Lanxess and Saudi Aramco have named their new joint venture for synthetic rubber as Arlanxeo, which will be headquartered in the Netherlands. All relevant antitrust authorities have cleared the transaction. Hence, the joint venture will be launched as Arlanxeo on April 1, 2016.
“We will establish Arlanxeo as a new and independent player in the global market for synthetic rubber. And we are convinced that, in the world of rubber, Arlanxeo will become a strong brand,” said Matthias Zachert, chairman of the board of management of Lanxess AG and future chairman of the shareholders’ committee of Arlanxeo.
On September 22, 2015, Lanxess and Saudi Aramco signed an agreement to create a 50:50 joint venture for the development, production, marketing, sale and distribution of synthetic rubber used in the global tyre industry, auto-parts manufacturing and a wide range of other applications.
Abdulrahman Al-Wuhaib, senior vice president downstream, Saudi Aramco, said, “Under its new name, Arlanxeo will build on the customer focus, recognition and reputation of both Saudi Aramco and Lanxess, which both partners are very proud of.”
“We will establish Arlanxeo as a new and independent player in the global market for synthetic rubber. And we are convinced that, in the world of rubber, Arlanxeo will become a strong brand,” said Matthias Zachert, chairman of the board of management of Lanxess AG and future chairman of the shareholders’ committee of Arlanxeo.
On September 22, 2015, Lanxess and Saudi Aramco signed an agreement to create a 50:50 joint venture for the development, production, marketing, sale and distribution of synthetic rubber used in the global tyre industry, auto-parts manufacturing and a wide range of other applications.
Abdulrahman Al-Wuhaib, senior vice president downstream, Saudi Aramco, said, “Under its new name, Arlanxeo will build on the customer focus, recognition and reputation of both Saudi Aramco and Lanxess, which both partners are very proud of.”