Netherlands rubber firm seeks Saudi expansion through collaboration deal
Arlanxeo entered into a collaboration framework with Dhahran Techno Valley Co. (DTVC), wholly owned by King Fahd University of Petroleum and Minerals (KFUPM), to expand the next phase of its growth plans in Saudi Arabia.
Both parties seek to develop products and applications relevant for Arlanxeo’s elastomers businesses, the Netherlands-based synthetic rubber company said in a statement.
The collaboration will witness the establishment of a technical research and development (R&D) center by Arlanxeo in Dhahran Techno Valley, Saudi Arabia.
“We seek to leverage the technical know-how and core competencies of DVTC and KFUPM to build an innovative elastomers industry in Saudi Arabia,” Donald Chen, CEO of Arlanxeo, said.
“This cooperation would give Arlanxeo the opportunity to capture the expertise of highly qualified research and academic personnel from DTVC and KFUPM,” Abdulaziz Al-Judaimi, Saudi Aramco’s Senior Vice President of Downstream, said.
He added that this step could contribute to the company’s growth as well as Saudi Aramco’s broader chemicals growth strategy.