Oberhausen, Germany -- Chemical company Oxea will build its first Chinese plant to make oxo derivatives in Nanjing in 2012. Scheduled to go on-stream in 2013, the plant will serve the fast-growing demand for oxo derivatives in China and Asia, the company said.
"In a first step our Nanjing plant will produce Oxea's specialty esters, phthalate-free plasticisers and other oxo derivatives. However, we have allowed space for future expansion and new investments," said Miguel Mantas, board member for marketing and sales, in a company statement.
Oxea said that Oxo derivatives, which include polyols, are key ingredients in automotive, construction, cosmetics, pharmaceutical and personal-care products.
This investment will establish a new production platform for Oxea in China and is part of Oxea's overall strategy to expand into growth regions, the company noted.
"China is the main growth engine for the Asia-Pacific region, and at this strategic location our new plant will greatly support our local customers there. ... The new plant will enable Oxea to better serve the steadily growing high demand for our products in China and Asia and at the same time further strengthen Oxea's leading global market position," Mantas continued.