Toward achieving cost savings in the double-digit million euro range, Germany’s OQ Chemicals, part of the Oman-based OQ energy group, has announced a cost-cutting scheme that will see it cut 10% of the workforce.
Ten years ago, in March 2007, oxo chemicals producer Oxea was established as a buyout led by private-equity firm Advent International of oxo derivatives and oxo intermediates businesses from Celanese and European Oxo.
Burkhard Quellenberg (47) is Oxea's new Global Director Human Resources.
Advent International announced its divestment from Oxea, one of the largest global manufacturers of oxo chemicals.
On September 20, 1938, the German chemist, Dr. Otto Roelen, then the research director at Ruhrchemie in Oberhausen (now Oxea), filed a patent application for the oxo synthesis.
Following the capacity increase of its syngas production facility in Bay City, Texas, USA, the chemical company Oxea is in the last stages of completion of a feasibility study of additional downstream plant expansion projects.
