Advertisements

LANXESS completes sale of ARLANXEO to Saudi Aramco

Specialty chemicals company LANXESS today, December 31, 2018, completed the sale of its remaining 50 percent interest in the rubber company ARLANXEO to Saudi Aramco. All relevant antitrust authorities have granted the necessary approvals for the transaction announced in August 2018.

Upon completion of the transaction, the remaining stake of the specialty chemicals company in ARLANXEO was transferred to the former joint venture partner Saudi Aramco. In return, LANXESS received proceeds of approximately EUR 1.4 billion. With the transaction proceeds, LANXESS strengthens its financial base and significantly reduces its net financial liabilities.

ARLANXEO was founded on April 1, 2016, as a joint venture of LANXESS and Saudi Aramco. The company headquartered in Maastricht, Netherlands, generated sales of around EUR 3.2 billion in 2017 and employs about 3,800 people at 20 production sites in nine countries. The company produces high-performance rubber for use in, for example, the automotive and tire industries, the construction industry, and the oil and gas industries.

The transfer of the business with synthetic rubber into the joint venture ARLANXEO was the foundation for LANXESS’ strategic realignment. Since then LANXESS has been focusing on growth in specialty chemicals markets and made various acquisitions in this area.

Please follow us on LinkedIn and Twitter and subscribe to our website and receive notifications of new posts by email.

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SUBSCRIBE TO OUR NEWSLETTER

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Paints and Coatings Expert will use the information you provide on this form to be in touch with you and to provide updates and marketing.
%d bloggers like this: