Tenneco Announces Restructuring Actions

The company is looking to save some $64 million annually as a result of the moves.

The company said it will close four North America manufacturing facilities, restructure another in North America and close its Dunsborough, Australia, engineering operation.

The closures and other restructuring actions will eliminate approximately 500 salaried positions and 600 hourly positions, Tenneco said.

“The current global economic crisis and dramatically falling consumer demand for vehicles around the world are accelerating a downward shift in build rates in most regions globally,” said Gregg Sherrill, Tenneco’s chairman and CEO. “We sincerely regret the impact of these restructuring actions on our employees, but we must act quickly by better aligning our operations with the new realities of the market.” (Tire Review/Akron)

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."