Media ININ Economy We Trust
MediaIn / Riyadh December 31,
Saudi Aramco, the world’s leading integrated energy and chemical company, has announced that it has completed the acquisition of Lanxis’s stake in the Arlanccio Holding Bio project, Lanxis AG, Germany’s leading specialist specialty chemicals company based in the Netherlands. In 2016.
Saudi Aramco has acquired a 50% stake in the Arlanccio project, valued at € 1.5 billion, based on the full value of the facility. The acquisition will strengthen Saudi Aramco’s efforts to diversify the company’s refining, processing and marketing business and its value chain In the field of energy and chemicals.
Arlancusio is one of the world’s leading manufacturers of synthetic rubber and elastomer plastics, which is supplied to major tire manufacturers and automotive parts worldwide. Saudi Aramco’s acquisition of Arlanccio will further develop global growth opportunities, complementing Aramco’s strong position in providing Feeding.
The acquisition will support Saudi Aramco’s sustainability efforts to improve fuel efficiency associated with tire performance, in line with Saudi Aramco’s research and development strategy for fuel efficiency and engines, which focuses on increasing fuel efficiency and reducing engine emissions. This is largely in line with Saudi Aramco’s overall ambitions for refining, processing and marketing, which aim to enhance value through the expansion and integration of its business and partnerships, and the creation of additional revenue streams.
