Many industrial & manufacturing companies do not revise their images for decades.
Sometimes this can hold them back from the next level of business growth.
There are many reasons a manufacturing or industry company may decide to rename their company - acquisition, new services not represented under their current name, new leadership, the current name creates confusion, and more. Whatever the reason you need to consider many things when deciding what direction to go - it's a big decision.
It's not uncommon for a company to revise their log every few years. Manufacturing is no different. Sometimes it's just a slight revision to keep their logo graphics looking fresh, other times it's a complete makeover. If it's been over 5 years it's worth a conversation and evaluation before jumping into an aggressive growth marketing plan.
A brand evaluation goes hand in hand with your company identity. It's an overview of what you're communicating about yourself with and without words. If you're message isn't getting through to your prospects, maybe it's time to solidify your message internally first.