COLUMBUS, Ohio (AP) -- U.S. auto parts maker Tenneco Inc. said Tuesday that it has entered into a joint venture with a Chinese company to supply emission control components and systems for passenger and commercial vehicles.
Tenneco's deal with Changchun FAW Sihuan Group Ltd., a subsidiary of FAW Group Corp., is its seventh in China.
Tenneco will have a 41 percent equity share in the joint venture and FAW Sihuan will have a stake of 49 percent. Tenneco Tongtai (Dalian) Exhaust System Co. will have a 10 percent stake.
Because Tenneco Inc. has an 80 percent stake in Tenneco Tongtai, it will have a controlling interest in the new venture.
Initial customers will include FAW-Volkswagen and FAW Jiefeng. The joint venture will be based in the Chinese city of Changchun.
Tenneco shares fell 34 cents to $21.51 in afternoon trading.
