Spirax-Sarco Engineering rebrands as Spirax Group
Spirax-Sarco Engineering rebrands as Spirax Group
Spirax-Sarco Engineering today announces its decision to rebrand as Spirax Group. The change reflects the development of the Company over many years into a larger and stronger Group of three aligned Businesses with differentiated and complementary capabilities:
· Steam Thermal Solutions (previously Steam Specialties)
· Electric Thermal Solutions
· Watson-Marlow Fluid Technology Solutions
Together as Spirax Group, these leading Businesses are united in their purpose to engineer a more efficient, safer and sustainable world. Our new name balances our history and where we have come from, with who we are today. It creates more distinction between the Group and its Spirax Sarco trading Division (part of Steam Thermal Solutions), providing improved clarity for all stakeholders.
Group Chief Executive Officer, Nimesh Patel said:
"This is a natural evolution for our Company which is home to three strong solutions-focused Businesses that improve the efficiency and safety of critical industrial processes across our customers' thermal energy and fluid technology activities. As Spirax Group we can help everyone better understand who we are and how we work together across our Businesses to help customers meet their operational, sustainability and decarbonisation goals."
Spirax Group's new website and updated brand can be viewed at www.spiraxgroup.com.
The Group is also proposing to change its legal name to Spirax Group plc. This is subject to shareholder approval through a special resolution at the Company's AGM in May 2024. Shareholders should note that their shareholdings will be unaffected by the commercial rebrand or proposed legal name change. There is no impact on the Group's financial reporting and the Group will retain the stock market ticker SPX.
The Company's ISIN will remain unchanged. The Company's Legal Entity Identifier (LEI) remains 213800WFVZQMHOZP2W17.
Enquiries
Spirax Group: +44 (0) 1242 535 000
Mal Patel, Head of Investor Relations investors@spiraxgroup.com
Hazel Meldrum, Group Head of Communications communications@spiraxgroup.com
Teneo: +44 (0) 20 7260 2700
Martin Robinson spiraxgroup@teneo.com
Olivia Lucas
Nina Chatrath
About Spirax Group
Spirax Group (formerly Spirax-Sarco Engineering) is positioned to play a critical role in enabling the industrial transition to net zero, aligned to our Purpose to create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world.
We put solving customers' problems at the heart of our 'total solutions' approach. Our global thermal energy and fluid technology solutions improve operating efficiency and safety in our customers' critical industrial processes. Our recently launched new-to-world decarbonisation* solutions use proprietary technologies to electrify boilers, for the raising of steam, as well as the electrification of other critical industrial process heating applications.
Spirax Group comprises three strong and aligned Businesses:
Steam Thermal Solutions helps customers control and manage steam within their mission critical industrial applications, such as cleaning, sterilising, cooking and heating. We are helping to put food safely on the world's tables and keeping our hospitals running.
Electric Thermal Solutions has proprietary technologies that deliver electrification solutions at scale in industrial settings, including for the raising of steam, supporting our customers to achieve their net zero goals. We also deliver freeze protection and defrost solutions critical to aviation and space industries and ensure thermal uniformity in semiconductor chip manufacturing to power the critical electronic systems we rely on.
Watson‐Marlow Fluid Technology Solutions is engineering vital fluid technology solutions that optimise the efficient use of resources and support advancements in global health, such as lifesaving vaccines and gene therapies.
Spirax Group is headquartered in Cheltenham (UK). We have 37 strategically located manufacturing plants around the world and are committed to building a safe and inclusive working culture for our 10,000 colleagues, operating in 66 countries and serving 110,000 customers globally. We aim to create sustainable value for all our stakeholders, with an excellent track record for growth and returns that has delivered 55 years of consecutive annual dividend growth.
The Company's shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and we are a constituent of the FTSE 100 and the FTSE4Good Indexes.
* Eliminates Scopes 1 and 2 greenhouse gas emissions when connected to a green electricity source.
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