News | August 28, 1998

Tenneco Honored by IndustryWeek for Third Straight Year

For the third straight year, Tenneco, the parent company of Tenneco Packaging, has been selected by IndustryWeek (IW) magazine as one of the world's 100 best-managed manufacturers.

The award, says John Brandt, editor-in-chief of IndustryWeek, goes to companies that demonstrate superior, consistent management performance. "These awards also recognize companies that position themselves for the future by investing in areas such as change, market development, people and society."

"This selection recognizes our progress in transforming a diversified conglomerate into a focused, global manufacturer of automotive parts and packaging, and in particular, the hard work of our management and the people at Tenneco Automotive and Tenneco Packaging," said Dana Mead, Tenneco chairman and CEO.

Among Tenneco, Inc.'s manufacturing plants that have been selected by IndustryWeek as being among the Ten Best Plants in America over the past two years is Tenneco Packaging's Counce, TN manufacturing facility.

Candidates for IndustryWeek's 100 Best-Managed Companies were chosen by IW editors from the IndustryWeek 1000, a list of the world's largest publicly held manufacturing companies released in June. Two companies of the Dun & Bradstreet Corp. — Dun & Bradstreet and Moody's Investors service — supplied data for the IW 1000.

The 100 Best-Managed Companies were selected on the basis of a four-step process that included: 1) analysis of companies' financial performance; 2) review of a response questionnaire from competing companies; 3) research into each company's practices in areas such as philanthropy and safety; and 4) voting by a panel of more than 80 world business leaders, analysts and academicians from around the world.

Tenneco Packaging's products include Hefty trash bags, Hefty OneZip and Baggies food storage bags, E-Z Foil single-use aluminum cookware and Hexacomb paper honeycomb protective packaging products.