Albemarle (NYSE:ALB), a premier specialty chemicals company, launched Ketjen, a subsidiary focused on catalyst solutions for the petrochemical, refining, and specialty chemicals industries.
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Ketjen will operate through three divisions, Fluidized Catalytic Cracking (FCC), Clean Fuels and Hydroprocessing Catalysts (HPC), and Performance Catalyst & Curative Solutions (PCS), led by Albemarle’s existing advanced catalyst solutions team.
Ketjen is the new name given to Albemarle’s existing catalysts business after the company announced its plans to operate the business separately.
“Establishing Ketjen under this separate structure will allow the business even greater focus and continued development of custom, high-impact catalyst products,” said Albemarle CEO Kent Masters.
What is the Price Target for ALB Stock?
Wall Street analysts think that the ALB stock price can reach $307.76 in the next 12 months, on average. Moreover, analysts are fairly optimistic about the prospects of the stock, with a Moderate Buy rating based on nine Buys, six Holds, and two Sells.
