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nVent Electric plc, London, formerly a group of electrical equipment brands owned by Pentair, is now a stand-alone company. The new company began trading today on the New York Stock Exchange under the ticker symbol NVT.
Here's a look at the company's new logo:
nVent starts its independent life already a global leader in electrical connection and protection solutions with a portfolio of businesses making electrical enclosures, electric heat tracing solutions, complete heat management systems, and electrical and fastening solutions. Its key brands include Caddy, Erico, Hoffman, Raychem, Schroff and Trace.
“With the completion of this spin, nVent has achieved a major milestone in becoming a more focused, global leader in providing electrical connection and protection solutions to customers around the world,” said Beth Wozniak, nVent’s chief executive officer. “We are going to be a fast-paced, dynamic growth company, focused on our customers and moving with velocity. I am proud to be part of the nVent team and am confident in the strategy and portfolio we have in place to deliver long-term shareholder value.”
The new company is keeping its headquarters in London, England, with U.S. operations based in Minneapolis, MN. It has nearly 9,000 employees worldwide and reported annual revenues of $2.1 billion in 2016.