American Standard Changes Name to Trane
December 17, 2007
NEW YORK - On Nov. 28, the New York Stock Exchange (NYSE) was the scene of a special celebration for Trane as it made its debut as the new name for the company previously known as American Standard Companies. Shares of Trane began trading under the symbol “TT” on the NYSE - the same shares that traded under the symbol “ASD” when the company was known as American Standard Companies.
“Today marks the successful completion of our separation plan announced in February,” said chairman and CEO Fred Poses. “Since then, we’ve spun off our vehicle control systems business and sold our bath and kitchen business. Our new name reflects our business focus and our global leadership in providing integrated HVAC systems, services, and solutions.
“This is a great day for the brand, the people, the customers, and for me personally.” Several Trane employees from around the world won an opportunity to participate in the special event on the floor of the NYSE, including Loretta Rawlings from the Trane location in Fort Smith, Ark.
While being interviewed by Kimberly Austin of NYSE Euronext during a live Webcast, Rawlings expressed her sense of pride in Trane and added, “This is total excitement. To find out you are coming to the Stock Exchange floor is beyond belief.”
Dave Pannier, president of Trane Residential Systems, reflected on the pride that company employees feel with the latest events. “All of our people take pride in what we do,” he said. “When our customers visit us and they see the pride in the employees, they walk away and say ‘this is the brand for me.’”
Trane is a manufacturer of HVAC systems, services, and solutions to a broad range of commercial and residential customers. The business employs more than 29,000 people worldwide and generated sales of $6.8 billion in 2006. Trane markets its HVAC systems, services and solutions under two premium brands: Trane® and American Standard®.
Publication date: 12/17/2007