American Standard announced last month that the $11 billion toilets-to-brakes conglomerate dating back to the 19th century would sell its well-known bath-and-kitchen division, spin off its vehicle controls group and rename itself Trane after the flagship brand name of the one business it will keep.
“The board has concluded that separating American Standard into three focused, better understood companies will create greater shareowner value than the current structure,” said Fred Poses, the company’s chairman and CEO, in a press release announcing the plan. “The businesses have the size, global reach, industry leadership and organizational talent to succeed as separate companies.”