Oxea to build new amines plant in China
German chemical company Oxea has partnered with a Chinese listed company to build a plant to produce amines and other chemicals.
German chemical company Oxea has partnered with a Chinese listed company to build a plant to produce amines and other chemicals.
Amines are mainly used for the production of pharmaceuticals, dyes, agrochemicals and polymer additives.
The agreement is dependent on Oxea and Chengxing gaining land grant approval from the Changzhou Municipal Government to build in the Changzhou Yangtze River Chemical Industrial Park.
It is the first major investment for Oxea in China to better serve its customers worldwide and participate in this fast growing market.
"Our new plant will primarily serve customers in China and Asia but we will also cater to the global markets," said Miguel Mantas, member of the Oxea executive board. "And the new site could be the nucleus for other products because we continue to pursue our strategy of expanding into growth markets while optimising and enhancing our own value chain and product portfolio", he said.
Chengxing Industrial Group, based in Jiangyin, China, is one of the world's leading phosphorous chemicals manufacturers with revenues of EUR 1.6 billion in 2007. Additional divisions include petrochemicals, coal chemicals, trading and logistics, and general investments. One of Chengxing's subsidiaries, Xinya Chemicals located in Changzhou, is a leading amines and derivatives producer in China. Chengxing Group is listed at the Chinese stock exchange.
Oxea is a global supplier of oxo products and olefin derivatives. The company is an international market leader in the production of acetates, alcohols, amines, carboxylic acids and aldehydes. Oxea has offices in Oberhausen and Marl, Germany and in Bay City and Bishop, US.