Tenneco´s 2nd quarter earnings to take hit from weak aftermarket

LAKE FOREST, Ill. (June 29)—Tenneco Automotive said it expects its second quarter earnings to come in lower than consensus analysts´ estimates because of weakness in the North American and European automotive aftermarkets and margin pressure in its North American original equipment business. The suspension products maker said its global aftermarket sales likely will be 6 percent less than second quarter 1999 when it reports its earnings July 27. Slower sales in its heavy-duty elastomer business and a mix shift to lower margin exhaust platforms launched earlier this year are resulting in OE margin pressure.