Automotive electronics supplier Brush Engineered Materials Inc. said today that it will change its name to Materion Corp. and unify its businesses under the new name effective March 8.
The name change comes as Brush, which has five U.S. subsidiaries, tries to improve efficiency.
“As we have grown, our businesses continued to operate under original names and brand identities. That has made it difficult to position the company as a single, unified organization,” CEO Richard Hipple said in a statement. “We find that even some long-time customers are not aware of the full scope of our capabilities.”
Brush began as a metal mining company, but has expanded to include manufacturing services in the technology, aeronautics and auto industries. The company is a subsupplier of airbag sensors, auto dimming mirror coatings and mirror connectors, engine oxygen sensors and electronic power steering modules to Tier 1 suppliers and automakers.
In 2009, the most recent year for which data are available, the suburban Cleveland company posted a net loss of $12.4 million on sales of about $715.2 million. In 2008, the company reported a net profit of $18.4 million on sales of $909.7 million.