Gulf Oil and Gas accountACCOUNT

Aramco-Lanxess Joint Venture to to be Launched in April 2016

Source: www.gulfoilandgas.com 2/10/2016, Location: Middle East

Specialty chemicals company LANXESS and Saudi Aramco have announced ARLANXEO, the name of 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. Hence, the joint venture will be launched as ARLANXEO on April 1, 2016.

“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.”

“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,” said 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.

“With this joint venture of the world’s largest producer of synthetic rubber and the world’s largest integrated energy company, we have laid the foundations for the sustainable and positive development of ARLANXEO,” said Zachert. “This is a win-win for our customers as well as for the employees of ARLANXEO. We are looking forward to the launch of this promising new partnership.”

Oil & Gas Companies News in Saudi Arabia >>

Saudi Arabia >>  11/13/2019 - Sadara Chemical Company (Sadara) and Baker Hughes have signed agreements through which Sadara will supply feedstock chemicals to a Baker Hughes chemic...
Kuwait >>  11/12/2019 - Honeywell (HON) announced that Kuwait Integrated Petroleum Industries Company (KIPIC) has selected Honeywell Process Solutions (HPS) to be the main au...

United Arab Emirates >>  11/12/2019 - ADNOC LNG has concluded supply agreements with subsidiaries of BP and TOTAL, effectively booking out the majority of its LNG production through Q1 202...
United Arab Emirates >>  11/11/2019 - Penspen has been awarded a prestigious Project Management Consultancy (PMC) framework agreement from the Abu Dhabi National Oil Company (ADNOC). The f...

Oman >>  11/6/2019 - Rex International Holding subsidiary Masirah Oil has announced that it has awarded a drilling rig contract to Foresight Offshore Drilling, to utilize ...
United Arab Emirates >>  11/5/2019 - GMS announces the award of a 4-year contract (firm period) for a K-Class (Small) vessel. GMS's customer is a Middle East national oil company, for whi...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.