(Alliance News) - Spirax-Sarco Engineering PLC on Thursday said it has rebranded as Spirax Group.
The Cheltenham, England-based thermal energy management and pumping company said the change reflects the "development of the company over many years into a larger and stronger group of three aligned businesses with differentiated and complementary capabilities."
The three businesses it referred to are Steam Thermal Solutions (previously Steam Specialties),
Electric Thermal Solutions and Watson-Marlow Fluid Technology Solutions.
Chief Executive Officer Nimesh Patel said: "This is a natural evolution for our company which is home to three strong solutions-focused businesses that improve the efficiency and safety of critical industrial processes across our customers' thermal energy and fluid technology activities. As Spirax Group we can help everyone better understand who we are and how we work together across our businesses to help customers meet their operational, sustainability and decarbonisation goals."
The firm is also proposing to change its legal name to Spirax Group PLC, but said it is subject to shareholder approval.
Shares in Spirax were down 0.2% to 10,355.00 pence each in London on Thursday morning.
By Sabrina Penty, Alliance News reporter
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Spirax-Sarco (SPX)