Oxea Raises Carboxylic Acid Production to Expand into Growth Markets & Oxo Derivatives

OBERHAUSEN -- In the presence of Klaus Wehling, Lord Mayor of Oberhausen, Dr. Martina Floel, 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 Oxeas 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 Oxeas Executive Board. "The new unit will provide an additional boost to our capabilities. It will considerably increase Oxeas 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 Floel. "The building of a new carboxylic acid production unit supports an important aspect of our strategy of expanding into growth markets and oxo derivatives."

About Oxea

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 ?.5 billion with approximately 1,400 employees in Europe, the Americas and Asia.