industries

Auto Parts & Tires
Other Business & Consulting Services
Industrial Machinery & Manufacturing
Automobiles

Company Description

Tenneco, Inc. engages in the design, manufacture, and distribution of engineered products for both original equipment vehicle manufacturers and the repair and replacement markets. It operates through the following segments: North America Clean Air; North America Ride Performance; Europe, South America, and India Clean Air; Europe, South America, and India Ride Performance; Asia Pacific Clean Air; and Asia Pacific Ride Performance. Its brands include Monroe, Rancho, Clevite Elastomers, Marzocchi, Axios, Kinetic, and Fric-Rot for ride control products; and Walker, Fonos, DynoMax, Thrush, and Lukey for emission control products. The company was founded on April 1, 1940 and is headquartered in Lake Forest, IL.

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Executives & Employees

Director, Co-Chief Executive Officer & Chief Operating Officer

Co-Chief Executive Officer

Executive Director, Global Communications

Executive Director, Ride Performance Global Communications

Executive Director, Investor Relations

Executive Vice President Chief Financial Officer

Senior Vice President General Counsel & Corporate Secretary

Chief Marketing Officer & Senior Vice President

Senior Vice President Chief Technology Officer

Chief Information Officer & Senior Vice President

Board of Directors

Professional at Allergan Plc

Professor at Harvard University

Professional at Extra Space Storage Inc.

Co-Chief Executive Officer at Tenneco, Inc.

Professional at State Farm Mutual Automobile Insurance Company

Director, Co-Chief Executive Officer & Chief Operating Officer at Tenneco, Inc.

Chairman of the Board & Chief Executive Officer at NCI Building Systems, Inc.

Director & Chief Financial Officer at Icahn Enterprises LP

President at LG Chem Michigan, Inc.

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Tenneco, Inc.
Owners & Shareholders
Details Hidden

Icahn Associates Holding is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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FTAM uses both fundamental and quantitative research as methods of analysis for their investment strategies; however, their investment approach does not fall into either the traditional fundamental or quantitative categories. The firm believes that while stock markets are efficient most of the time, behavioral anomalies can arise under certain circumstances, resulting in exploitable mispricing opportunities. FTAM's strategies primarily invest in US listed companies and are a long only or a long/short strategy and may employ futures, ETFs and leverage. Their investment strategies include small-cap growth, small-cap value, small-cap core, behavioral small-cap equity, mid-cap value, micro-cap, low volatility behavioral equity market neutral and behavioral unconstrained equity.

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Towle & Co. employs a fundamental, deep value investment approach that seeks to achieve above-average capital appreciation. Their deep value investment strategy focuses on identifying and capitalizing on investments the stocks of publicly-traded companies that are undervalued relative to their underlying, intrinsic value. The firm seeks absolute value through investments in primarily small-cap and micro-cap stocks, typically with market-caps less than $2 billion. Towle & Co. tends to invest in the stocks of companies in the financial services, manufacturing, consumer products, retail, transportation and energy sectors. The firm does not invest in companies involved in tobacco, liquor or gaming. They invest mainly in the stocks of US companies. Towle & Co. maintains a low turnover rate.The firm's fundamental investment approach begins with a screen to identify companies with low price-to-book value, low p/e (current or potential) and low price-to-sales ratios.They often invest in companies operating in out-of-favor or consolidating industries that have stagnating or declining stocks prices. Companies should have total debt that is less than the shareholders' equity and possess a strong market position or technological leadership. Companies must also demonstrate the ability to prudently finance their on-going business activities. Towle & Co. seeks to invest in stocks that are selling at less than 6 times the total enterprise value to earnings before interest, taxes, depreciation and amortization expense.To determine upside potential and downside risk, the firm performs a financial evaluation that includes an analysis of historical and current profitability, liquidity, leverage and asset management. this analysis is followed by a review of industry prospects and the company's competitive position. Towle & Co. then projects the company's earnings power, cash flow generating capability and financial condition. They use the private market transaction values and profitability characteristics of comparable companies to determine a company's earnings potential over the next 3 years. To be included in a portfolio, a company's 3 year earnings potential must provide a minimum return on market value of 15%.Sell targets are established for each company in a portfolio. these targets usually represent a 50% to 100% increase from the market value at the time of the initial purchase. An estimate of a company's future earnings potential is determined by assigning a conservative multiple (8 to 13x) to the company's earnings potential in the third year. Sell targets are continuously monitored and are periodically adjusted as business and market conditions change. These period reviews may result in an upward or downward adjustment of the sell target or in the decision to sell the position.

Recent Transactions
Details Hidden

Tenneco, Inc. purchases Öhlins Racing AB

Details Hidden

Tenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Details Hidden

Tenneco, Inc. purchases Federal-Mogul Goetze (India) Ltd.

Transaction Advisors
Legal Advisor

Advised onTenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Investment Advisor

Advised onTenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Investment Advisor

Advised onTenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Legal Advisor

Advised onTenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Legal Advisor

Advised onTenneco, Inc. purchases Federal-Mogul Holdings LLC from Icahn Enterprises LP

Advisors & Consultants
Advisor

Executive Vice President & Managing Director, Tenant Advisory Services Group at Transwestern Commercial Services LLC

Advisor

Professional at Musashi Seimitsu Industry Co., Ltd.

