Tag: Saudi Aramco

Arlanxeo reports increased sales of EPDM rubbers produced in Saudi Arabia

2nd October 2019 | 0 Comments

Arlanxeo reports that it has successfully ramped-up sales of EPDM (Ethylene Propylene Diene Monomer) rubber produced in the Kingdom of Saudi Arabia and marketed under the Keltan KSA brand name. Marketing and sales of the new EPDM grades are based on an agreement concluded between Arlanxeo and Saudi Aramco in 2018, while collaboration has been further enhanced by the take-over of full ownership of Arlanxeo by Saudi Aramco beginning of 2019.

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Donald Chen named CEO of Arlanxeo

Donald Chen named CEO of Arlanxeo

10th April 2019 | 0 Comments

As of 1 May, Donald Chen will succeed Jorge Nogueira as chief executive officer of Arlanxeo. Nogueira is retiring from the rubber manufacturer after a career spanning nearly 40 years in the chemical and pharmaceutical industry.

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Russia, Saudi Arabia to finalize rubber joint venture by end of 2018

16th October 2018 | 0 Comments

Russia and Saudi Arabia will finalize several joint projects by the end of 2018, Russian Energy Minister Alexander Novak recently told journalists. The projects referred to see Saudi Aramco partner with Russain firms Sibur and Novatek. The Sibur plant plans centre on a particularly significantly sized rubber factory.

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Saudi Aramco to become 100% owner of Arlanxeo

Saudi Aramco to become 100% owner of Arlanxeo

8th August 2018 | 0 Comments

An agreement was signed today for the sale of Lanxess’ 50 per cent share in the Arlanxeo joint venture to its partner, Saudi Aramco. Should antitrust authorities approve the transaction, Lanxess will receive approximately 1.4 billion euros in cash after deducting debt and other financial liabilities for its 50 per cent share in the business, which is valued at 3.0 billion euros. Lanxess, which at the end of June 2018 had a net financial debt of 2.6 billion euros, says it plans to use the proceeds to strengthen its financial basis and reduce net financial debt.

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Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm

Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm

11th February 2016 | 0 Comments

State-owned oil company Saudi Aramco and specialty chemicals company Lanxess report that all pertinent authorities have cleared the joint venture agreement signed by the two parties last September, and as a result their joint synthetic rubber company will come into being on 1 April 2016. The 50/50 joint venture will be known as Arlanxeo.

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Lanxess and Saudi Aramco create synthetic rubber joint venture

Lanxess and Saudi Aramco create synthetic rubber joint venture

22nd September 2015 | 0 Comments

Specialty chemicals company Lanxess and Saudi Aramco, the state-owned oil company of the Kingdom of Saudi Arabia, today signed an agreement to establish a synthetic rubber joint venture. Lanxess and Aramco Overseas Company, a subsidiary of Saudi Aramco, will each hold a 50 per cent stake in the €2.75 billion venture, with Saudi Aramco paying approximately €1.2 billion in cash for its 50 per cent share after deducting debt and other financial liabilities.

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