LAKE FOREST, Ill. (June 6, 2008) — Tenneco Inc. said it has closed its multimillion-dollar deal with Delphi Automotive Systems L.L.C. that will give Tenneco ride control assets and a leasing agreement at Delphi's facility in Kettering, Ohio.
Tenneco said it will pay about $10 million for ride components inventory and $9 million for machinery and equipment. The company has acquired some manufacturing assets that will be used to expand its original equipment ride control business.