LAKE FOREST, Ill. (March 26, 2014) — OE and aftermarket automotive supplier Tenneco Inc. confirmed March 25 that authorities in Europe and the U.S. have requested information from the company as part of an ongoing global antitrust investigation concerning multiple automotive suppliers.
Representatives of the European Commission were at Tenneco GmbH’s Edenkoben, Germany, administrative facility to gather information in connection with the investigation, according to the company. Tenneco said it also has received a related subpoena from the U.S. Department of Justice.
“The company is fully cooperating with the authorities and cannot comment further due to the ongoing investigation,” Tenneco said. “Tenneco’s values and Code of Conduct are foundational elements for how the company conducts business.
“All Tenneco employees are expected to exemplify these values and strictly adhere to the Code of Conduct, which requires operating in an ethical manner and according to all laws and regulations including practicing fair and open competition.”
The Lake Forest-based supplier did not provide any details about what the investigation involves.
Tenneco is an $8 billion global manufacturing company with approximately 26,000 employees worldwide. The company designs, manufactures and markets clean air and ride performance products and systems for automotive and commercial vehicle original equipment markets and the aftermarket under the principal brand names Monroe, Walker, XNOx and CleviteElastomer.
How have tire prices been in the last few months?
|They've gone up 1-5%||
|They've increased 6-10%||
|They've stayed flat||
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|They've gone down 6-10%||
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