American Standard Companies announced it has changed its company name to Trane to reflect its focus on the air-conditioning systems and services business. The name change, along with the unveiling of a new company logo, is expected to take effect by the end of this year.
On Feb. 1, American Standard Companies announced plans to separate its three businesses. Since then, the company completed the spinoff of its vehicle control systems business as an independent company known as WABCO. The company also agreed to sell its bath and kitchen business to funds advised by Bain Capital Partners, LLC, and expects to complete the sale in the fourth quarter. In 2006, air-conditioning systems and services, sold under the Trane and American Standard brands, generated revenues of US$6.8 billion with 29,000 employees.