TimkenSteel to rebrand as Metallus

TimkenSteel will become Metallus

CANTON − TimkenSteel is changing its name to Metallus ― a merging of “metallurgy,” the science of metals, and “qualis,” derived from the Latin word for quality.

It’s a move to fully differentiate the Canton-based steel company from its former parent company, the Jackson Township-based Timken. Co. The steelmaking and bearing divisions of the Timken company split into two independent, publicly-traded companies in 2014.

President and CEO Michael Williams said the company appreciates its origins but has been on a transformational journey the past several years after early financial struggles. The company’s stock traded around $40 shortly after the spinoff but dropped to single dollars by 2016 and, while it’s rebounded some, share prices haven’t risen above $30.

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