MONHEIM AM RHEIN, Germany--(BUSINESS WIRE)--The global chemical company Oxea has decided to further expand its production capacities for TCD Alcohol to meet market demand. Following a successful initial feasibility study, the Board of Directors approved the capacity increase investment for TCD Alcohol in Oberhausen, Germany. Basic engineering is about to begin, and Oxea expects the additional capacity to be available by the second half of 2021. TCD Alcohol finds uses in optoelectronics, packaging, automotive applications, as well as in specialty adhesives and surface coating systems.
“Oxea has initiated this capacity increase project for this important, highly functional molecule as a commitment to our customers. We feel responsible for supplying the market by increasing product availability and strengthening supply reliability. Once the project has been completed in 2021, we expect to cover the anticipated demand of the global TCD Alcohol market for the upcoming years,” said Jorge Moshe Castro Roldan, Global Business Director Specialty Polyols, Higher Aldehydes & Amines at Oxea.
“With the strategic investment into the new TCD Alcohol capacity expansion project Oxea continues on its successful growth path and further strengthens its global leadership position,” commented Markus Hoschke, Executive Vice President Global Marketing & Sales at 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. Oxea employs more than 1,400 people worldwide. Oxea is part of the Oman Oil Company S.A.O.C. (OOC), a commercial company wholly owned by the Government of Oman. Established in 1996, it pursues investment opportunities in the wider energy sector both inside and outside Oman. OOC plays an important role in the Sultanate's efforts to diversify the economy and to promote domestic and foreign investments.
For more information about Oxea, visit www.oxea-chemicals.com.