Oxea to form carboxylic acids JV in China

13 June 2008 14:58  [Source: ICIS news]

TORONTO (ICIS news)--Oxea plans to form a joint venture with Shenyang Zhangming Chemical to produce carboxylic acids in China and market the products worldwide, the Germany-based chemicals producer said on Friday.


The companies signed a memorandum of understanding for the joint venture which could also include carboxylic acid derivatives, Oxea said but did not disclose financial terms, capacity details or timelines.


"Together with our new partner we will soon be able to deliver highly demanded products to our customers in Asia quicker than before," said Oxea executive board member, Miguel Mantas.


Shenyang Zhangming Chemical was described as one of China’s largest producers of carboxylic acids and their derivatives.


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By: Stefan Baumgarten
+1 713 525 2653

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