Riyadh-Mubasher: Saudi Aramco has announced the launch of Arlanxeo, a 50-50 joint venture with the German chemicals specialists Lanxess, according to a recent statement.
Netherlands-based Arlanxeo will expand Saudi Aramco’s investment in the downstream business and will specialize in world-class highly efficient synthetic rubber and elastomer products, the statement added.
“Its shareholder committee is chaired by Matthias Zachert, chairman of the Board of Management of Lanxess AG and chairman of the Shareholders’ Committee of Arlanxeo, while Warren W. Wilder, vice president of Chemicals, Saudi Aramco, will be vice chairman. Michael Pontzen, chief financial officer at Lanxess, and Khalid H. Al Dabbagh, financial controller at Saudi Aramco, are the other two members of Arlanxeo’s Shareholders’ Committee,” the statement noted.
