) has announced its collaboration with
, wherein both the companies will jointly design ultra-large
diameter selective catalytic reduction (SCR) catalysts for marine
According to the MARPOL Annex VI and EPA Tier IV regulations,
the engines are required to reduce mono-nitrogen oxides NO and
NO2 termed as NOx by 80%. To comply with the regulation, the
engines need to incorporate after-treatment strategies such as
SCR, which breaks nitrogen oxides into nitrogen and water. Under
the alliance, the Tenneco's SCR solution will deploy Cormetech
catalysts to help the marine industry to conform to the new
MERITOR INC (MTOR): Free Stock Analysis
TENNECO INC (TEN): Free Stock Analysis Report
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NOx is generally produced when nitrogen and oxygen gases combine
after any combustion and is primarily responsible for air
pollution. It reacts to form smog and acid rain, which is harmful
for plants, aquatic animals, and infrastructure.
Cormetech, a joint equity company, designs and manufactures tests
catalysts which reduce NOx emissions. It is an industry-leading
supplier of technology solution and manufacturer of highly
reliable and cost effective SCR.
Tenneco, based in Lake Forest, Illinois, is a leading
manufacturer and supplier of emission control, ride control
systems, and systems for the automotive original equipment
manufacturers (OEMs) and the aftermarket.
Tenneco reported adjusted earnings per share of 85 cents in
third-quarter 2012, comfortably beating of the Zacks Consensus
Estimate of 75 cents and exceeding the year-ago earnings of 67
cents. Profits escalated 23.8% to $52 million from $42 million in
the year-ago quarter.
Revenues increased marginally to $1.78 billion in the quarter
from $1.77 billion in the year-ago quarter. However, it was lower
than the Zacks Consensus Estimate of $1.83 billion. The
year-over-year increase in revenues was attributable to a rise in
production of light vehicles in North America and China and
higher commercial vehicle revenues.
Tenneco competes with
) and maintains a Zacks #3 Rank, which translates into a
short-term (1 to 3 months) Hold rating. Currently, we have a
long-term Neutral recommendation on the stock.