OXO CHEMICALS
June 1st, 2003
BY KEITHNUTHALLTHE CREATION of an international joint-venture, manufacturing oxo chemicals - which are a key ingredient of many synthetic fibres - has been agreed by the European Commission. It has approved the 50/50 initiative involving German chemical producers Celanese AG and Degussa AG; it will trade as European Oxo Chemicals (EOC). Brussels had initially been concerned about the combined strength of its parents, but has concluded that competition will prevent EOC from raising prices in the oxo chemical sector. It will manufacture butyraldehyde, butanol, ...
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