Oxea and the Chinese listed Chengxing Group have signed an agreement with the Changzhou Municipal Government. This is for the approval of a land grant in the Changzhou Yangtze River Chemical Industrial Park on which will be built a plant for the production of amines and other chemicals.
Oxea and Chengxing are planning to form a new joint venture company with Oxea as the majority shareholder.
This is the first major investment for Oxea in China. Amines are mainly used for the production of pharmaceuticals, dyes, agrochemicals and polymer additives.