Tenneco sells brake unit; Cooper buys Abex
Tenneco Automotive sells its Lincolnshire, IL-based brake division to James E. Bennett Jr. of Charleston, SC, for undisclosed terms. Under Bennett the company, which had $63 million in 1994 sales, will be called Brake Pro Inc. and will continue to manufacture and sell asbestos-free brake pad and brake shoe friction materials. Meanwhile, Cooper industries of Houston, TX, completes the purchase of Abex
February 1, 1995
Tenneco Automotive sells its Lincolnshire, IL-based brake division to James E. Bennett Jr. of Charleston, SC, for undisclosed terms. Under Bennett the company, which had $63 million in 1994 sales, will be called Brake Pro Inc. and will continue to manufacture and sell asbestos-free brake pad and brake shoe friction materials. Meanwhile, Cooper industries of Houston, TX, completes the purchase of Abex Inc.'s friction products division for $207.4 million in cash. The company becomes part of Cooper's automotive products segment.
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