Key Developments: Tenneco Inc (TEN.N)

TEN.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

TenneCo Inc announces share repurchase program
Thursday, 16 Jan 2014 07:00am EST 

TenneCo Inc:Says the board approves a share repurchase program, authorizing the repurchase of up to 400,000 shares of the company's outstanding common stock over the next 12 months.The repurchase program is intended to offset dilution from shares of restricted stock and stock options that were issued to employees in 2014 under Tenneco's long-term compensation plan.  Full Article

TenneCo Inc to Buy 20% Equity Interest in Tenneco Tongtai (Dalian) Exhaust System - Reuters
Wednesday, 18 Sep 2013 08:00pm EDT 

Reuters reported that TenneCo Inc has entered into agreement to buy 20% equity interest in Tenneco Tongtai (Dalian) Exhaust System Co., Ltd. (TTEC) for approximately USD 69 million, and as a result of this purchase, TTEC will become a wholly owned direct subsidiary of TenneCo In. TTEC is a joint venture of the Company in Dalian, China.  Full Article

TenneCo Inc Announces Intention To Close Ride Performance Plant In Gijon, Spain & Decomplex Ride Performance Plant In Sint-truiden, Belgium; Elimination Of Jobs; Comments On Q3 2013 Charge Outlook
Thursday, 5 Sep 2013 04:10am EDT 

TenneCo Inc announced its intention to close its ride performance plant in Gijon, Spain and decomplex its ride performance plant in Sint-Truiden, Belgium as the Company continues to take actions to address ongoing weak macroeconomic conditions in Europe. Both plants manufacture shock absorbers for vehicle manufacturers and the replacement market. The actions announced are subject to consultation with employee works councils and in total would eliminate approximately 480 jobs in Western Europe while allowing the most efficient use of the Company`s capital assets and production capacity across the region. Tenneco currently employs 230 people at the Gijon plant. The Company intends to begin transferring current customer business to other ride performance operations and intends to complete the closure in the first quarter of 2014. Tenneco expects to record charges of $63 million related to these actions, of which $55 million will be recorded in the third quarter of 2013. These charges include non-cash asset impairments, the cost of relocating tooling, equipment and production to other facilities, severance and retention payments to employees and other costs related to these actions.  Full Article

TenneCo Inc Comments On FY, Q1 2013 Revenue Guidance; Issues FY 2017 Revenue Guidance-Conference Call
Wednesday, 27 Mar 2013 05:30pm EDT 

TenneCo Inc announced that it expected fiscal 2013 shaping up as overall a good year, just with the first quarter being relatively tough. Total revenue in the first quarter 2013 would be slightly down year-over-year; but overall, throughout the year, the Company should certainly see revenue growth on a full-year basis. The Company going forward expects up to about a $10 billion revenue line in fiscal 2017. The Company reported revenues of $1.912 billion in the first quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.814 billion for the first quarter of 2013 and revenues of $7.743 billion in fiscal 2013.  Full Article

TenneCo Inc Issues Q1 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Thursday, 31 Jan 2013 02:00pm EST 

TenneCo Inc announced that it anticipates total revenue for the first quarter of 2013 will be down slightly year-over-year. The Company reported revenues of $1.912 billion in the first quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.966 billion for the first quarter of 2013.  Full Article

TenneCo Inc Announces Share Repurchase Program
Thursday, 17 Jan 2013 04:53pm EST 

TenneCo Inc announced that board of directors has approved a share repurchase program, authorizing the repurchase of up to 550,000 shares of the Company`s outstanding common stock over the next 12 months. The repurchase program is intended to offset dilution from shares of restricted stock and stock options that were issued to employees in 2013 under Tenneco`s long-term compensation plan. Tenneco has completed similar repurchases of common stock in 2011 and 2012 while remaining committed to further improving its financial position and investing in strategic initiatives.  Full Article

TenneCo Inc And Cormetech Inc Sign Joint Development Agreement
Thursday, 6 Dec 2012 08:00am EST 

TenneCo Inc and Cormetech Inc. announced that they have signed a joint development agreement to collaborate on designing ultra-large diameter selective catalytic reduction (SCR) catalysts for marine engine applications. The MARPOL Annex VI and EPA Tier IV regulations require an 80% reduction in NOx emissions, thus driving the need for engines to include aftertreatment strategies such as SCR. Tenneco`s SCR solution, incorporating the Cormetech catalyst, will be designed to help the marine industry comply with the new emission regulations.  Full Article

TenneCo Inc Reaffirms Q4 2012 Revenue Gudiance-Conference Call
Tuesday, 4 Dec 2012 02:10pm EST 

TenneCo Inc announced that for the fourth quarter of 2012, it expects revenue again being roughly flat on a year-over-year basis. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $1.775 billion for the fourth quarter of 2012.  Full Article

TenneCo Inc Comments On Q4 2012 Revenue Guidance-Conference Call
Thursday, 8 Nov 2012 02:00pm EST 

TenneCo Inc announced that it expects to wind up the fourth quarter 2012 revenues essentially flat to third quarter revenues.  Full Article

DIARY-U.S. MEETINGS/WEEK AHEAD

THOMSON REUTERS, Apr 10,2014 - Corporate Meetings for US companies for Week ahead. S&P 500 Earnings - Weekly S&P 500 Earnings - Day Ahead Non S&P 500 - Weekly Non S&P 500 - Day Ahead ConferenceCall/Webcast - Weekly ConferenceCall/Webcast - Day S&P 500 Earnings - Monthly Meetings - Day Ahead Economic Indicators Dividends Daily earnings hits & misses Federal Rese

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