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BRIEF-Tenneco determined to undertake restructuring initiative, close its clean air manufacturing plant in O'sullivan beach, Australia
July 6, 2017 / 8:08 PM / 2 months ago

BRIEF-Tenneco determined to undertake restructuring initiative, close its clean air manufacturing plant in O'sullivan beach, Australia

July 6 (Reuters) - Tenneco Inc:

* Tenneco says on June 29, determined to undertake a restructuring initiative and close its clean air manufacturing plant in o'Sullivan beach, Australia

* Tenneco inc - initiative may include additional restructuring actions with respect to company's local original equipment ride performance operations

* Tenneco inc - all such restructuring activities related to initiative are expected to be completed by q1 of 2018

* Tenneco inc - company expects to record total charges related to initiative of approximately $12 million in q2 of 2017 and up to $8 million in q3 of 2017

* To close plant when general motors and toyota end vehicle production in Australia, which is expected to occur in October 2017

* Tenneco inc - charges comprise approximately $18 million of cash expenditures and $2 million of non-cash asset impairments Source text (bit.ly/2tWBKWQ) Further company coverage:

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