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Payne Security’s parent company, Filtrona plc (“Filtrona” or “the Company”) has indicated that, with effect from 26th June 2013, it will be renamed as Essentra plc. In addition, effective from the same date, the Company’s Coated & Security Products division, of which Payne Security is a part, will be renamed as Packaging & Securing Solutions, to better reflect the division’s business activities. Following this, Payne Security will re-brand to Essentra Security during the second half of this year, with a view that the roll-out is completed by the end of 2013. Essentra, an abstract name, was specifically chosen to capture what each of Filtrona’s businesses, including Essentra Security, manufactures and supplies; namely, millions of small but essential components which often play a critical enabling role in the products of our customers, everywhere and every day. The selection of a new brand has taken over a year of planning, extensive research and testing, and it is considered that the new identity of Essentra best represents the Company’s activities and products. As part of Filtrona’s Vision 2015 strategy, the Company has progressively been creating a more unified culture, working together in a more co-ordinated way so as to leverage the Group’s collective skills and capabilities more effectively. The Essentra brand will be adopted by each of Filtrona’s businesses, representing a change from the current situation where the corporate name and logo is used by some but not all. As such, the re-branding to Essentra is an important and logical milestone on the Company’s path to achieving its Vision 2015 objectives. The re-branding to Essentra is expected to benefit the Company’s customers, in terms of giving them greater visibility as to the benefits of Filtrona’s entire product and service offering, with a more co-ordinated communication behind a single visual identity. It is also anticipated that the re-branding will provide employees with a more cohesive and engaging culture, aligned around a vibrant, forward-looking and dynamic corporate identity. Commenting on today’s announcement, Alison Evans, divisional managing director, stated: “Our re-branding to Essentra Security is an exciting development. While we manufacture and distribute products which are ostensibly unconnected to other Filtrona businesses, what unites us is that we are all leading suppliers of essential components to our customers. Indeed, through working together in a more co-ordinated way and leveraging our collective skills and capabilities under a single brand, we believe we can benefit all our stakeholders and be an even more relevant partner to them. We will communicate in further detail as to our own re-branding plans to Essentra Security in the second half of the year: in the meantime, it’s business as usual.”
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