02 October 2011 10:32 [Source: ICIS news]
BERLIN (ICIS)--Oxea will continue to expand its oxo-derivatives as part of a strategy to diversify its product portfolio, an executive with the Germany-based producer said on Sunday.
Miguel Mantas, managing director and a member of the Oxea board, said the company, which produces oxo-intermediates and oxo-derivatives, has been moving steadily in the direction of derivatives, such as carboxylic acid, polyols and specialty esters, for the past two years “and will continue to do so”.
“The goal is to have more balanced equilibrium between our intermediates and our derivatives in the sense derivatives have a different, or a lower cyclicality, than the intermediates,” Mantas said on the sidelines of the 45th annual European Petrochemical Association (EPCA) meeting.
Revenues for oxo-derivatives in 2010 amounted to €422.1m ($565.6m), a 53.4% increase over the previous year.
Revenues for oxo-intermediates totalled €943.2m in 2010, an increase of 53.9%.
Oxea announced in February it will increase its specialty esters production capacity at Oberhausen, Germany, from the second half of this year.
The capacity of its existing ester unit would be increased by 40% this year and a new unit will come on line in the second half of 2012, the company said in a statement.
Oxea produces 130,000 tonnes/year of butanol, 540,000 tonnes/year of butyraldehyde and 300,000 tonnes/year of ethylhexanol at its Oberhausen site, according to ICIS data.
Its products are used in the making of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavourings and fragrances, printing inks and plastics.
($1 = €0.75)
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