Oman Oil Company (OOC) has successfully concluded the acquisition of Oxea which was announced in October. Oxea is one of the largest global manufacturers of Oxo chemicals. With the acquisition, OOC aims to become a vertically integrated global chemical leader in the downstream industry.
"Oxea is an impressive company with a strong track record, highly diversified product portfolio and strong customer base. With its international presence in Europe and North America, leading technology, efficient platform and longstanding experience in the Oxo segment, Oxea will support our further expansion into the chemical sector,” said H.E. Nasser bin Khamis Al Jashmi, Chairman of Oman Oil Company.
Based at Frankfurt, Oxea produces more than 1.3 million tonnes of oxo products and derivatives annually. Its sales in 2012 totalled EUR 1.5 billion. The portfolio of more than 70 products is sold to producers of coatings, dyes, lubricants, flavours and fragrances.