Company Profile
OXEA Corporation
Company Overview
OXEA is a world leader in Oxo chemicals
OXEA started in March 2007 as a buyout of assets and a joint venture from Celanese and Evonik.
With a production capacity of over 1.2 million tons per annum and sales of about €1 billion we are producing more than 60 Oxo chemicals for customers in a wide range of industries with various end market applications.
Oxo chemicals are the core competency of OXEA; we produce Oxo Intermediates and Oxo Derivatives. We are #1 or #2 globally in products like Aldehydes, Alcohols, Esters and have the broadest product portfolio and the largest capacity in Carboxylic Acids. Apart from these product groups we are also the sole manufacturer of some special Aldehydes, Diols, Specialty Esters and Olefin Derivatives. Some of our products are tailored for specific customers' individual needs.
OXEA is considered to be the technological and market leader in most of its product segments.
OXEA is a Portfolio-Company of Advent International.
Company History
OXEA was formed on March 1, 2007 when Advent International acquired the business from Celanese Corporation.
The acquired businesses comprised the Oxo Intermediates and Derivatives activities of Celanese, as well as the entire operations of European OXO GmbH ("EOXO"), a 50-50 joint venture of Celanese and Degussa AG.
Benefits
The Retirement Savings Plan is a defined contribution retirement plan, otherwise known as a 401(k) plan. The Plan is designed to provide an opportunity for saving on a tax-deferred basis. For every dollar contributed to the Plan (up to5% of pay), the Company will make a dollar-for-dollar matching contribution. Employees are vested in matching contributions after three years of service.
In addition to the matching contribution, the Company will make an additional 5% contribution to each employee’s 401k. The amount of the 5% contribution is based on all earned wages and will be deposited into funds of the employee’s choice within the 401k plan. Employees are vested in this contribution after three years of service.