Tyco Electronics Ltd. announced that it will be changing its name to TE Connectivity Ltd. This will become effective after formal approvals are received from shareholders at the company’s Annual General Meeting scheduled to be held on March 9, 2011. A formal request will be made to shareholders from late January, 2011.

In a press release, Chief Executive Officer, Tom Lynch, said, “We are changing the name of our company to better reflect the products and solutions that we provide to our customers.”

“In a world that is increasingly connected, we engineer a full range of connectivity solutions. From electronic connectors under the hood of a car, to fiber optic cables under the sea, to high-voltage connections in energy systems, our products protect and connect the flow of data and power from origination to destination in the world's largest industries, including automotive, telecommunications, energy, aerospace, industrial, white goods and consumer devices,” Lynch added.

Lynch also said that many customers and employees around the world refer to the company by its initials ‘TE,’ a factor which made the company decide on the new name as TE Connectivity Ltd. The company plans to officially roll out the new name after it is approved by shareholders in March, 2010.

Company sources added that details regarding the request for shareholders to approve the change of name and information about the direct or indirect interest of persons who may be deemed participants in the solicitation, by security holdings or otherwise (including directors and executive officers) will be provided in the company’s proxy statement for the 2011 Annual General Meeting of Shareholders, which is expected to be filed with the U.S. Securities and Exchange Commission (SEC (News - Alert)).

Tyco Electronics is a global provider of engineered electronic components for thousands of consumer and industrial products; network solutions and systems for telecommunications and energy markets; undersea telecommunication systems; and specialty products, revealed Tyco sources.

The company specializes in the design, manufacture and marketing of products for customers in several industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; energy; and lighting. Tyco manufactures approximately 450,000 precision-engineered products.