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.
Adjusted EBITDA increased from €45 million in Q1 2012 to 53 million in Q1 2013 (+18%), the third best quarterly result of Oxea since its inception in 2007.
Oxea, a global supplier of Oxo Intermediates and Oxo Derivatives, today announced for the fourth quarter of 2012 a strong earnings increase compared with the fourth quarter of 2011.
