TimkenSteel selects Metallus as new name

Canton, Ohio-based recycled-content electric arc furnace (EAF) steelmaker TimkenSteel will change its name to Metallus Inc., effective Feb. 27.

The new name “honors the company’s centurylong legacy as an industry-leading producer of strong, sustainable steel and reflects its vision to harness the enduring power of high-performance metals to make the world a better place,” according to the firm.

The company's New York Stock Exchange common stock will adopt the new ticker symbol MTUS on Feb. 27.

“We are extremely proud of the company we have built over the past decade since becoming an independent company,” President and CEO Mike Williams says.

For several years, TimkenSteel has been a separate company from The Timken Co. The latter company, based in North Canton, Ohio, is from the same root corporation as TimkenSteel and makes industrial bearings and motion control equipment. TimkenSteel was spun off from The Timken Co. in 2014.

“Our long history as a leading producer of high-quality steel products has been a testament to the dedication and hard work of our employees, working together to serve our customers and benefit our local communities,” Williams says. “As we continue to build on this legacy, we are excited to announce that we are rebranding ourselves as Metallus, marking a pivotal milestone in our evolution.

“This change underscores our commitment to profitable growth and reflects the inherent strength of our business, exceptional products, valuable partnerships, and, most importantly, our vision for the future. As we embark on this new chapter as Metallus, we remain focused on achieving our near-term goals and further solidifying our leadership position in the high-performance metals industry.”

The company says the name Metallus was created through a combination of the words “metallurgy,” the study of metals and their properties, and “qualis,” derived from the Latin word for “quality.”

The spelling of “quails” was intentionally altered to incorporate “us” at the end of the name, Metallus says, “reinforcing Metallus’ longstanding partnerships and the power of what can be achieved together.”

Metallus makes high-performance carbon and alloy steel products using recycled scrap metal at its Canton EAF mill. The firm says its steel is suitable for demanding applications in industrial, automotive, aerospace and defense and energy end markets. The company employs approximately 1,800 people and had sales of $1.3 billion in 2022.