Otoc, TFS set for rebranding

Perth company OTOC has joined TFS Corporation in receiving shareholder approval for a name change and rebranding, which both companies say will more accurately reflect their business models.

Shareholders in diversified business Otoc voted in favour of a resolution today to change the company’s name to Veris.

Otoc, the name of which was previously an acronym for Ocean To Outback Contracting, says the new national brand reflects the growth and development of a professional services business.

Meanwhile, sandalwood producer TFS Corporation is undergoing a rebranding of its own after shareholders earlier this month voted in favour of the company changing its name to Quintis Limited.

“This is envisaged to create a unique, trusted global sandalwood brand to support our strategy of penetrating the diverse and significant markets for Indian sandalwood as our supply grows,” chairman Dalton Gooding said.

The name has been taken from the word ‘quintessential’, with the ‘I’ from ‘Indian’ and ‘S’ from ‘sandalwood’ tacked on.