SCHAFFHAUSEN, Switzerland (AP) -- Tyco Electronics Ltd. said Friday it plans to change its name to TE Connectivity Ltd. next year.
The Switzerland-based maker of electronic components, network products and undersea telecommunications systems said the new name will better reflect the products it makes.
The name change must be approved by shareholders at the company's annual shareholder meeting in March.
"Many customers and employees around the world already refer to us by the initials 'TE,' which is why we chose to keep that as part of our new name," said CEO Tom Lynch.
Shares in Tyco Electronics added 11 cents to close at $33.05.
The Switzerland-based maker of electronic components, network products and undersea telecommunications systems said the new name will better reflect the products it makes.
The name change must be approved by shareholders at the company's annual shareholder meeting in March.
"Many customers and employees around the world already refer to us by the initials 'TE,' which is why we chose to keep that as part of our new name," said CEO Tom Lynch.
Shares in Tyco Electronics added 11 cents to close at $33.05.
