Germany's Oxea to build first China-based chemical plant
28 October 2011 16:14 [Source: ICIS news]
LONDON (ICIS)--Germany-based Oxea is to build its first chemical plant in ?xml:namespace>Nanjing, China, in 2012, the global oxo chemicals company said on Friday.
The investment will establish a new production platform for the company in China and is part of its overall strategy to expand into growth regions, Oxea said.
The plant will supply oxo derivatives to markets in China and Asia and will begin production in 2013, the company added.
“China is the main growth engine for the Asia-Pacific region, and at this strategic location our new plant will greatly support our local customers there. In a first step our Nanjing plant will produce Oxea’s specialty esters, phthalate-free plasticisers and other oxo derivatives,” executive board member Miguel Mantas said.
“The new plant will enable Oxea to better serve the steadily growing high demand for our products in China and Asia and at the same time further strengthen Oxea’s leading global market position,” Mantas added.
Oxea was not immediately available to comment on financial or capacity details.By: Leigh Stringer+44 208 652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.