Oxea GmbH

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

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Company Information

Oberhausen (euro adhoc) - 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

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

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