Bangkok--17 Feb--vero pr
On behalf of LANXESS, a leading specialty chemicals company based in Germany, we're emailing the latest LANXESS press release titled "LANXESS and Saudi Aramco rubber joint venture to be launched on April 1, 2016, under the name ARLANXEO" for your consideration for news publication.
Relevant antitrust authorities have cleared the transactionTransaction can already be completed on April 1, 2016LANXESS CEO Matthias Zachert: "ARLANXEO will be a strong company of two strong partners"
Cologne – 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.