Tenneco lost $218 million in 1987, largely...
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Tenneco lost $218 million in 1987, largely because of special charges. The Houston energy and manufacturing company lost $39 million in 1986. Revenue in 1987 rose to $14.79 billion from $14.23 billion. The company took a $250-million charge in its fourth quarter to settle its Tennessee Gas Pipeline Co. subsidiary’s obligations and changes of its gas purchases. In addition, the company said its 1987 results were hurt significantly by losses at its Case IH farm equipment unit.
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