JV

Lanxess Agrees to Sell 50% Stake in Arlanxeo to JV Partner Saudi Aramco

Lanxess AG recently announced that it signed an agreement on Aug. 8 to sell its 50 percent stake in Arlanxeo, a manufacturer of synthetic rubber, to state-owned Saudi Arabian Oil Co. The German-based specialty chemicals manufacturer first established Arlanxeo in 2016 as a 50–50 joint venture with the Saudi firm, which is also known as Saudi Aramco. The sale is...

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Kuraray Announces Plan to Form Butadiene Derivatives JV With PTTGC, Sumitomo

Kuraray Co. Ltd. (TYO:3405) announced on March 7 that it has inked a joint venture agreement with Sumitomo Corp. (TYO:8053) and Thai-based PTT Global Chemical PCL (PTTGC) for a butadiene derivative business. The three companies began detailed feasibility studies in September 2016. Ahead of the final decision on investment, they signed an agreement to hold further discussions and to file...

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Nexen Aims to Sell 1 Million Tires per Year in Japan by 2022

Following the January establishment of joint venture Nexen Tire Japan Inc., partners Nexen Tire Corp. and Toyota Tsusho Corp. (TYO:8015) are eager for their new JV to make a full-scale entry into the Japanese market. The company hopes to hit a landmark of 1 million annual unit sales by 2022, acknowledging the target is ambitious but believing it possible to...

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