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Degussa has agreed to sell Oxxynova to the German investment firm Arques Industries for roughly $30 million. Oxxynova makes and markets the polyester feedstock dimethyl terephthalate at sites in Steyerberg and L??lsdorf, Germany. Last year, it had sales of about $230 million. The deal is Arques's third in chemicals: It acquired the Rohner pharmaceutical chemicals business last year and Degussa's SKW Stahl-Metallurgie unit in 2004.
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