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nVent completes separation from Pentair

nVent trades under the symbol ?NVT? on the New York Stock Exchange. (Image source: nVent)

nVent Electric Plc, which makes server cabinets, said it completed a spin-off from Pentair Plc and is trading as an independent, publicly-listed company

The company's shares began trading on the New York Stock Exchange on 1 May, under the symbol ?NVT.?

nVent has three business segments: enclosures, thermal management and electrical and fastening solutions.

The enclosures unit makes products ranging from server cabinets, data center cooling solutions, power supplies, sub-racks and cases under its nVent SCHROFF brand. The segment's nVent HOFFMAN brand makes steel, stainless steel and non-metallic enclosures, modular enclosures and industrial cooling systems.

nVent's thermal management unit makes heat tracing systems, heating system components, fire-rated wiring cables, floor-heating cables and mats, and thermostats under the RAYCHEM brand.

The company's electrical and fastening solutions unit makes parts used to fix and protect cables and wires under the ERICO and CADDY brands.

?With the completion of this spin, nVent has achieved a major milestone in becoming a more focused, global leader in providing electrical connection and protection solutions to customers around the world,? said Beth Wozniak, nVent?s CEO.

?We are going to be a fast-paced, dynamic growth company, focused on our customers and moving with velocity. I am proud to be part of the nVent team and am confident in the strategy and portfolio we have in place to deliver long-term shareholder value,? Wozniak added.

Pentair said in May last year that it would sell nVent to focus on its core water treatment business.

nVent, as a part of Pentair, had sales of about US$2.1 billion in sales in 2016.