SCHAFFHAUSEN, SWITZERLAND: Tyco Electronics Ltd announced that it plans to change its name to TE Connectivity Ltd., subject to shareholder approval at the company's Annual General Meeting of Shareholders to be held on March 9, 2011. The company intends to make the formal request in proxy materials that will be mailed to shareholders beginning in late Jan. 2011.
"We are changing the name of our company to better reflect the products and solutions that we provide to our customers," said CEO Tom Lynch.
"In a world that is increasingly connected, we engineer a full range of connectivity solutions. From electronic connectors under the hood of a car, to fiber optic cables under the sea, to high-voltage connections in energy systems, our products protect and connect the flow of data and power from origination to destination in the world's largest industries -- including automotive, telecommunications, energy, aerospace, industrial, white goods and consumer devices."
Lynch continued, "Many customers and employees around the world already refer to us by the initials 'TE,' which is why we chose to keep that as part of our new name."
The company plans to officially roll out the new name following shareholder approval in March of next year.
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