Legal Advisor

Partner at McGuireWoods LLP

Clients

Icahn Enterprises L.P. (NASDAQ: IEP), a master limited partnership, is a diversified holding company engaged in nine primary business segments: Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion. Icahn Enterprises L.P. is a Delaware master limited partnership

Navistar International Corp. is a holding company, which engages in the manufacture of military truck, proprietary diesel engines, school and commercial buses, and service parts for trucks and diesel engines. It operates through the following segments: Truck, Parts, Global Operations, and Financial Services. The Truck segment manufactures and distributes class four through eight trucks, buses, military and government vehicles under the International, and IC Bus (IC) brands, and produces engines under its proprietary brand name and parts required to support the military truck lines. The Parts segment offers a proprietary products needed to support the International commercial truck, IC Bus, proprietary engine lines, and export parts business, as well as its other product lines. The Global Operations segment comprises of Brazil engine operations which produce diesel engines under contract manufacturing arrangements. The Financial Services segment includes retail, wholesale, and lease financing of products sold by the truck and parts segments, and dealers within the United States, and Mexico. The company was founded in 1902 and is headquartered in Lisle, IL.

Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following three segments: Automotive, Mobility, and Ford Credit. The Automotive segment engages in developing, manufacturing, marketing and servicing of Ford cars, Lincoln vehicles. The Mobility segment includes Ford Smart Mobility LLC and autonomous vehicles business. The Ford Credit segment comprises Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

Key Stats and Financials As of 2018
Market Capitalization
$1.94B
Total Enterprise Value
$6.73B
Earnings Per Share
$0.94
Revenue
$11.8B
Net Profit
$55M
EBITDA
$890M
EBITDAMargin
7.57%
Total Debt
$5.49B
Total Equity
$2.05B
Enterprise Value Sales
0.57x
Enterprise Value EBITDAOperating
7.56x
TEVNet Income
122.34x
Debt TEV
0.82x
Non-Profit Donations & Grants
Investors
Details Hidden

Founder at Icahn Enterprises LP

Suppliers
Shiloh Industries, Inc. Tools & Hardware | Valley City, OH

Shiloh Industries, Inc. engages in lightweighting technologies that provide environmental and safety benefits to the mobility market. It operates through a single segment: Automotive and Commercial Vehicles. It designs and manufactures products within body structure and interior, chassis, and powertrain systems. The company was founded in 1950 and is headquartered in Valley City, OH.

Financial Engines, Inc. Accounting & Financial Services | Sunnyvale, CA

Financial Engines, Inc. engages in the provision of financial guidance. Its services include objective, fee-based advice and asset management. The company was founded by William F. Sharpe, Joseph A. Grundfest and Craig W. Johnson in 1996 and is headquartered in Sunnyvale, CA.

Senior Plc Auto Parts & Tires | Rickmansworth, HR

Senior Plc designs, manufactures and markets technology components and systems. The company operates its business through two divisions: Aerospace and Flexonics. The Aerospace division offers various products and systems for structures, fluid conveyance, and gas turbine engines. Its products include airframe and system components & assemblies; high-pressure and low-pressure engineered ducting systems; engineered control bellows, sensors and assemblies; fabricated engine components; and fluid systems ducting & control products. The Flexonics division manufactures flexible automotive components, and offers products for land vehicle emission control and industrial process control applications. This segment's products include exhaust gas recycling coolers, fuel mixing & distribution systems, flexible couplings, engineered expansion joints, dampers & diverters, flexible hose assemblies & control bellows, and fuel cells & heat exchangers. The company serves the aerospace, defense, land vehicle and energy markets. Senior was founded by David Lycett Green on December 18, 1933 and is headquartered in Rickmansworth, the United Kingdom.

Competitors
Meritor, Inc. Automobiles - Troy, Michigan

Meritor, Inc. engages in the design, production, and trade of integrated systems, modules, and components to original equipment manufacturers. It operates through the Commercial Truck and Trailer, and Aftermarket and Industrial segments. The Commercial Truck and Trailer segment supplies drivetrain systems and components, including axles, drivelines, and braking and suspension systems, primarily for medium- and heavy-duty trucks and other applications. The Aftermarket and Trailer segment provides axles, brakes, drivelines, suspension parts and other replacement parts to commercial vehicle and industrial aftermarket customers in North America and Europe. The company was founded in 1909 and is headquartered in Troy, MI.

Lear Corporation Auto Parts & Tires - Southfield, MI

Lear Corp. engages in the design, manufacture, and supply of automotive seat, electrical distribution systems, and electronic modules, as well as related sub-systems, components, and software. It operates through the Seating and E-Systems segments. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests. The E-System segment consists of the design, development, engineering and manufacture of complete electrical distribution systems that route electrical signals and manage electrical power within a vehicle and electronic control modules that facilitate signal, data, and power management within the vehicle. The company was founded in 1917 and is headquartered in Southfield, MI.

Cummins, Inc. Automobiles - Columbus, IN

Cummins, Inc. engages in the design, manufacture, sale and service of diesel and natural gas engines and powertrain-related technologies, including fuel systems, controls, air handing, filtration, emission, solutions and electrical power generation systems. It operates through the following segments: Engine, Distribution, Components and Power Generation. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Distribution segment consists of parts, engines, power generation and service, which service and distributes range of its products and services. The Components segment supplies products which complement its Engine and Power Systems segment, including after treatment systems, turbochargers, filtration products and fuel systems for commercial diesel applications. The Power Generation segment designs and manufactures most of the components that make up power generation systems, including controls, alternators, transfer switches and switchgear. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.

Awards & Honors
Rank #334
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #334
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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