European Oxo will focus on Europe
European Oxo GmbH (EOXO), a Joint Venture of Celanese and Degussa, will concentrate its business activities on Europe. Currently, the business supplies a sizable volume of its Oxo-alcohols into Asian markets. New capacities coming onstream in that region as well as changes in the global markets will make the supply of the Asian markets unprofitable. EOXO will adjust its production to these developments. "As a leading supplier of Oxo-chemicals we have a first class customer base. With the restructuring EOXO will improve its flexibility for Europe and create a solid platform for future growth through portfolio enlargement or cooperations." explained EOXO Exec. VP Dr. Martina Flöel.
The accommodation to the changed global markets has no impact on the product portfolio: EOXO will continue to supply plasticizer (DOP), solvents and chemical intermediates. The capacities dedicated to the European markets will not change. European customers will be supplied equally flexibly and reliably as in the past. EOXO continues to operate in Marl and Oberhausen. In connection with the decided shut down of the Marl Butanol unit a comprehensive personnel plan has been developed for the approximately 40 employees affected by this change. There will be no terminations related to this restructuring. There will be no changes for the Oberhausen site.
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