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.