MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)-- Brush Engineered Materials Inc. announced today that it has officially changed its name to Materion Corporation and unified all of its businesses under the new Materion brand. The Company's common stock will continue to trade on the New York Stock Exchange under the new symbol "MTRN."
Concurrent with the announcement, the Company introduced its new logo and launched a new website at www.materion.com.
"The unification of our businesses as Materion is more than a name change. It also represents a strategic commitment to go to market as one company and more closely align our global structure with the needs of our customers," said Richard J. Hipple, Chairman, President and CEO.
"As the Company has grown through acquisitions and internal initiatives, our businesses continued to operate under their original names and brand identities. That made it difficult to position the Company as a single, unified organization. Lack of awareness of our critical mass and the full scope of our products, services and expertise was limiting growth. We believe these changes will increase global recognition, create efficiencies, facilitate synergies and enable us to better serve our customers."
The Company has transformed over recent years into a leaner, faster-growing, more diversified and less cyclical enterprise, Hipple noted. "We have a higher-value business model today in terms of our growth potential, margins, cash flow, balance sheet and capital structure."
Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors. These factors include the anticipated timing and ability to achieve further efficiencies and synergies resulting from the name change and business unit alignment under the Materion brand.
Materion Corporation (NYSE:MTRN - News) is headquartered in Mayfield Heights, Ohio. The Company, through its wholly-owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.
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