According to a press release from Tenneco of the US, the automotive company has entered into a preliminary agreement to purchase the suspension business of Gruppo Marzocchi, the Italian suspension specialist.
A final agreement and closing on a potential purchase of Marzocchi's suspension business is dependent on a number of conditions and the legally-required consultation with the works councils representing Marzocchi employees.
The acquisition would be made through Tenneco's assumption of the debt associated with Marzocchi's suspension business, which was approximately $15 million as of April 30, 2008.
"An acquisition by Tenneco of Marzocchi's suspension business would leverage the brand, technology and product synergies of the two companies, providing customers with integrated suspension systems (forks, shock absorbers and elastomers) for motorcycles and other applications."
'Other applications' being mountain bike suspension forks.
Tenneco is a $6.2 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 21,000 employees worldwide. Tenneco is one of the world's largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its under the Monroe, Walker, Gillet and Clevite Elastomer brand names.