Tyco Completes Separation Process
Tyco completed its separation from Tyco International Ltd. today, becoming the world's largest fire protection and security company, according to the firm.
Westminster-based SimplexGrinnel, a Tyco business focusing on the fire and lifesafety industry, will take on a "more significant role in the company," Tyco said, as its 700 employees in Westminster, as well as under Tyco Fire Protection Products become part of the new Tyco.
"This is an exciting day for Tyco and SimplexGrinnell," said Bob Chauvin, president of SimplexGrinnell. "We now have an even more critical role to play as a key Tyco business that provides industry-leading
fire and life-safety systems and services to 1 million customers throughout North America."
Tyco has more than 3 million customers and 69,000 employees in 50 countries. According to the new company, it will focus on accelerating growth and increasing shareholder value by designing, delivering and maintaining fire protection and security solutions, including the latest innovations in fire detection, suppression and video surveillance.
In September 2011, Tyco International announced that it was separating the company into three, independent and publicly traded companies. They consist of ADT North America Residential, providing security and fire alarm systems; flow control (now Pentair), manufacturing flow control products for oil and gas, food and beverage and chemical industries, among others; and commercial fire and security.
Tyco employees around the world are participating in "Day One" celebrations today, with local workers taking part in a barbecue and games, among other festivities at Wachusett Mountain.
Read more
A World View Of Manufacturing: Q&A With Wayne Canty Of Heat Trace Products
WBJ Web Partners
Most Recent
Most Recent
0 Comments