Mark Frissora Quotes (7 Quotes)

Winning a PACE Award for the second consecutive year is a distinct honor and reinforces our commitment to delivering cutting-edge technology in products that provide our customers with cost-effective improvements in environmental and safety performance.

Our solid fourth quarter performance reflects our ongoing ability to execute consistent strategies for generating top-line growth, controlling costs and improving operational efficiency. We were successful in delivering a strong cash quarter as a result of our sharp focus on working capital improvements, particularly in accounts receivables and inventory reduction.

Our new engineering center is key to our success in China. It enables us to locally support our customers with technical expertise, engineering and testing while saving time and costs, and strengthening communications. Additionally, we'll be able to localize global programs more efficiently and evolve to meet our customers' needs for a greater range of products and technologies.

I am very pleased to announce Ken's promotion to executive vice president, which reflects his outstanding leadership and performance in a very critical role for Tenneco. Ken leads our global finance organization with sound judgment, exceptional knowledge and strong experience in all areas of finance. He has successfully driven our ongoing efforts to de-leverage the company and improve financial flexibility, our number one goal for Tenneco.

These expansions represent a significant portion of the estimated 21 million investment we intend to make in China over the next three years. One of Tenneco's key growth strategies is to expand in emerging markets and China is our greatest opportunity in this area.

The operating environment for automotive supply companies remains as challenging as ever with a lot of uncertainty in the North American markets. Our formula for success remains unchanged. We will continue focusing on those areas within our control, executing with discipline on the fundamentals and maintaining a relentless focus on controlling costs. We should also continue to benefit from our balance and diversification in terms of products, markets served and our customer base as well as from a strong new product and technology pipeline designed to help Tenneco win incremental OE and aftermarket business.

We have been actively involved in the diesel particulate filter business since the 1980's in Europe and went into high volume serial production on light vehicles in 2000. This win with International continues the growth of Tenneco's diesel particulate filter business, expected to be over 1.5 million units annually in 2007.