Spectrum Brands Inc. (Atlanta, GA), formerly known as Rayovac Corp. (Madison, WI), announced that it has officially assumed its new corporate name and will begin using its new "SPC" trading symbol. Spectrum Brands Chairman and Chief Executive Officer Dave Jones and other senior management members were on hand at the New York Stock Exchange (NYSE) to celebrate the occasion with the ringing of the opening bell.
"The name Spectrum Brands more clearly reflects the fact that today we are a global consumer products company with a robust portfolio of brands across seven major product categories," said Jones. "We are not the same company we were just a few years ago. Our new name brings better clarity to the value proposition we now offer to our global retail customer base and to the investment community."
The company's branded products will continue to be marketed to retailers and consumers under their current names, including Rayovac and Varta batteries and lighting products. The corporate name change was approved at the company's annual meeting of shareholders on April 27, 2005.
