If you will use it on completely different products, then
yes, it might be possible. For instance, they produce milk and you offer tires.
The main idea is to avoid confusion between your brands; since if a regular
customer thinks that your products and the company’s products originate from
the same source, you will be in trouble.
If the products are similar (even if they are not identical),
you should think about choosing another trademark. In the US the company has
some common law rights, provided that they used the trademark first. If it’s
just a company with the same name and they do not use the name in commerce, it
does not qualify for the protection. If the name is in use, the owners can try
to cancel your registered trademark if you register it.
The cancellation will be expensive, very expensive and if
your trademark becomes popular and the regular customer associates the
trademark with your products, they may fail to succeed.
Facts to check: are they using the unregistered trademark? On
what products are they using it? Are they similar to your products? Is the
trademark registrable?
You can try to apply for your trademark if it’s registrable
and not in use. No one can guarantee that it registers, however, it might be
worth trying.
If you want to be sure, contact an attorney.

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