Oxea Lays Cornerstone for New Carboxylic Acid Plant
OBERHAUSEN, Germany – At a ceremony attended by guests from business and political arenas, Dr. Martina Flöel, spokesperson for the Executive Board of Oxea, laid the cornerstone for a new Oxea production plant, the Carboxylic Acid Plant 3. Slated to be completed this year, the new unit will boost Oxea’s global carboxylic acid production capacity by some 40 percent. The main driver for this capacity expansion is a growing global demand for synthetic fatty acids.
"Oxea is backward integrated in carboxylic acids value chains, based on its own hydroformylation technologies. This means that we supply our acids production units with precursors that we produce ourselves," said Flöel. "The building of a new carboxylic acid production unit supports an important aspect of our strategy of expanding into growth markets and oxo derivatives."