ENERGY

Tenneco to Spin Off Shipbuilding, May Shed Energy Unit: The conglomerate said it will consider a tax-free spinoff, sale or strategic alliance for its energy division, which transports 15% of total U.S. natural gas supplies to customers in 20 states. The tax-free spinoff of its Newport News Shipbuilding unit will be completed late this year, the company said. Analysts said the actions will change the face of the once-sprawling Tenneco Inc., which previously held operations in six divisions. Management has been paring the company structure since late 1991 and has hinted at the latest moves, which focus the company on its higher margin automotive parts and packaging operations. Houston-based Tenneco recently sold its remaining stake in Case Corp.