Lanxess and Saudi Aramco have unveiled Arlanexo as 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.
“Arlanexo will be a strong company of two strong partners – this is also reflected in the new name of the company,” said Lanxess chairman and future Arlanxeo shareholders committee chairman, Matthias Zacher.
“”We will establish Arlanexo as a new and independent player in the global market for synthetic rubber.”
Last year, 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.
Arlanxeo will be headquartered in the Netherlands and both partners will soon appoint the management team to 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,” added Zachert.