Tenneco reaches deal to buy suspension business

The deal is the initial step and a final agreement and closing on a potential purchase of the business is dependent on a number of factors, including consultations with the labor councils representing Marzocchi employees, Tenneco said.

Under the agreement, Tenneco would assume the about $15 million in debt related to Marzocchi's suspension business.

Marzocchi supplies suspension technology for motorcycles and other vehicles.

Tenneco shares rose 15 cents to close at $13.83.