On September 22, 2015, LANXESS and Saudi Aramco signed an agreement to create a 50:50 joint venture for the development, production, marketing, sale and distribution of synthetic rubber used in the global tire industry, auto-parts manufacturing and a wide range of other applications.

ARLANXEO will be headquartered in the Netherlands. The partners will soon appoint the management team that will run the joint venture. Each partner will have equal representation on the boards overseeing the company. The CEO will be appointed by LANXESS and the CFO by Saudi Aramco.

"With this joint venture of the world's largest producer of synthetic rubber and the world's largest integrated energy company, we have laid the foundations for the sustainable and positive development of ARLANXEO," said Zachert. "This is a win-win for our customers as well as for the employees of ARLANXEO. We are looking forward to the launch of this promising new partnership."
END