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DRiV Incorporated To Spin From Tenneco Later In 2019
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Tenneco Inc. has announced a new publicly traded aftermarket and ride performance company that will launch in the second half of 2019 following Tenneco’s split into two independent companies.
The new company, DRiV Incorporated, will serve as a global multi-line and multi-brand aftermarket supplier and original equipment (OE) performance and braking supplier.
DRiV will have headquarters in the greater Chicago area.
“It is a landmark day, now that we are able to announce the future company’s name and identity,” Tenneco Co-CEO Brian Kesseler said, who will also serve as the future chairman and CEO of DRiV. “DRiV will be a unique new business, a more than $6 billion start-up, built from the combined strengths of Tenneco, Federal-Mogul and Öhlins—laser-focused on innovation, performance, brand development and customer service.”
DRiV’s aftermarket business, which will be known as “Motorparts,” will develop, manufacture and distribute a portfolio of products in the global vehicle aftermarket. Through the acquisition of Federal-Mogul in 2018, its stable of brands includes Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, Axios and others.
For more information, visit the Tenneco website.
The new company, DRiV Incorporated, will serve as a global multi-line and multi-brand aftermarket supplier and original equipment (OE) performance and braking supplier.
DRiV will have headquarters in the greater Chicago area.
“It is a landmark day, now that we are able to announce the future company’s name and identity,” Tenneco Co-CEO Brian Kesseler said, who will also serve as the future chairman and CEO of DRiV. “DRiV will be a unique new business, a more than $6 billion start-up, built from the combined strengths of Tenneco, Federal-Mogul and Öhlins—laser-focused on innovation, performance, brand development and customer service.”
DRiV’s aftermarket business, which will be known as “Motorparts,” will develop, manufacture and distribute a portfolio of products in the global vehicle aftermarket. Through the acquisition of Federal-Mogul in 2018, its stable of brands includes Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, Axios and others.
For more information, visit the Tenneco website.
