Oxea's earnings rise on high sales volumes, new production

Oxea, a global supplier of oxo intermediates and oxo derivatives, reported strength in sales and earnings for fourth-quarter 2012, partially due to new production units on stream. Net income grew 56%, to €14 million ($18.6 million) year-on-year (YOY) due to a higher operating profit and lower net financial expense, the company says. Sales were up 4%, to €342.9 million YOY on higher volumes—with the majority of sales coming from Europe. Gross profit increased 38%, to €47 million, mainly due to higher sales and improved margins, the company...

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