TELFORD, England — Agricultural wheel producer GKN Wheels has changed its name to moveero Ltd., a move meant to underscore the firm's evolution into a more agile and dynamic company.
The change in the corporate identity comes 11 months after the firm was acquired by German investment firm Aurelius Equity Opportunities SE & Co. K.G.
In business since 1908, the Telford-based company designs, manufactures and supplies wheels for a variety of low-pressure applications, including agricultural, construction, industrial and mining industries.
It generated sales in 2019 of $215 million, with over 900 employees.
Phil O'Donnell, chief operating officer, called the identity change a "significant landmark in our journey. Our new name and identity is undoubtedly bold and different and that's quite deliberate; we want this change to mark a real milestone in our business and to be a real statement of intent."
The company did not elaborate on the origins or meaning of the new name.
"Although the new name is clearly important," he continued, "this announcement is as much about the progress our business has made and how we are evolving to become more agile and dynamic in the way we operate.
"Today is about continuing to forge a new and confident path for our business and market leading products. We will continue to use our unrivalled knowledge and globally renowned engineering expertise at the heart of the business to take us to the next level. moveero is not just a new brand — it's an evolution of GKN Wheels."
In the U.S., the company produces wheels at a factory in Armstong, Iowa, and maintains a testing facility in Woodridge, Ill.