DRiV Incorporated to spin from Tenneco

DRiV Incorporated will be launched in the second half of 2019, following Tenneco’s separation into two independent companies. DRiV will serve as one of the largest global multi-line, multi-brand aftermarket suppliers and one of the largest global original equipment (OE) ride performance and braking suppliers to the aftermarket, light vehicle, and commercial vehicle
customers. It will be headquartered in Chicago.

Brian Kesseler, Co-CEO, Tenneco and future chairman and CEO, DRiV, said, “It is a landmark day, now that we are able to announce the future company’s name and identity. DRiV will be a unique new business, a more than $6 billion start-up, built from the combined strengths of Tenneco, Federal-Mogul and Öhlins – laser-focused on innovation, performance, brand development and customer service. We are strategically positioned to capitalise 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.”

The black, red and silver logo is connected to a rich heritage of performance. The overall design is confident with a circular shape that evokes a tachometer, representing speed, strength, and pushing
boundaries. The uniquely styled letters that form the company name are clean, dynamic, and forward-leaning. In the  logo design, the DRiV name incorporates a special character for the “i” that has multiple meanings. It can be read as a letter “i” which also represents integrity, innovation and insight. And it can also be read as the number “1,” which implies “our one team.”

“The DRiV name and logo is distinctive, standing out from the competition in both the original equipment and aftermarket spaces,” said Scott Usitalo, the company’s chief marketing officer. “It personifies the idea that there’s a
driving force behind anything in motion. Our mission is to be a driving force that moves people – offering them enhanced ride experiences through differentiated brands, products and technologies. DRiV is an active name that inspires energy and movement, and signals what we intend to provide to our customers – superior driving advancements.”

Tenneco Chicago Meeting

DRiV’s aftermarket business, which will be known as “Motorparts,” will develop, manufacture and distribute a broad portfolio of products in the global vehicle aftermarket. Through the acquisition of Federal-Mogul in 2018, the company has built an industry-leading brand portfolio that positions it to become one of the largest global suppliers of replacement parts to the global aftermarket. Its brands include Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo Rancho, Thrush, National, Sealed Power, Axios and others.

Following the acquisition of Federal-Mogul in October 2018, Tenneco’s separation into two independent, publicly traded companies is expected to 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.

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