TimkenSteel said on Wednesday it is changing its company name to “Metallus Inc.”
The Canton, Ohio-based steelmaker said the company’s common stock will continue to trade on the New York Stock Exchange under its new ticker symbol — “MTUS” — effective Feb. 27. A new company website will also be unveiled on that day.
“As we embark on this new chapter as Metallus, we remain focused on achieving our near-term goals and further solidifying our leadership position in the high-performance metals industry,” Mike Williams, president and CEO, said in a statement.
TimkenSteel said “Metallus” was formed through a combination of the words “metallurgy” and “qualis,” derived from the Latin word for “quality.” “Us” was altered at the end of the name, “reinforcing Metallus’ longstanding partnerships and the power of what can be achieved together.”
Williams described the rebranding as Metallus as a “pivotal milestone in our evolution.”
The company said it “will continue to serve the automotive, energy, and a variety of industrial end markets, with targeted growth in aerospace and defense.”
With an annual melt capacity of 1.2 million tons, TimkenSteel makes carbon steel, alloy, and micro-alloy steel in the form of specialty bar, seamless mechanical tubing, value-add components, billets, and bottom-poured ingots.
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