Share price of Tenneco Inc. (TEN) increased 2.5% to $56.52 on Sep 24, after the company announced the inauguration of a new clean air research, development and manufacturing facility in China, to be located in Kunshan, near Shanghai. This plant will be engaged in the designing, developing and manufacturing of emission control products and technologies for the growing commercial truck business in China.
This clean air research facility spans across 10,200 square meters and employs 150 workers including 120 engineering and testing personnel. The company plans to employ another 400 heads after the plant is operational.
Tenneco also announced that the Kunshan facility will serve the commercial truck and off-highway equipment businesses throughout the Asia-Pacific region. Notably, this unit will function as the company’s center for designing and developing large engine solutions for marine, locomotive and stationary applications in Asia.
Tenneco believes that the Kunshan facility will set new standards for emission control engineering centers owing to its leading-edge engineering, testing and prototyping capabilities, together with the advanced mechatronics and systems integration laboratories. The company also revealed that the facility boasts robust system design and analysis, modeling, simulation control, acoustic analysis and predictive tools development, which involves CFD simulation, engine application development for locomotive, marine and stationary engines, and hardware and testing capabilities including two marine engine dynamometers.
Tenneco also intends to manufacture XNOx Selective Catalytic Reduction (SCR) technology in the Kunshan plant for commercial vehicle applications in China and the Asia Pacific. XNOx SCR helps lower costs and facilitates vehicle integration. It also conforms to the Euro V and China National Stage V regulations and provides an economical alternative to airless SCR.
Tenneco is a leading manufacturer and supplier of emission control and ride control systems for automotive original equipment manufacturers and the aftermarket. Currently, the company retains a Zacks Rank #2 (Buy).
Some well-performing automobile stocks worth considering include Allison Transmission Holdings, Inc. (ALSN), STRATTEC Security Corp. (STRT) and China Automotive Systems Inc. (CAAS). All these stocks sport a Zacks Rank #1 (Strong Buy).
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