American Standard Shareowners Approve Company Name Change to Trane
Company Expects to Start Using Trane Name by End of Year
Shareowners of American Standard Companies (NYSE: ASD) today approved an amendment to the certificate of incorporation allowing the company to change its name to Trane. In a special shareholders’ meeting at the company’s headquarters, approximately 99 percent of the 179,913,658 shares represented were in favor of the name change, which is expected to take effect by the end of this year.
On Feb.1, American Standard Companies announced plans to separate its three businesses. Since then, the company completed the spinoff of its vehicle control systems business as an independent company known as WABCO (NYSE:WBC). The company also agreed to sell its bath and kitchen business to funds advised by Bain Capital Partners, LLC, and expects to complete the sale in the fourth quarter. To reflect its focus on the air conditioning systems and services business, the company plans to change its name to Trane. In 2006, air conditioning systems and services, sold under the Trane® and American Standard® brands, generated revenues of $6.8 billion with 29,000 employees.
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