Tenneco Automotive Expands Presence in Eastern Europe
Gliwice, Poland (ots)
Company strengthens ride control engineering capability with new manufacturing site in Poland. Tenneco Automotive officially opened today a new ride control manufacturing facility in Gliwice, Poland, which will supply shock absorbers to European-based vehicle manufacturers..
The Tenneco Automotive Europe's Ride Control business unit acquired, and refurbished the facility at Gliwice as a part of its strategy to broaden the company's presence in Eastern Europe. "This $20 million investment marks an important stage in the expansion of Tenneco Automotive' in Eastern Europe," said Josep Fornos, general manager Europe original equipment ride control. "This new facility will add capacity as we project further growth in the ride control business across Europe."
"In addition to manufacturing capacity, the combined success of our Western and Eastern European product development and engineering capabilities are key to Tenneco Automotive's success in meeting our customers' ride control needs as well as future expectations." Fornos added. Low labour and operating costs and the investment conditions offered by the Katowice Special Economic Zone were factors in the company's decision to open a facility in Poland. In addition, Polan has a motivated and highly educated labour pool that will allow Tenneco Automotive Europe to expand its manufacturing and engineering capacity and position the company for future growth.
The 21,000 square meter facility is expected to manufacture 6.0 million units per year by 2005 and will employ approximately 120 employees by the end of this year.
Tenneco Automotive is committed to the automotive market in Poland that has very dynamic growth. "We are convinced that this investment will allow us to increase our share of the fast growing Eastern European market, said Hari Nair, executive vice president and managing director, Tenneco Automotive Europe. "Furthermore, it will undoubtedly and significantly strengthen the competitive position of the company as one of the top tier suppliers of ride control systems and components."
Tenneco Automotive is a $3.5 billion manufacturing company headquartered in Lake Forest, Ill. (USA), with 23,000 employees worldwide. Tenneco Automotive is one of the world's largest producers and marketers of ride control and exhaust systems and products, which are sold under the Monroe(R), Walker(R) and Gillet(R) global brand names.
Kontakt:
Tenneco Automotive Europe
Peter Dercon
PR Manager
phone +32 2 706 9241
fax +32 2 706 9259
E-Mail: peter.dercon@eu.tenneco-automotive.com