Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Oman Oil Co successfully concludes Oxea purchase  Join our daily free Newsletter

MENAFN - Muscat Daily - 10/12/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Muscat Daily) Oman Oil Co (OOC), a commercial company wholly owned by the Oman government, has successfully concluded the acquisition of Oxea which was announced in October. The purchase price was not disclosed.

Oxea is one of the largest global manufacturers of Oxo chemicals.

With the acquisition, OOC aims to become a vertically integrated global chemical leader in the downstream industry, a press release said.

''Oxea is an impressive company with a strong track record, highly diversified product portfolio and strong customer base. With its international presence in Europe and North America, leading technology, efficient platform and longstanding experience in the Oxo segment, Oxea will support our further expansion into the chemical sector,'' said H E Nasser al Jashmi, chairman of OOC. 

Philippe de Fitte, vice president, downstream strategic business unit of OOC, added, ''There is a unique opportunity to build an integrated chemical platform in Oman from our current investment base. We see our acquisition of Oxea as the corner stone for this platform by bringing its technology and expertise to Oman and connecting it to feedstock from our investments in Duqm. This will also contribute to Oxea's expansion strategy, especially in the Asian growth markets while OOC benefits from Oxea's reach into European and North American markets.'' 

Martina Fl?el, spokeswoman for the executive board at Oxea on behalf of the management board, said, ''Oxea is the No 1 Oxo merchant and holds a leading position as a manufacturer for Oxo products and derivatives. We look forward to working together with OOC which will provide additional access to growth markets in Asia and the Middle East.'


 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help