Oman Oil Acquires Oxea

Noria news wires
Tags: synthetic lubricants

Oman Oil Co. (OOC) recently acquired Oxea, a leading producer and supplier of Oxo chemicals to the merchant market for products like aldehydes, esters and carboxylic acids.

With operations in the Americas, Europe and Asia, Oxea produces more than 70 Oxo chemicals for customers in a wide range of industries, including pharmaceuticals, lubricants, aromas and scents, paints and lacquers, adhesives, safety glass, cosmetics and plastics.

"With its strong market position and unique expertise, Oxea will strengthen our position in the global chemical sector and contribute to Oman Oil Co.'s long-term downstream strategy," said Mulham Al Jarf, deputy chief executive officer of Oman Oil Co. "This will provide adequate scope for growth in Duqm's economic zone as well as other planned projects in industrial areas in Oman. The jobs created in this relatively uncharted sector and especially from projects of this magnitude will develop a platform for further human capital development and growth."

"We are convinced that we can bring our expertise and technological footprint to support Oman Oil Co.'s objectives, while at the same time Oxea can benefit from additional access to growth regions in Asia and the Middle East," said Martina Flöel, managing director of Oxea.

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