Corporate

LAKE FOREST, Ill., June 25 /PRNewswire-FirstCall/ -- Tenneco Inc. (NYSE:TEN) announced today that Paul Schultz, senior vice president, global supply chain management and manufacturing, is leaving the company today to pursue other opportunities.

Shultz, 56, joined Tenneco in 2002 from Ingersoll-Rand Ltd. The company did not announce an immediate successor.

NASHVILLE, Tenn. and OCALA, Fla., June 25 /PRNewswire-FirstCall/ -- Acacia Automotive, Inc. announced that it has recently completed its first offering of Common shares. The company completed a capital raise of $1,025,000 in line with its goals.

"We are very pleased to have achieved success in consummating that first offering as planned," said Tony Moorby, the company's President and COO. "This gives us the substance to complete our first auction acquisition, which is expected to close approximately July 1st. We can now prepare for other acquisition opportunities that lie before us."

AUBURN HILLS, Mich., June 22 /PRNewswire-FirstCall/ -- BorgWarner Inc. (NYSE:BWA) announces the following Webcast:

AUBURN HILLS, Mich., June 22 /PRNewswire/ -- The new BorgWarner Auditorium was dedicated at the University of Michigan -- Dearborn during the 2007 Technology Day sponsored by the Henry W. Patton Center for Engineering Education and Practice. Located in the Institute for Advanced Vehicle Systems (IAVS), the 220-seat auditorium features state-of-the-art telecommunications and audio-visual equipment designed to connect students, practicing engineers and team members from other institutions throughout the world through video and audio teleconferencing or web-based meetings.

"This high-tech, interactive auditorium will encourage future engineers to passionately pursue innovation with a global perspective," said Tim Manganello, BorgWarner Chairman and CEO. "Our collaborative efforts with the University of Michigan -- Dearborn give us the opportunity to contribute to the community and demonstrate our commitment to the automotive industry through ongoing powertrain research, training the technology leaders of tomorrow."

IRVINE, Calif., June 22 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) , today announced that they have entered into definitive agreements with certain of its existing institutional investors as well as new institutional investors for an aggregate private placement of $18.75 million of common stock. Quantum will sell a total of 12.5 million shares at $1.50 per share, representing a discount from the June 21, 2007 closing price of $2.09. The investors will also receive warrants to purchase approximately 15.0 million shares of common stock at $2.09 per share, which includes approximately 2.5 million to be provided to existing shareholders as consideration for executing waivers of certain rights obtained in a private placement financing completed in October 2006.

NORTHVILLE, Mich., June 22 /PRNewswire-FirstCall/ -- Amerigon Incorporated (NASDAQ:ARGN) , a leader in developing and marketing products based on advanced thermoelectric (TE) technologies for a wide range of global markets and applications, is set to join the broad-market Russell 3000(R) Index when Russell Investment Group reconstitutes its comprehensive set of U.S. and global equity indexes after the close of the U.S. markets today, according to a preliminary list of additions posted on their website.

Amerigon's principal product is its proprietary Climate Control Seat(TM) (CCS(TM)) system which is the only system on the global seat market that allows the driver and passengers to actively heat or cool their seats individually for personal comfort at any time of the year. The Company recently shipped its three millionth CCS system since it began commercial shipments in late 1999. CCS is currently available in 21 vehicles made by five of the world's leading automotive manufacturers including Ford, General Motors, Toyota, Nissan and Hyundai. The Company also recently announced its first non-automotive application of its proprietary TE technology, a personal heating and cooling system for the desktop.

NOVI, Mich., June 21 /PRNewswire-FirstCall/ -- Tower Automotive (BULLETIN BOARD: TWRAQ) today announced the marketing process ordered by the U.S. Bankruptcy Court in conjunction with Tower's Chapter 11 Plan has concluded and no competing bids to purchase the company were received. As a result, the auction scheduled for June 25, 2007, has been cancelled and Tower will request Bankruptcy Court approval of the previously announced sale agreement with TA Acquisition Company, LLC, an affiliate of Cerberus Capital Management, L.P.

CHARLOTTE, N.C., June 20 /PRNewswire-FirstCall/ -- Sonic Automotive, Inc. (NYSE:SAH) , a leader in automotive retailing, announced the acquisition of Calabasas Motorcars in Calabasas, CA from Mr. David Peterson, a long-time Mercedes-Benz dealer. This dealership, which will be renamed Mercedes-Benz of Calabasas, represents approximately $120 million in annual revenues and is located in one of Sonic's largest markets.

NEW YORK, June 20 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (NASDAQ:SIRI) today announced that it completed the $250 million senior secured term loan from Morgan Stanley Senior Funding, Inc. The issue was very well received in the marketplace with strong demand and attractive pricing.

The loan will mature in five and one-half years and has financial covenants substantially similar to those under the Company's existing 9 5/8% Senior Notes. The interest rate on the loan is established at LIBOR (rounded to the nearest 1/16th) plus 225 basis points, which is 7.625% today. The proceeds will be used for general corporate purposes. Morgan Stanley acted as the sole lead arranger.

Brings broad experience and strategic view to field operations

SAN DIEGO, June 19 /PRNewswire/ -- Networkcar(R), a leader in wireless vehicle management, today announced it has named Anne Perry as director of operations. Perry will be responsible for leading the strategic direction and implementation of all field operations, customer service, project management manufacturing, fulfillment, inventory, and service/repair functions.

Perry brings an extensive background in operations and project management to Networkcar. As a consultant, she honed her skills working with world-known companies such as IBM, JD Edwards, Eveready, and Coca-Cola. Her global experience includes owning a consulting business in South Africa, working with Sony Music in Britain, and consulting with a technology company in the Netherlands.