Tenneco Acquires Öhlins for $160 Million (INR 1137 Crore)[/caption]
Tenneco Inc is a manufacturer and marketer of ride performance and clean air systems to be used by the automotive industry as well as owns major other companies dealing with emission control and exhaust systems. The new owners primarily owned Monroe and Rancho, the other famous suspension developers. Tenneco did worked with Öhlins few decades ago when the latter developed a Continuously Controlled Electronic Suspension valve (CES) technology for them.
Commenting on the new acquisition, Brian Kesseler, co-CEO, Tenneco stated: “Tenneco’s 20 year relationship with Öhlins has delivered world class products in the intelligent suspension market and provides a strategic entry into advanced performance communities with premium branded products and proprietary Continuously Controlled Electronic Suspension Valve (CES) technology. The Öhlins’ technology team will allow us to rapidly grow our product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets.”
Tenneco Acquires Öhlins for $160 Million (INR 1137 Crore)
Published: Thursday, 22 November 2018 0:00 AM | By Maxabout News | 457 Views
Ohlins Racing A.B. has been famous across the world for developing motorcycle suspension systems and some of the major brands of automotive industry rely on it ever since the Swedish company’s establishment in 1976. The company responsible for exporting 97% of its production to 50 countries across the world has just been sold to an American Giant Tenneco Inc, an Illinois-based automotive conglomerate. The founder Kenth Öhlin has sold his major shares to the Tenneco Inc for around $160 million (INR 1137 crore). Though, Kenth Öhlin after the acquisition will overlook the technical development and operations for the company and retain his minor stake in the company.
Commenting on selling the major shares, Kenth Öhlin, the founder Ohlins Racing A.B said: “We are excited to continue to deliver innovative technologies that can accelerate growth with the full strength and resources of Tenneco behind us.”
[caption id="attachment_323815" align="aligncenter" width="988"] Tenneco Acquires Öhlins for $160 Million (INR 1137 Crore)[/caption]
Tenneco Inc is a manufacturer and marketer of ride performance and clean air systems to be used by the automotive industry as well as owns major other companies dealing with emission control and exhaust systems. The new owners primarily owned Monroe and Rancho, the other famous suspension developers. Tenneco did worked with Öhlins few decades ago when the latter developed a Continuously Controlled Electronic Suspension valve (CES) technology for them.
Commenting on the new acquisition, Brian Kesseler, co-CEO, Tenneco stated: “Tenneco’s 20 year relationship with Öhlins has delivered world class products in the intelligent suspension market and provides a strategic entry into advanced performance communities with premium branded products and proprietary Continuously Controlled Electronic Suspension Valve (CES) technology. The Öhlins’ technology team will allow us to rapidly grow our product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets.”
Tenneco Acquires Öhlins for $160 Million (INR 1137 Crore)[/caption]
Tenneco Inc is a manufacturer and marketer of ride performance and clean air systems to be used by the automotive industry as well as owns major other companies dealing with emission control and exhaust systems. The new owners primarily owned Monroe and Rancho, the other famous suspension developers. Tenneco did worked with Öhlins few decades ago when the latter developed a Continuously Controlled Electronic Suspension valve (CES) technology for them.
Commenting on the new acquisition, Brian Kesseler, co-CEO, Tenneco stated: “Tenneco’s 20 year relationship with Öhlins has delivered world class products in the intelligent suspension market and provides a strategic entry into advanced performance communities with premium branded products and proprietary Continuously Controlled Electronic Suspension Valve (CES) technology. The Öhlins’ technology team will allow us to rapidly grow our product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets.”
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