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CIS PETROCHEMICALS

11 – 12 April 2019  |   Moscow, Russia

Saudi Aramco Completes Acquisition of ARLANXEO from Lanxess

Posted on 05-01-2019  by GBC 

Source: Saudi Aramco

Saudi Aramco’s purchase of LANXESS’s 50% share in ARLANXEO, valued at €1.5 billion on an enterprise value basis, makes it 100% owner of ARLANXEO, enabling further diversification of Saudi Aramco’s downstream portfolio, and strengthening the company’s capabilities across the energy and chemicals value-chain.

ARLANXEO is a world-class synthetic rubber and elastomer products company that supplies feedstocks to leading tire and auto-parts manufacturers around the globe. As a fully owned subsidiary of Saudi Aramco, ARLANXEO will accelerate development of growth opportunities integrating the strong feedstock position of Saudi Aramco.

In addition, full ownership of ARLANXEO will enhance Saudi Aramco’s sustainability efforts to optimize tire performance-related fuel consumption in line with its efficient fuel/engine R&D strategy, which is focused on increasing fuel efficiency and reducing engine emissions. All of these efforts are well-aligned with Saudi Aramco’s overarching downstream aspiration to drive value by expanding and integrating its portfolio and partnerships, as well as creating additional revenue streams.

Abdulaziz Al-Judaimi, Saudi Aramco Senior Vice President of Downstream, commented on the acquisition by saying: “ARLANXEO, now as a 100% owned Saudi Aramco subsidiary, represents an essential component to our global position in the chemicals market. Full ownership of ARLANXEO will further diversify Saudi Aramco’s downstream portfolio and strengthen capabilities along the energy and chemicals value chains. I am positive about the upside and the future of product innovation that will serve our customers around the world.”

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