Oxea acquires assets of ExxonMobil’s facility in Amsterdam

04-Aug-09

With effect from August 1, 2009, Oxea has finished the acquisition of assets of the Amsterdam Esters Plant in Amsterdam from ExxonMobil Chemical Holland B.V. 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”. 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. Oxea is a global supplier of solvents, polyols and oxo derivatives such as carboxylic acids, esters and amines. These products are used for the production of high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavorings and fragrances, printing inks and plastics. Oxea has annual sales worth about €1.2 bln and employs approximately 1,350 people in Europe and the United States.