International. Oman Oil Company (OOC), a trading company wholly owned by the Government of the Sultanate of Oman, completed the acquisition of Oxea. The purchase price was not disclosed.
Oxea is one of the world's largest manufacturers of Oxo chemicals and with the acquisition, the OOC hopes to become a major chemical player in the industry.
"Oxea is an impressive company, with a strong track record, highly diversified product portfolio and a strong customer base. With its international presence in Europe and North America, technology, efficient platform and long experience in the Oxo segment, Oxea will support our expansion in the chemical sector," said Nasser bin Khamis Al Jashmi, Chairman of Oman Oil Company.
Martina Floel, spokesperson for the executive board at Oxea on behalf of the board of directors, said that "Oxea is the number one Oxo trader and occupies a leading position as a manufacturer of Oxo products and derivatives. Since its founding in 2007, it has successfully diversified the company's activities in derivatives and has invested in expanding capacity and our presence in mature and emerging markets. We look forward to working together with OOC that will provide additional access to growth markets in Asia and the Middle East."
