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Aramco-Lanxess JV firm to launch in April

March 2016

Arlanxeo , the new synthetic rubber joint venture between Saudi Aramco and speciality chemicals company Lanxess, promises to be a strong brand, the JV partners say.

Launching on April 1, it will be a 50:50 enterprise 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.

The company will be headquartered in the Netherlands.

“Arlanxeo will be a strong company of two strong partners. This is also reflected in the new name of the company,” said Matthias Zachert, chairman of the board of management of Lanxess AG and future chairman of the shareholders’ committee of Arlanxeo. “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.”

Zackert said Arlanxeo would be a ‘win-win situation  for the firm and its staff.

Abdulrahman Al Wuhaib, senior vice president downstream, Saudi Aramco, commented: “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.”

The partners will soon appoint the management team that will run the joint venture. Each partner will have equal representation on the boards overseeing the company. The CEO will be appointed by Lanxess and the CFO by Saudi Aramco.
 




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