A new name will be installed on Chemical Row in Orange. The “Lanxess” sign will be replaced with Arlanxeo in April after federal authorities have approved a joint venture by Lanxess and Saudi Aramco.
According to a media release, the name change will begin April 1. In September last year, Lanxess and the Aramco signed an agreement to create a multi-billion joint venture. The venture is a 50-50 agreement, according to the media release. Aramco is a state-owned company of Saudi Arabia and Lanxess is based in Germany.
“Under its new name, Arlanxeo will build on the customer focus, recognition and reputation of both Saudi Aramco and Lanxess, which both partners are very proud of,” said Abdulrahman Al-Wuhaib, senior vice-president Downstream, Saudi Aramco.
Matthias Zachert, chairman of the board of management of Lanxess will be the chairman of the shareholders’ committee of Arlanxeo. The new company will have its headquarters in the Netherlands.
The media release said the partners will soon appoint the management team to run the joint venture. Each partner will have equal representation on the boards. The CEO will be appointed by Lanxess and the CFO by Saudi Aramco.
Lanxess is a specialty chemicals company with about 16,300 employees in 29 countries. The company has been developing plastics, synthetic rubber, intermediate and specialty chemicals.
The Lanxess plant in Orange has previously been owned by Bayer, Polysar and B.F. Goodrich.
DuPont Sabine River Works, which was the first petrochemical plant on FM 1006, known as “Chemical Row” for the number of manufacturing plants, may also be have a name change later this year.
Dow Chemical and DuPont announced a merger in December. On Friday, the companies announced a three-way split into agriculture, material sciences and specialty products. The split is predicted to come 18 to 24 months after the merger has been approved sometime later this year.
According to a media release Friday, the specialty products unit and the agriculture unit will be headquartered in DuPont’s corporate home of Wilmington, Delaware, and feature the name of DuPont.
The material sciences company will be based in Dow’s home of Midland, Michigan, and have the name of Dow.
No changes have been made at this time for the Sabine River Works.
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