Subject to approval by competition authorities, Oxea (Europe: Oberhausen / Germany; www.oxea-chemicals.com) plans to sell its Oberhausen LDPE and copolymers plant with an estimated capacity of 140,000 t/y to long-time cooperation partner Polimeri Europa (Milan / Italy; www.polimerieuropa.com). The companies and their predecessors have been partners at Oberhausen since 1984, with Oxea last having responsibility for production and technology while Polimeri handled product development, marketing and sales. All staff will be retained at the same conditions. Closing of the deal, for which no terms are being disclosed, is scheduled for July 2010.

Oxea said the sale of the LDPE plant is a “further consequent step” in its plans to focus on its core portfolio of oxo intermediates and derivatives, including a number of products used in the plastics industry. The takeover of the polyethylene unit by established player Polimeri will be a positive contribution to safeguarding the Oberhausen site and jobs there, the German company added. Once part of the Hoechst group, Oxea currently has annual sales of EUR 1.2 bn and 1,350 employees worldwide. It recently transferred ownership of the synthesis gas plant at Oberhausen to Air Liquide.