Oxea is one of the world's leading manufacturers of oxo chemicals for use in broad end-markets such as coatings, lubricants and inks. We formed Oxea in 2007 by merging two standalone intermediate chemicals businesses we acquired from Degussa (now Evonik) and Celanese.
Oxea's competitive advantage lay in its excellence across all areas of the value chain, from superior proprietary technology to a balanced product mix. Maximizing this advantage required the well-coordinated integration of the two businesses and a rigorous strategy to accelerate growth.
Supporting management, we realized significant cost-savings through purchasing and sales synergies. Investing in production facilities increased output and removed bottlenecks. Building on new product opportunities, we helped Oxea diversify and expand its presence in both emerging and existing markets, allowing the company to achieve record revenues even when economic conditions became tough.
Now, with over 1,400 employees, five production plants across Europe and the US and sales offices in Asia and Latin America, Oxea is a world-class business with a broad customer base and impressive earnings growth. In December 2013, we sold Oxea to the Oman Oil Company, well-positioned to begin the next phase of its corporate development.