Canton-based steel production company TimkenSteel will change its name to “Metallus” at the end of February.
The name is a combination of “metallurgy,” the branch of science that focuses on metals, and “qualis,” the Latin word for quality, according to a media release issued Wednesday.
“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,” according to the release.
The rebranding will emphasize the company’s commitment to producing high-performance metals, president and CEO Mike Williams said in the release.
“We are extremely proud of the company we have built over the past decade,” Williams said. “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.”
The name change also marks a decade since TimkenSteel became an independent company, Williams added.
In 2014, the company split into two separate companies: The Timken Company and TimkenSteel. The latter focuses on steel production, while The Timken Co. is a bearings and power transmission business.
“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,” Williams added in the release. “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.”
Metallus will be the new name beginning Feb. 27, according to the news release.
The company will also unveil a new website that day, and its stock will begin trading under its new ticker symbol, MTUS.
The company has made carbon and alloy steel products in Canton since 1917.
