Degussa A.G.'s antioxidant group has a new parent and has been renamed Oxiris Chemicals GmbH, but officials say it's business as usual at the operation.
The Barcelona, Spain-based operation was purchased in May by Arques Industries A.G., a venture capital company in Munich, Germany.
However, that and its new name are really all that has changed, according to Peter Williams, Oxiris Chemicals' global sales manager for antioxidants.
The newly created company continues to operate out of its Barcelona plant, its focus and brands are unchanged, and the firm's work force of 150 remains intact, he said at the International Latex Conference, where its new name was officially unveiled.
In fact, Degussa's global sales network continues to represent Oxiris Chemicals.
``So we have the support of our own parent company and Degussa,'' Williams said.
He said Degussa continues to remain active in the latex industry and operates units that support that market.
``Our business is active on five continents and in 100 countries,'' he said. ``We have 400 customers worldwide in over 30 industrial sectors. So business has been good.''
The acquisition by Arques makes Oxiris Chemicals a more dynamic company and more responsive to its customers, according to Williams, who said the support the firm was receiving from Degussa has been invaluable.
``We are well represented by Degussa, and we want to maintain that relationship as long as we can,'' he said.
Oxiris Chemicals, with annual revenues of about $55 million, had been a small part of Degussa's Building Blocks division, which has revenues in the $1.5 billion range.