- Trane Shares Start Trading Today as 'TT' on the New York Stock Exchange
PISCATAWAY, N.J., Nov. 28 /Xinhua-PRNewswire/ --
Trane makes its debut today as the new name for the company previously known as American Standard Companies. Shares of Trane will trade under the symbol "TT" on the New York Stock Exchange (NYSE) -- the same shares that traded under the symbol "ASD" when the company was known as American Standard Companies.
Trane is a global leader in providing high quality, energy-efficient heating, ventilation and air conditioning (HVAC) systems, services and solutions to a broad range of commercial and residential customers. The business employs more than 29,000 people worldwide and generated sales of $6.8 billion in 2006. Trane markets its HVAC systems, services and solutions under two premium brands: Trane(R) and American Standard(R).
"Today marks the successful completion of our separation plan announced in February," said Chairman and CEO Fred Poses. "Since then, we've spun off our vehicle control systems business and sold our bath and kitchen business. Our new name reflects our business focus and our global leadership in providing integrated HVAC systems, services and solutions."
Earlier this year, Trane was one of the first four energy services companies asked to participate in the Clinton Climate Initiative (CCI), a program launched by former President Bill Clinton to reduce greenhouse gas emissions in 40 of the world's largest cities. In addition, Trane's CenTraVac(TM) chilled water system won the "Best-of-the-Best" Award in 2007 from the U.S. Environmental Protection Agency (EPA) for contributions to strategic ozone protection. During the year, Trane also received numerous awards for residential product design, innovation and customer service.
About Trane
Trane Inc. (NYSE: TT), previously named American Standard Companies Inc., provides systems and services that enhance the quality and comfort of the air in homes and buildings around the world. The company offers customers a broad range of energy-efficient heating, ventilation and air conditioning (HVAC) systems; dehumidifying and air cleaning products; service and parts support; advanced building controls and financing solutions. Selling under both the Trane(R) and American Standard(R) brand names, the company's systems and services have leading positions in premium commercial, residential, institutional and industrial markets; a reputation for reliability, high quality and product innovation; and a powerful distribution network. In 2006 the business generated annual revenues of approximately $6.8 billion with $4.9 billion coming from equipment systems and $1.9 billion from services. Trane has more than 29,000 employees and 29 production facilities worldwide. For more information, visit these Web sites: http://www.trane.com/ and http://www.americanstandardair.com/.
