TimkenSteel Announces Intent to Change Name to Metallus Inc.
- None.
- None.
"We are extremely proud of the company we have built over the past decade since becoming an independent company," said Mike Williams, president and chief executive officer. "Our long history as a leading producer of high-quality steel products has been a testament to the dedication and hard work of our employees, working together to serve our customers and benefit our local communities. As we continue to build on this legacy, we are excited to announce that we are rebranding ourselves as Metallus, marking a pivotal milestone in our evolution."
Williams continued, "This change underscores our commitment to profitable growth and reflects the inherent strength of our business, exceptional products, valuable partnerships, and, most importantly, our vision for the future. 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. We look forward to the opportunities ahead as we continue to shape the future of our company."
In accordance with the name change, the company will also unveil a new company website on February 27, 2024.
Metallus was created through a combination of the words "metallurgy," the branch of science and technology concerned with the properties of metals and their production and purification, and qualis, which is derived from the Latin word for "quality." The spelling of qualis was intentionally altered to incorporate "us" at the end of the name, reinforcing Metallus' longstanding partnerships and the power of what can be achieved together.
Operating as Metallus, the company will continue to serve the automotive, energy and a variety of industrial end markets with targeted growth in aerospace and defense.
About TimkenSteel
TimkenSteel (NYSE: TMST), which will be known as Metallus Inc., manufactures high-performance carbon and alloy steel products from recycled scrap metal in
FORWARD-LOOKING STATEMENTS
This news release includes "forward-looking" statements within the meaning of the federal securities laws. You can generally identify the company's forward-looking statements by words such as "will," "anticipate," "aspire," "believe," "could," "estimate," "expect," "forecast," "outlook," "intend," "may," "plan," "possible," "potential," "predict," "project," "seek," "target," "should," "would," "strategy," or "strategic direction" or other similar words, phrases or expressions that convey the uncertainty of future events or outcomes. The company cautions readers that actual results may differ materially from those expressed or implied in forward-looking statements made by or on behalf of the company due to a variety of factors, such as: the expected timing of the company's name change; deterioration in global economic conditions, or in economic conditions in any of the geographic regions in which the company conducts business, including additional adverse effects from global economic slowdown, terrorism or hostilities, including political risks associated with the potential instability of governments and legal systems in countries in which the company or its customers conduct business, and changes in currency valuations; the impact of global conflicts on the economy, sourcing of raw materials, and commodity prices; the potential impact of pandemics, epidemics, widespread illness or other health issues, such as COVID-19 or its variants on the company's operations and financial results, including cash flows and liquidity; whether the company is able to successfully implement actions designed to improve profitability on anticipated terms and timetables and whether the company is able to fully realize the expected benefits of such actions; climate-related risks, including environmental and severe weather caused by climate changes, and legislative and regulatory initiatives addressing global climate change or other environmental concerns; the effects of fluctuations in customer demand on sales, product mix and prices in the industries in which the company operates, including the ability of the company to respond to rapid changes in customer demand including but not limited to changes in customer operating schedules due to supply chain constraints or unplanned work stoppages, the effects of customer bankruptcies or liquidations, the impact of changes in industrial business cycles, and whether conditions of fair trade exist in
Additional risks relating to the company's business, the industries in which the company operates, or the company's common shares may be described from time to time in the company's filings with the SEC. All of these risk factors are difficult to predict, are subject to material uncertainties that may affect actual results and may be beyond the company's control. Readers are cautioned that it is not possible to predict or identify all of the risks, uncertainties and other factors that may affect future results and that the above list should not be considered to be a complete list. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
View original content to download multimedia:https://www.prnewswire.com/news-releases/timkensteel-announces-intent-to-change-name-to-metallus-inc-302030560.html
SOURCE TimkenSteel Corporation
FAQ
What is the new name of TimkenSteel?
What is the new ticker symbol for TimkenSteel?
When will the stock trade under the new ticker symbol?
What does the new name signify?