American Standard Shareowners Approve Company Name Change to Trane
September 28 2007 - 2:38PM
PR Newswire (US)
- Company Expects to Start Using Trane Name by End of Year -
PISCATAWAY, N.J., Sept. 28 /PRNewswire-FirstCall/ -- 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(R) and
American Standard(R) brands, generated revenues of $6.8 billion
with 29,000 employees. Additional information is available at
http://www.americanstandard.com/. Copyright (C) 2007 American
Standard Companies Inc. DATASOURCE: American Standard Companies
CONTACT: Media, Skip Colcord, +1-732-980-3065, , Shelly London,
+1-732-980-6175, , or investors and financial analysts, Bruce
Fisher, +1-732-980-6095, , all of American Standard Companies Web
site: http://www.americanstandard.com/
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