Spectrum Brands, a global maker of small appliances and other consumer products, said it will list its shares on the New York Stock Exchange (NYSE) and will begin trading on Mar. 18, 2010, under the new ticker symbol SPB.
Company shares have traded as SPEB on the OTC Bulletin Board since September 2009, following financial restructuring that strengthened the Spectrum balance sheet.
“As a result of the successful implementation of operational and financial restructuring initiatives in recent years as well as cost savings and market share gains in some of our key product segments, we have achieved improved profitability and positive cash flow,” said Spectrum CEO Kent Hussey.
In February Spectrum Brands said it planned to merge with small appliance maker Russell Hobbs. The merger is expected to close in the summer of 2010 to create a new global consumer products company with an estimated $3 billion in annual revenues.
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