Supplier FAQs - Day 1
Why has Regal Beloit changed its name to Regal Rexnord post-close?
- A couple of reasons we have decided to change our name and brand during this transaction:
- Rexnord is a recognized global brand with an impeccable reputation around their quality product lines. We believe there is value in the brand and will add to our overall brand.
- On a practical side, the Rexnord and PTS segment of products will comprise 60% of our revenue and deserves the appropriate visibility and naming convention that will drive our brand image going forward.
Does the new legal name impact our existing contracts and purchase orders? Will my contract and purchase orders be honored and valid?
- Although we have taken this opportunity to rename and rebrand our corporate entity as Regal Rexnord, there are no legal changes to our relationship. All purchase orders and contracts with our respective plants are valid and will be honored.
From an operational standpoint, will our key contacts change at the plant? Are any changes expected in ship points?
- No changes are expected. Your key contacts in the plant, such as buyer/planners will continue to be your day to day contacts manage supply and demand requirements.
- No immediate changes in ship points are expected.
From a financial perspective, will we continue to invoice and be paid in the same manner?
- Yes, there are no changes in invoicing and all payments will continue as-is.
Is Regal Rexnord planning to continue to do business with my organization?
- While there are no immediate changes to supply today, we are actively looking to optimize our combined supply base and grow relationships with strategic suppliers best positioned to competitively support our consolidated supply chains. Our initial focus is on merging these two great enterprises to ensure business continuity for our mutual end customers, but we will be contacting you in the coming weeks to discuss options for longer term.
- We would highly recommend you continue to execute and perform to our high standards around quality, on-time-delivery and be proactive in bringing forward your cost reduction ideas.
Who will be my first point of contact?
- Please continue to work with your existing Regal and or Rexnord representative as in the past. Phone numbers and email addresses have not changed.
- As we further integrate our teams, your primary contact for our commercial relationship will be your category manager. They will reach out to you as promptly as possible to make introductions and discuss opportunities for growth.
Will we have the opportunity to grow our business with regal Rexnord?
- Yes! As mentioned, as we continue our efforts to integrate our companies, we see great opportunities to consolidate our spend with our very best suppliers. Your category manager will contact you in the very near future to discuss opportunities for growth.
What can I do in the meantime to position myself to grow business with Regal Rexnord?
- If you have not already done so, please assess any existing volume you currently supply to legacy Regal and Rexnord PMC and share back any initial perspectives on opportunities to reconcile rate and service differences for consideration. We are looking to strategically grow suppliers who are able to continue to perform at a high level of service while also renewing commitments to increasingly competitive offerings given the potential for additional scale.