Each company has many "publics’’ who should be able not only recognize its name 【21】 to correctly identify its industry and its 【22】 line. These publics include present customers and stockholders as well as banks, insurance companies, stockbrokers, and securities 【23】 who supply the company with essential services and capital.
The 【24】 names of many well-established companies can be a of misinformation, thereby 【25】 communication with them. This was the problem that faced Michigan Seamless Tube Company ― a company with sales of ＄128 million a year. In the first 【26】 ,the company’’s name tells us that it is located in Michigan 【27】 that it manufactures seamless tubing. What the name does not 【28】 to most people is the fact Michigan Seamless Tube also has operations in five 【29】 states and has a varied product line ― specialty forgings, broaching machines, tools, and steel bars ― in addition to seamless tubing. The problem was 【30】 by the company’’s 【31】 , which operated 【32】 their own names and were not clearly identified with the 【33】 company.
Customers, suppliers, and the financial community did not see Michigan Seamless Tube as a 【34】 based metal producer. They perceived it only as a small, 【35】 , regional manufacturing company. The company’’s 【36】 decided to adopt a new corporate identity.
The 【37】 point for this change was the company name. The new name had to be one that could encompass all of the company’’s products and subsidiaries, a name that would correctly project the image of a 【38】 corporation. After considering many different possibilities, management decided on a 【39】 word: Quanes ― a name 【40】from a combination of the first three letters of the word " quality" and the first three letters of the Latin word "nex", which means connection.