One of Germany's leading chemical company is set to build new production plant in Nanjing.
Oberhausen-based chemical specialist, Oxea, has announced that it will build its first chemical plant for the production of oxo derivatives in the southerly city of Nanjing. The new plant will be located near China's famous Yangtze river at the Nanjing Chemical Industry Park, and will be up and running by 2013.
The state-of-the-art plant will primarily produce esters, phthalate-free plasticisers and other oxo derivatives to supply the fast growing demand in China and across the rest of Asia.
Derivatives manufactured by the company will supply nearly all aspects of China's growing economy, including automotive, construction, cosmetics, pharmaceuticals and personal care products.
Executive board member for marketing and sales, Miguel Mantas, sees China as the “main growth engine for the Asia-Pacific region” and hopes the new plant will enable the German manufacturer to “better serve the steadily growing high demand for oxo derivatives in China and Asia.”
Oxea products are used in the production of high-quality coatings, plastics and lubricants, and will be able to capitalise on China's growing automotive sector. Last year, the company generated revenue of around €1.5 billion ($2bn).