8 August 2018
VIEW SAUDI ARAMCO'S TRANSFORMING ENERGY VIDEO
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.
Website of Arlanxeo's business units
High Performance Elastomers (HPE)
www.baypren.com
www.keltan.com
www.levamelt.com
www.levapren.com
www.nbr.arlanxeo.com
www.therban.com
Tire & Specialty Rubbers (TSR)
www.tsr.arlanxeo.com
DETAILS
- Joint venture valued at EUR 3.0 billion
- LANXESS plans to reduce financial debt position
- CEO Matthias Zachert:
“Another milestone on our path of transformation.”
LANXESS plans to sell its remaining 50 percent stake in
to its joint venture partner Saudi Aramco.
The two companies, that founded ARLANXEO in 2016
as a 50:50 joint venture
for synthetic rubber, signed a respective agreement today.
The transaction is still subject to
approval of the relevant antitrust authorities.
At the same time, information or consultation
of the competent employee representative bodies
will take place.
The parties expect to complete the envisaged transaction
by the end of 2018.
The total joint venture ARLANXEO
is valued at EUR 3.0 billion.
LANXESS expects
to receive approximately EUR 1.4 billion in cash
after deducting debt and other financial liabilities
for its 50 percent share.
LANXESS plans to use the proceeds
to strengthen its financial basis
and reduce net financial debt.
Originally, LANXESS and Saudi Aramco
agreed on a lock-up period until 2021 for both partners.
Matthias Zachert,
Chairman of the Board of Management
“With the envisaged transaction
we would complete another important milestone of
our strategic transformation earlier than originally planned.
This should allow us to
even better focus on our position
as a leading player
in mid-sized specialty chemicals markets,”
“At the same time, we
* increase the resilience of our business,
* strengthen our financial basis
* and gain additional strategic flexibility for further growth.“
Headquartered in Maastricht/Netherlands,
ARLANXEO 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.
Back in 2016, 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 mid-sized specialty chemicals markets
and made various acquisitions in this area
– with the takeover of the U.S. chemical company
Chemtura in 2017 as the biggest one
CONTACT LANXESS
Information on Saudi Aramco:
www.saudiaramco.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
