Offshore drilling-rig and service provider Ensco Rowan plc this week said it’s changing its name to Valaris plc, effective July 31, Kallanish Energy reports.
Following the name change, the company’s common shares will trade on the New York Stock Exchange under the new ticker symbol “VAL.”
The name “Valaris” was selected following a process that included participation from the company’s employees worldwide, feedback from customers and other market research, the company said.
The new name was inspired by the Latin root meaning “strength, courage and signifying something of value,” and the Valaris name embodies the company’s ambition to be ‘Boldly First’ as the leader in the industry, it said.
“We are excited to create a new identity as Valaris that will help us usher in a new era for our company and the industry,” said Tom Burke, president and CEO.
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