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.â€Â
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.
Comments