Tenneco to Launch Aftermarket & Ride Performance Co.
In the second half of this year, Tenneco Inc. will introduce DRiV™ Incorporated—the name of their publicly traded Aftermarket and Ride Performance company. DRiV™ will be ‘one of the largest global multi-line, multi-brand aftermarket suppliers and one of the largest global original equipment (OE) ride performance and braking suppliers to aftermarket, light vehicle, and commercial vehicle customers.’
“It is a landmark day, now that we are able to announce the future company’s name and identity,” said Brian Kesseler, Co-CEO, Tenneco and future Chairman and CEO, DRiV. “DRiV will be a unique new business, built from the combined strengths of Tenneco, Federal-Mogul and Öhlins – laser-focused on innovation, performance, brand development and customer service. Our global scale, our stable of well-respected and enduring aftermarket brands and our longtime partnerships with the world’s leading original equipment manufacturers give us a significant competitive advantage. We are strategically positioned to capitalize on secular trends such as the expansion of vehicles in operation globally, as well as growth in intelligent suspension, new mobility models and the evolution of autonomous driving.”
The name DRiV represents what the new company expects to be—a global leader in the aftermarket and OE businesses.
‘Motorparts’ is to be DRiV’s aftermarket business and will develop, manufacture and distribute a broad range of products in the global aftermarket. ‘Ride Performance’ is the OE business advancing, manufacturing and supplying equipment manufacturers around the globe with shock absorbers, struts, NVH performance materials and brake friction.