Manitowoc Foodservice will be given the privilege of ringing the opening bell at the New York Stock Exchange this week to celebrate its name change to Welbilt.
The company is now officially known by its new moniker after the change in title took effect from yesterday, with its share ticker changing to ‘WBT’.
To mark the transition, it will ring the opening bell of the famous financial centre this Friday, 10 March.
Current shareholders will have their existing shares converted from MFS shares to WBT shares automatically.
“The name change to Welbilt completes the strategic repositioning of our company following its spin-off from The Manitowoc Company a year ago,” stated Hubertus Muehlhaeuser, president and CEO of Welbilt.
He claimed the move had gone down well with the market since it was first revealed last month.
“The Welbilt name has been enthusiastically received by our customers and employees since it was announced last month,” he said. “We can now move forward to achieve our vision of being the leader in professional foodservice equipment and systems by being relentlessly reliable, pragmatically innovative, and intelligently connected.”
Headquartered in the Tampa Bay area, Florida, and operating 17 manufacturing facilities throughout the Americas, Europe and Asia, the company sells through a global network of over 3,000 distributors and dealers in over 100 countries.
Welbuilt employs approximately 5,500 staff and generated sales of $1.46 billion (£1.19billion) in 2016.
Its portfolio of catering equipment brands includes Cleveland, Convotherm, Delfield, fitkitchenSM, Frymaster, Garland, Kolpak, Lincoln, Manitowoc Ice, Merco, Merrychef and Multiplex.