Oxea has officially changed its corporate name to OQ Chemicals as a mark of its final integration into the newly formed energy company OQ. The company believed that complementing the name change is a new corporate identity, reflecting the potential of the group.
Integration to Support Business Expansion
The integration plan aims to develop a unique integrated model that delivers sustainability and business excellence. The integration plan goal to double EBITDA in the next 10 years and investing over USD 28 Bn in new projects.
OQ will continue to offer the same service level and support for the growth and success of its customers. In 2021, OQ aims to add 30 percent to its company’s total production capacity for carboxylic acids with a sixth world-scale production plant. For the same year, it plans to bring on-stream additional production capacity for TCD Alcohol that will cover the expected global demand for the coming years.
OQ Chemicals' products are used to produce high-quality coatings, printing inks, lubricants, cosmetics and pharmaceutical products, flavors, fragrances and plastics.
Source: Oxea