Lanxess/Saudi Aramco - Arlanxeo joint venture

Overview:

• Lanxess and Saudi Arabia Oil Co (Saudi Aramco) have entered into a joint-venture to manufacture synthetic rubber. 
• The deal saw German specialty chemicals company, Lanxess, hiving off its existing synthetic rubber business.
• Saudi Arabia's national oil company paid its new German partner €1.2 billion to secure 50% in the venture, which will operate under the brand Arlanxeo.
• Arlanxeo is controlled by an Aramco owned holding company in the Netherlands. 

Ben Naylor - Regional Editor