LANXESS and Saudi Aramco form rubber joint venture ARLANXEO

LANXESS and Saudi Aramco announced the formation of ARLANXEO, their new joint venture for synthetic rubber. The new name and logo combines elements from the names and logos of both partners. The logo is complemented by the descriptor “Performance Elastomers” to highlight the new company’s product range. 

 

All relevant antitrust authorities have cleared the transaction. The joint venture will be launched as ARLANXEO on April 1, 2016.

 

ARLANXEO will be a strong company of two strong partners, said Matthias Zachert, Chairman of the Board of Management of LANXESS AG and future Chairman of the Shareholders’ Committee of ARLANXEO. He added that ARLANXEO will become a new and independent player in the global market for synthetic rubber.  

 

 

Under its new name, ARLANXEO will build on the customer focus, recognition and reputation of both Saudi Aramco and LANXESS, according to  Abdulrahman Al-Wuhaib, Senior Vice President Downstream, Saudi Aramco.

 

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 tire industry, auto-parts manufacturing and a wide range of other applications. 

 

ARLANXEO will be headquartered in the Netherlands. 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.