OBERHAUSEN, Germany, March 1 /PRNewswire/ -- Today, the Oxea Group
launched its business operations under the ownership of investor Advent
International. In December of 2006, Advent International took over selected
businesses of Celanese Chemicals and chemical company European Oxo, a joint
venture of Celanese and Degussa, for the purchase price of EUR 480 million.
The companies were consolidated into a new company following approval by
the antitrust authorities. The product range of the transferred businesses
remains fully intact, and existing contracts and orders will be taken over
by Oxea. The Oxea Group has proforma annual sales of EUR 1.2 billion and
employs some 1,300 people at four production sites in Germany and the
United States. On a worldwide scale, Oxea produces and markets polyols,
solvents and oxo derivatives.
    "Globally, we offer our customers a well-matched product portfolio
along the entire value chain of oxo chemicals. As a result, the new Oxea
Group is one of the largest suppliers of different solvents, polyols,
carboxylic acids, alkyl amines and olefin derivatives for various
applications such as coatings, dyes, lubricants and plastics", said Dr.
Martina Floel, spokesperson of the Oxea management board. She continued:
"The investment of Advent International and the integration of the various
businesses will enable us to optimize our value chains and consider
expansion toward Eastern Europe or Asia in addition to maintaining our
strong focus on Europe and North America."
    "We have great experience in the integration and refocusing of
companies" said Ronald Ayes of Advent International. "With Oxea, we see
very large potential for future growth. We will use our resources and our
sector network to support this potential over the long term."
    About Oxea:
    Oxea was established in March of 2007 as a result of the merger of
European Oxo and selected businesses of Celanese Chemicals. Among others,
the company globally manufactures and markets solvents, polyols and oxo
derivatives such as carboxylic acids and alkyl amines for a large variety
of applications. They are used for instance in high-quality coatings,
lubricants, cosmetic and pharmaceutical products, flavors and fragrances,
dyes and plastics. Oxea has proforma annual sales of about EUR 1.2 billion
and employs some 1,300 people in Germany (Oberhausen and Marl) and the
United States (Bay City and Bishop). They are supported by an experienced
sales team in Oxea's most important markets worldwide.
    Press contact:
    OXEA GmbH, Otto-Roelen-Strasse 3, D-46147 Oberhausen
    Birgit Reichel, phone +49-208-693-3112, fax +49-208-693-3101
    B.Reichel@oxea-chemicals.com, http://www.oxea-chemicals.com

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