OBERHAUSEN, Germany--(BUSINESS WIRE)--The global chemical company Oxea will further strengthen its Oxo-Derivatives portfolio by raising its Neopentyl Glycol (NPG) capacity at its production site in Oberhausen, Germany. The project is scheduled for completion by mid-2011 and will raise Oxea’s European capacity to 45,000 metric tons.
“In 2011 we will have completed the stepwise increase of our Neopentyl Glycol capacity in Europe which started in 2008. Global demand of this important building block for eco-efficient powder coating resins and lubricants continues to grow above GDP,” said Miguel Mantas, Executive Board member for marketing and sales. “In Asia, growth has remained strong even during the 2009 global crisis with the Chinese market already set to outpace Europe,” Mantas continued.
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, cosmetic and pharmaceutical products, flavorings and fragrances, printing inks and plastics. In the 12 months ending September 2010, Oxea generated revenue of about EUR 1.3 billion with approximately 1,330 employees in Europe, the Americas and Asia.
Further information about Oxea is available at www.oxea-chemicals.com.