DRiV is going to spin from Tenneco later this year
DRiV is the name of the future aftermarket and ride performance company that will launch in the second half of this year, following Tenneco separation into two independent companies. Once it spins, DRiV will serve as a multi-line, multi-brand aftermarket supplier and also as an original equipment (OE) ride performance and braking supplier to aftermarket, light vehicle, and commercial vehicle customers. The headquarters will be in the greater Chicago area.
Brian Kesseler (in the picture below), Co-CEO at Tenneco and future chairman and CEO at DRiV, said: «DRiV, a more than $6 billion start-up, comes from the combination of the strengths of Tenneco, Federal-Mogul and Öhlins. 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».
Aftermarket business: “Motorparts”
DRiV’s aftermarket business, under the name “Motorparts” will develop, manufacture and distribute a broad portfolio of products for the global vehicle aftermarket. Through the acquisition of Federal-Mogul in 2018, the company has built an important portfolio of products for the replacement parts market. The list of brands includes Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, Axios and others.
Original equipment business: “Ride Performance”
The original equipment business, under the name “Ride Performance” will develop, manufacture and supply global original equipment manufacturers with shock absorbers, struts, NVH performance materials and brake friction.
Tenneco’s separation into two independent, publicly traded companies will be complete in the second half of 2019. After the spin-off, the remaining Tenneco businesses will focus on powertrain systems technology and will retain the Tenneco name.