Oxea Group – a chemical company whose products are used in lubricants – recently launched its business operations under the ownership of investor Advent International. Last December Advent acquired selected businesses of Celanese Chemicals and chemical company European Oxo, a joint venture of Celanese and Degussa, for 480 million (U.S. $633.1 million).
The acquisitions were consolidated into a new company following approval by antitrust authorities. The product range of the transferred businesses remains intact, and Oxea will take over existing contracts and orders.Oxea Group employs 1,300 people atproduction sites in Germany, in Oberhausen and Marl; and in the United States, in Bay City and Bishop, both in Texas. Oxea produces and markets polyols, solvents and oxo derivatives worldwide.