It's official: Walter Industries is Walter Energy
Walter Industries is now Walter Energy. Six years in the making, Tampa’s Walter Industries on Thursday cast aside its conglomerate-sounding name and, with a 97 percent vote of approval from shareholders, officially adopted its new name: Walter Energy.
The name reflects the company’s strategic goal of exiting the homebuilding, mortgage financing, pipe and other businesses and focusing on the business of metallurgical coal. That type of coal is used to make steel. Walter officials say they can now deliver a much more crisp message to investors and analysts of who the company is and what it does. Stated Walter Energy chairman Michael T. Tokarz:
"By its very nature, the term 'Industries' implies operation in two or more industries and we are now squarely focused in the energy resources sector, led by our metallurgical coal business. We are excited to embark on this next chapter in our company’s history."
Look for a more in-depth exploration here shortly on how and why Walter changed its name.
-- Robert Trigaux, Times Business Columnist