New Ketjen Corporation Legal Entity Frequently Asked Questions
As of January 1, 2024, Albemarle Corporation’s (“Albemarle”) Catalysts business, recently rebranded as “Ketjen”, will become a wholly owned subsidiary of Albemarle named Ketjen Corporation. As a result, some of the existing Albemarle legal entity names will change. Additionally, Ketjen will set up a number of new entities across the globe. This document provides answers to potential questions you may have related to the legal entity changes.
1. Why are we changing our legal entities?
We are changing the legal entities because of the formation of Ketjen, a separate wholly owned subsidiary of Albemarle.
2. When will the changes occur?
The changes are effective January 1, 2024.
3. Will the products and services remain the same after the name and legal entity changes?
The products and services will remain the same after the name and legal entity changes.
4. Will the material numbers/SKUs change?
There will be no changes to the material numbers/SKUs as a result of the legal entity change.
5. Will there be changes to our daily interactions with our customers?
There will be no changes to our daily interactions as a result of the legal entity changes.
6. Will customer accounts or login credentials be affected by the changes?
There will be no change to customer accounts and login credentials as a result of these changes.
7. How will the changes affect existing contracts, agreements or terms with the company?
We are reviewing all existing contracts and will be contacting each customer separately to discuss if a specific contract needs to be changed or updated. Since Ketjen will remain a subsidiary of Albemarle, most of the legal agreements will remain in effect until agreement expiry or renewal.
8. How will open customer orders be affected by these changes?
We are reviewing all open customer orders and will contact each customer to understand if a new order is needed or if the existing order will remain.
9. Should customers continue sending payments to the same address?
Please send payments to the bank account or address provided on the invoice. Invoices sent from an Albemarle legal entity should be paid to the issuing Albemarle legal entity, and invoices sent from a Ketjen legal entity should be paid to the Ketjen legal entity.
10. If I have a product that shipped and invoiced before January 1, 2024, but payment is not due until after January 1, 2024, where should I send the payment?
Please send payment based on the invoice you receive. Invoices sent from an Albemarle legal entity should be paid to the issuing Albemarle legal entity.
11. Will there be a transaction and shipping recess or a blackout associated with these legal entity changes?
There will be no interruption in our ability to receive orders; however, we ask that you work with us to move up deliveries currently scheduled between December 23, 2023, and January 1, 2024, to allow for a smooth transition.
12. Will my freight forwarder be informed of the legal entity changes?
This depends on your Incoterms. If you have any questions about this, please contact your customer service representative.
13. What happens to my credit limit as a result of the changes?
Since Ketjen will be wholly owned by Albemarle, there will be no required credit limit changes.
14. Will there be a change in the tax number?
This will be dependent on each Ketjen Legal Entity. Some legal entities will undergo a name change only so their Tax Id will remain the same, and some jurisdictions will have a new legal entity created, thus the Tax Id will change. Please reference the Legal Entities Table in the customer letter or on our website.
15. Will there be a change in the VAT registration?
This will be dependent on each Ketjen Legal Entity. Some entities will undergo a name change only and the VAT number will remain the same, and some jurisdictions will have a new legal entity created, thus the VAT number will change. Please reference the Legal Entities Table in the customer letter or on our website.
16. Can customers provide feedback or suggestions related to the name change?
We welcome your feedback and suggestions for how we can make this process as smooth as possible. Please submit your feedback by emailing [email protected].
17. Will the same Safety Data Sheets (SDS) be applicable?
The same Safety Data Sheets apply; however, we will be updating the safety data sheets to reflect the Ketjen logo, company name and address.
18. Will the emergency response number change?
The Emergency response number will remain the same. The different regional numbers are reflected on SDSs and product labels.