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Arlanxeo reports increased sales of EPDM rubbers produced in Saudi Arabia

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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

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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  1. Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm
  2. Saudi Aramco to become 100% owner of Arlanxeo
  3. Arlanxeo reports increased sales of EPDM rubbers produced in Saudi Arabia
  4. Jorge Nogueira takes over as Arlanxeo’s CEO
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Russia, Saudi Arabia to finalize rubber joint venture by end of 2018

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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  1. Arlanxeo reports increased sales of EPDM rubbers produced in Saudi Arabia
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Saudi Aramco to become 100% owner of Arlanxeo

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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Related news:

  1. Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm
  2. Lanxess and Saudi Aramco create synthetic rubber joint venture
  3. Arlanxeo – synthetic rubber JV’s Executive Board named
  4. Rhein Chemie acquires US bladder manufacturer
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Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm

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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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Related news:

  1. Lanxess and Saudi Aramco create synthetic rubber joint venture
  2. Saudi Aramco to become 100% owner of Arlanxeo
  3. Arlanxeo – synthetic rubber JV’s Executive Board named
  4. Goodyear to pay Sumitomo US$271 million to end global joint venture
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Lanxess and Saudi Aramco create synthetic rubber joint venture

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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.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm
  2. Saudi Aramco to become 100% owner of Arlanxeo
  3. Goodyear to pay Sumitomo US$271 million to end global joint venture
  4. Doublestar forms European joint venture with Zenises
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