Williams Advanced Engineering has rebranded to WAE Technologies, following its acquisition by the Australian metals company Fortescue Metals Group for £164 million last year.
Founded in 2010 as an offshoot of the late Sir Frank Williams' eponymous Formula 1 team, the firm has rebranded because its licence to use the name has lapsed. The new name is officially no longer an acronym.
WAE Technologies CEO Craig Wilson said: “We're now entering a new phase in the company’s growth plans, and the time is appropriate for a new name and branding which reflects our position as a leading standalone business.
