Tennessee Gas and Transmission Company (completely separate) had been formed in 1940.
The Tennessee division of the Chicago Corporation acquired Tennessee Gas Transmission Company in 1943 to build a natural-gas pipeline 1,265 miles (2,036 km) from Texas to West Virginia.
The first line was completed in October 1944.
Tenneco Inc.,, formerly (1947–66) Tennessee Gas And Transmission Company, diversified American industrial corporation, with major interests in natural-gas pipelines and the construction of heavy equipment.
Foster graduated from Texas A&M University in 1957 with a B.S. in petroleum engineering and B.B.A. in business administration; he joined Tenneco as a junior petroleum engineer in Oklahoma City the same year.
In 1961, Tenneco diversified into chemicals with the purchase of Heyden Newport Chemical Corp. and into paperboard and packaging material with the purchase of Packaging Corporation of America.
In 1966, Tennessee Gas was incorporated as Tenneco, Inc.
In 1967, the company acquired Walker, Inc., a manufacturer of universal-fit exhaust mufflers and pipes.
Management thwarted efforts by shareholders to split and sell the firm's several divisions in 1982.
In 1984, Case parent Tenneco bought selected assets of the International Harvester agriculture division and merged it with J.I. Case.
The farm machinery operations of Navistar were purchased and folded into the Case division in 1985.
All agriculture products are first labeled Case International and later Case IH. Tenneco purchased the articulated 4WD manufacturer Steiger Tractor in 1986, and merged it into Case IH.
In 1988 Tenneco sold off its considerable petroleum- and natural-gas-producing properties in order to concentrate on its diversified industrial operations.
By 1988, the company was losing $2 million per day.
In 1991, Tenneco posted record losses of $723 million.
The automotive division was spun off from Tenneco, Inc. in 1991 along with the packaging, energy, natural gas, and shipbuilding divisions.
The firm sold its products to nearly every original equipment manufacturer in the world, and its sales reached a record $2.94 billion, nearly double the total in 1992.
By 1994, Tenneco decided to begin getting out of the ag business and agreed to sell 35% of the now named Case Corporation.
To bolster its lucrative plastic packaging and consumer products operations, Tenneco paid $1.27 billion for the plastics division of Mobil Chemical Co. in 1995.
The following year, Tenneco divested its insurance arm to I.C.H. Corp. For example, Tenneco sold its Case farm machinery subsidiary in 1995.
However, the firm's divestment efforts continued when El Paso Energy Corp. acquired Tenneco Energy in 1996.
These pipelines were acquired by El Paso Corporation in 1996, and are now owned by Kinder Morgan.
In 1997 Tenneco Automotive held a 25 percent share of the global shocks and mufflers market.
sedgwick, david. "tenneco offspring expected to survive parent's breakup." automotive news, 27 july 1998.
The relationship between Tenneco and Öhlins actually began in 1998 when the two companies began working together to develop electronic valve technology for automotive applications.
In 1998, plans to merge with Tower Automotive Inc. fizzled.
Under the Walker and Monroe brand names, Tenneco Automotive manufactures Sensa-Trac and Reflex shocks and struts, Rancho shock absorbers, Walker Quiet Flow Mufflers (first introduced in 1998), DynoMax performance exhaust products, and Monroe Clevite vibration control components.
By 1998, the firm operated 67 plants, offices, or branches in 21 countries.
Tenneco’s history as a stand-alone entity began in 1999, when the current company emerged from a conglomerate formerly consisting of six businesses -- shipbuilding, packaging, farm and construction equipment, gas transmission, automotive and chemicals.
The split was completed in 1999, when Tenneco Automotive Inc. and Pactiv Corp. began trading as independent companies on the New York Stock Exchange.
Among the largest 150 North American automotive parts suppliers, Tenneco Automotive ranked 37th, according to Automotive News in 1999.
The company was acquired by Fiat in 1999 and merged with New Holland Agriculture to form CNH Global.
The newly independent firm has yet to achieve profitability. It posted a $423 million loss on sales of $3.27 billion in 1999.
sherefkin, robert. "caution flag; tenneco is lean and focused, but analysts warn of softening market." automotive news, 13 november 2000.
According to a March 2001 PR Newswire release, "Tenneco Automotive's long-term strategy is to expand its global capabilities through niche acquisitions, joint ventures, and strategic alliances.
Losses increased, however, in 2001 to $130 million as sales fell to $3.36 billion.
Although recessionary economic conditions were largely to blame for Tenneco Automotive's weak financial performance in 2001, the firm's 1.5 billion debt load, the highest in the industry, also posed problems.
A sluggish North American economy undercut revenues in 2001.
A surplus problem in North America prompted auto manufacturers to shut down assembly plants for days and, in some cases, weeks during the first quarter of 2001.
sherefkin, robert. "tenneco, lear post losses; both will close plants." automotive news, 4 february 2002.
Although automakers were able to maintain sales growth throughout the year with no-interest financing programs, many began slowing production in anticipation of reduced demand in 2002.
tenneco automotive inc. home page, 2002. available at http://www.tenneco-automotive.com.
In 2003, Tenneco and Öhlins jointly launched the first CES shock absorbers as standard equipment on the Volvo S60R performance car.
On October 28, 2005 Tenneco Automotive was renamed as Tenneco.
In 2005, the company rebranded its name to Tenneco, to better represent the expanding number of markets it served.
On October 1, 2018, Tenneco Inc. completed its acquisition of Federal-Mogul, a leading global supplier to original equipment manufacturers and the aftermarket.
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"Tenneco Automotive Inc. ." Company Profiles for Students. . Encyclopedia.com. (April 16, 2021). https://www.encyclopedia.com/economics/economics-magazines/tenneco-automotive-inc
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