EANS-News: Oxea GmbH / Cornerstone ceremony for new Oxea carboxylic acid plant in Oberhausen

Oberhausen (euro adhoc) -

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Cornerstone ceremony for new Oxea carboxylic acid
plant in Oberhausen
In the presence of Klaus Wehling, Lord Mayor of Oberhausen, Dr. Martina Flöel, spokesperson of the Executive Board of Oxea, laid the cornerstone for a new Oxea production plant, the so-called Carboxylic Acid Plant 3. More than 50 guests from the business and political arena as well as site partners and employees participated in the festivities. The plant is slated to be completed in record time this year. The new unit, which represents an investment in the tens of millions, will boost Oxea´s global carboxylic acid production capacity by some 40 percent. This will also have a positive impact on the job situation: Oxea has already hired 12 new employees.

The main driver for this capacity expansion is a growing global demand for synthetic fatty acids. They form the basis for manufacturing energy-efficient lubricant esters for environmentally friendly refrigeration units such as air conditioners and refrigerators or phthalate-free plasticizers.

"Oxea is the leading carboxylic acids producer. We have the largest production capacity and the broadest product portfolio in synthetic carboxylic acids worldwide," said Miguel Mantas, responsible for Marketing and Sales within Oxea´s Executive Board. "The new unit will provide an additional boost to our capabilities. It will considerably increase Oxea´s supply capacity, improve our flexibility and enhance our ability to support the growth of our customers."

"Oxea is backward integrated in carboxylic acids value chains, based on its own hydroformylation technologies. This means that we supply our acids production units with precursors that we produce ourselves," said Flöel. "The building of a new carboxylic acid production unit supports an important aspect of our strategy of expanding into growth markets and oxo derivatives."

Oxea is a global manufacturer of oxo intermediates and oxo derivatives such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavorings and fragrances, printing inks and plastics. In the 12 months ending September 2011, Oxea generated revenue of about EUR1.5 billion with approximately 1,400 employees in Europe, the Americas and Asia.

For more information visit www.oxea-chemicals.com

end of announcement euro adhoc

company: Oxea GmbH
Otto-Roelen-Straße 3
D-46147 Oberhausen
phone: +49(0)208 693 3112
FAX: +49(0)208 693 3101
mail: birgit.reichel@oxea-chemicals.com
WWW: http://www.oxea-chemicals.com
sector: Chemicals
ISIN: XS0523636594
stockmarkets: Open Market: Frankfurt
language: English

Rückfragen & Kontakt:

Birgit Reichel
phone +49 (0) 208-693-3112, fax +49 (0) 208-693-3101
birgit.reichel@oxea-chemicals.com, www.oxea-chemicals.com