Sweden-headed global specialty chemicals innovator Perstorp, a wholly-owned subsidiary of Malaysia’s PETRONAS Chemicals Group Berhad (PCG), has announced that Perstorp Holding AB has acquired 100 percent of the shares of OQ Chemicals Nederland B.V. from Germany-headed OQ Chemicals GmbH.
OQ Chemicals (formerly Oxea) is a global manufacturer of Oxo Intermediates and Oxo Performance Chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines.
These are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavors and fragrances, printing inks, and plastics.
According to OQ Chemicals, the divestment of its Dutch esters plant in Amsterdam to Perstorp Group is part of a “strategic realignment to optimize operational efficiency and drive growth in core business areas.”
The deal, the value of which has not been disclosed, provides Perstorp with full ownership and control over all of the Dutch company’s production assets, related technology, and employees.
With this acquisition of OQ Chemicals Nederland B.V., we are further enabling our growth strategy and focus on the Specialty Chemicals sector as well as sustainable solutions, said Ib Jensen, President and CEO of Perstorp.
