(Source: Datamonitor)
Tenneco, a US-based manufacturer of automotive emission control and ride control systems, has formed a new joint venture with the Beijing Hainachuan Automotive Parts Company to produce vehicle emission control exhaust systems for the Chinese market.
Tenneco will serve as the majority owner with a 51% equity stake and the Beijing Hainachuan Automotive Parts Company (BHAP) will own the remaining 49%. Initially, the new joint venture will supply emission control systems for Beijing Hyundai starting in 2010.
Tenneco also intends to establish an emission control manufacturing presence later in 2009 in Guangzhou to support new business with Nissan. Tenneco has said that its new joint venture with BHAP represents its sixth joint venture, all majority-owned, in China.
Gregg Sherrill, chairman and CEO of Tenneco, said: "The new joint venture partnership in Beijing and our expansion into Guangzhou will strengthen our position as the leading emission control supplier in China, as well as further diversify our customer mix in China while building our global business with Japanese and Korean manufacturers."
A service of YellowBrix, Inc.
