Oxea has completed the planning stage for its first oxo derivatives plant in Nanjing Industrial Chemical Park, China, and construction is underway, the company said on Thursday.
Oxea expects its new Nanjing plant to be mechanically complete at the end of 2013.
The new production site will serve the fast-growing demand for oxo derivatives in China and Asia, according to the company.
Oxo derivatives are key ingredients and are used in nearly all sectors of Chinas economy, including automotive, construction, cosmetics, pharmaceutical and personal care products.
China is the main growth engine for the Asia-Pacific region, said Miguel Mantas, Oxea executive board member for marketing and sales. Thanks to the favorable strategic location of our new plant, we will be able to better serve our customers in the region and at the same time further strengthen Oxeas leading global market position.
The Oxea Nanjing plant will produce specialty esters, phthalate-free plasticizers and other oxo derivatives for the local market.
"But we already have plans for new investments into the plant -- along with sufficient space and resources to implement future expansions at Nanjing, Mantas said.
Cristóbal Ascencio, vice president of marketing for Oxea's oxo derivatives business, addressed the manifold application areas of specialty esters that will be produced at Nanjing.
Our new plant will allow us to service the booming Asian market for plasticized PVB film, which is used in safety glass laminates for automotive, architectural, and decorative glass," he said. "And, among others, our specialty esters are important building blocks for the production of eco-efficient lubricants for compressors.