COLOGNE, Germany—The joint venture for synthetic rubber production that will be owned equally between Lanxess A.G. and Saudi Aramco will be called Arlanxeo.
The name and logo, which includes the description “Performance Elastomers,” combines elements from the names and logos of both partners, the German polymer and chemicals company said in a news release.
According to the company, all relevant antitrust authorities had been cleared for the transaction, clearing the way for its launch on April 1.
“Arlanxeo will be a strong company of two strong partners. This is also reflected in the new name of the company,” said Matthias Zachert, chairman of Lanxess, said in a news release.
“We will establish Arlanxeo as a new and independent player in the global market for synthetic rubber,” added Zachert, who will become chairman of the shareholders' committee of Arlanxeo, headquartered in the Netherlands.
The firms soon will appoint the management team that will run the joint venture, and the Lanxess said in the news release that each partner will have equal representation on the boards overseeing the company. Lanxess will appoint the CEO, and Saudi Aramco will be appoint the CFO.