OQ Chemicals Invests in Oberhausen Site
German oxo chemicals producer OQ Chemicals has announced plans to invest a “double-digit million euro” sum until the end of 2023 at its Oberhausen site as part of an efficiency drive.
The move will lead to the loss of about 90 jobs in the company’s production and service functions. The OQ Group employs about 6,500 people worldwide, of which about 1,100 are in Germany.
Oliver Borgmeier, managing director of OQ Chemicals, said the company launched its Oxolution efficiency program in the fall of 2019 in response to increasingly fierce international competition.
The measures will increase delivery capability, organizational efficiency, digitalization and automation at Oberhausen. “With these changes, we are taking necessary and important steps to position this site economically in the long term,” Borgmeier said.
Formerly known as Oxea until May 2020, OQ Chemicals is part of Oman’s energy and petrochemicals giant OQ.
Author: Elaine Burridge, Freelance Journalist
