Tenneco's Stock Extends Slide; Company Says It Has Minimal Exposure To VW's Diesel Business

Tenneco Inc.'s stock slipped 0.8% in morning trade Wednesday, as investors continued to express concerns about the auto supplier's exposure to Volkswagen AG's in the wake of the German car maker's diesel-engine emissions scandal. The stock tumbled 11% over the last three sessions to close Tuesday at the lowest level since June 24, 2013. Tenneco said in an emailed statement to MarketWatch that its actual exposure to VW's diesel engines is minimal, as it does not supply hot-end emissions control components to the diesel engines in question. In North America, the company said it only supplies mufflers and tailpipes on the vehicles with diesel engines, and emissions control components on the gasoline engine versions of those vehicles in question. "Based on 2014 revenue, Tenneco's revenue from its VW diesel engine business in North America was approximately $7 million," the company stated, which is less than 0.1% of the $8.42 billion in revenue it recorded that year.