Pittston renamed The Brink’s Company

 - 
Sunday, June 1, 2003

RICHMOND, Va. - Less than a year after selling its coal business, The Pittston Company has changed its name to better reflect its three remaining core businesses and capitalize on the well-known Brink’s name.

The company will now be known as The Brink’s Company, after a majority of shareholders of The Pittston Company voted in favor of the new name. Eighty-eight percent gave their approval at the annual shareholders meeting May 2 in New York. The change took effect May 5, which ironically also served as the 144 anniversary of Brink’s founding by Perry Brinks.

“Brink’s, as it relates to home security, is a consumer brand,” said Scott Dudley, director of investor relations for The Brink’s Company, based here. “Brink’s, from an armored car perspective, is also a well-known brand, certainly more so than Pittston was.”

Company officials first informed shareholders about plans to change the name in the shareholder proxy statement mailed during the first quarter. The Pittston name had been synonymous with the com-pany’s coal business, which was founded in 1838 as the Pennsylvania Coal Co. in Pittston, Pa.

Though it exited the coal business last year, The Brink’s Company still maintains a small interest in natural gas, gold and timber businesses. Plans call for those entities to be divested at a future date.

The company’s core business now include Brink’s Home Security; Brink’s Inc., which is its armored car division; and BAX Global, an airfreight company. After shareholders approved the name change, The Brink’s Company stock symbol on the New York Stock Exchange was also changed to BCO.