EnPro Unveils New Global Brand in Recognition of Business Portfolio Transformation
EnPro Industries, Inc. (NYSE: NPO) announced a global rebrand to 'Enpro' reflecting its transformation in business portfolio. The new corporate logo aligns with its mission to leverage materials science in various sectors, including semiconductor and life sciences. CEO Marvin Riley highlighted that strategic acquisitions, such as LeanTeq and Alluxa, support this focus, aiming for profitable growth in technology-enabled markets. The company has also divested underperforming divisions to enhance overall performance and returns on invested capital.
- Strategic acquisitions of LeanTeq, The Aseptic Group, and Alluxa focus on materials-science-based businesses.
- Realignment of reporting segments enhances transparency and collaboration.
- Commitment to serve faster-growing markets and generate higher returns on invested capital.
- None.
EnPro Industries, Inc. (NYSE: NPO), a leading industrial technology company leveraging materials science across its portfolio of businesses, today announced that in recognition of the transformation of its business portfolio, it is launching a global rebrand to “Enpro” and adopting a new corporate logo.
"We are excited to launch our reimagined brand, which is consistent with our purpose of unleashing materials science to move humanity forward and better reflects our identity as a materials-science-based industrial technology company," said Marvin Riley, President and Chief Executive Officer. “Our new brand identity underscores our commitment to delivering highly engineered products and services that provide differentiated performance derived from materials science expertise, manufacturing know-how, and trade secrets. Our aim is to partner with our customers to help solve their greatest challenges.”
“In support of our portfolio transformation we have completed several strategic acquisitions, divestitures, and other initiatives toward the goal of achieving profitable growth within the semiconductor, life sciences, and other technology-enabled markets,” continued Mr. Riley. “The acquisitions of LeanTeq and The Aseptic Group in 2019 and the acquisition of Alluxa in 2020 were consistent with our strategy to focus our portfolio on materials-science-based businesses with leading technologies, compelling margins, strong cash flow, and high aftermarket exposure that serve markets with favorable secular tailwinds.”
“A strategic review of our businesses in 2019 resulted in the divesture of our Fairbanks Morse division as well as the elimination of several underperforming businesses,” added Mr. Riley. “In 2020, we sold several product lines and business units to refocus the heavy-duty truck portion of our portfolio on higher-margin wheel-end sealing systems and suspension components. Additionally, to reflect the significant changes in composition of our portfolio, in February we announced the realignment of reporting segments, which enhances transparency and collaboration across the company.”
“Our new brand image emphasizes our commitment to the ongoing transformation of our business to serve faster growing markets and to generate higher returns on invested capital while embracing our core values and company purpose,” concluded Mr. Riley.
About Enpro
Enpro is a leading industrial technology company using materials science to push boundaries in semiconductor, life sciences, and other technology-enabled sectors. For more information about Enpro, visit the company’s website at http://www.enproindustries.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210329005175/en/
FAQ
What recent changes did EnPro Industries announce?
What impact do the acquisitions have on EnPro's business?
How has EnPro Industries improved transparency?
What sectors is EnPro focusing on with its new strategy?
What was the reason behind EnPro's divestiture of certain businesses?
