Oxea completes Acquisition of Production Plant in the Netherlands
OXEA announced that on August 1, 2009, it has completed the acquisition of assets of the Amsterdam esters Plant in Amsterdam, the Netherlands, from ExxonMobil Chemical Holland B.V. According to the company, the acquisition will significantly strengthen Oxea’s position in specialty chemicals and provide both an extension of its value chain as well as broadening its application basis. Oxea keeps all employees in Amsterdam and will integrate the acquired production plant into its existing infrastructure for manufacturing, sales and customer service. Esters are an organic group of compounds that are usually used in the production of coatings, lubricants, flavorings, cosmetic and pharmaceutical products.
"This acquisition represents an important milestone for Oxea. It is a major step in our strategy of expanding into growth markets while optimizing and enhancing our own value chain and product portfolio," said Dr. Martina Flöel, spokesperson for the Executive Board of Oxea. "Despite the ongoing global economic crisis we will continue to invest globally into assets that create value for Oxea and strengthen our product portfolio," Flöel added.
Oxea plans to enhance the existing operations of the new plant by bringing in additional expertise as well as base materials for the ester production itself. This will make the esters production more independent from third party suppliers and further improve Oxea’s supply flexibility.
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