Cathay Industries has reached agreement to divest its High Purity Iron Oxide operations in Valparaiso, Indiana to Sun Chemical, effective July 2, 2018.
The sale will include the plant in Valparaiso and all Cosmetic related business world-wide. Cathay Industries will continue to represent Sun Chemical in servicing the non-cosmetic High Purity Iron Oxide, Magnetic Oxide and water treatment applications outside of America, from the Valparaiso plant.
The divestment allows Cathay Industries to focus on our traditional Iron Oxide Pigment range into the Construction, Paint & Coating, Paper, Plastics and other chemical applications from our global operations and provides the opportunity for further investment into Cathay’s market leading technology and innovation, to support the global market.
The divestment is consistent with our global Iron Oxide Pigment strategy, said Cathay’s Global CEO Mr. Terence Yu
CATHAY INDUSTRIES has been awarded the Silver status by Ecovadis 3 years in a row.
In every category from environment to fair business practice, CATHAY INDUSTRIES is among the “TOP 17 % of suppliers” assessed by EcoVadis. Continuously acting in an environmentally conscious and socially responsible manner, we strive to develop our activities towards the Gold level.
EcoVadis is an organization actively evaluating companies across the globe with an aim to support them to improve their ecological and social practices. A rating based on 21 criteria out of the subject areas like environment, social, ethic and supply chain has been developed for measuring the CSR performance of a business. To reach a Silver status, CATHAY INDUSTRIES has proven its reliability of all examined aspects, confirming the company’s commitment in short and long-term business activities.
CSR Rating is essential not only in our society but also in today’s working environment, companies worldwide are implementing measures for a sustainable development. CATHAY INDUSTRIES had already been certified according to the international norm ISO 14001 for its environmental management system on top of the existing ISO 9001 Quality Certification and OHSAS 18001 regulations. As one of the world’s leading manufacturers of synthetic iron oxides, we are making every effort towards sustainability.
CATHAY INDUSTRIES awarded silver status by CSR specialist ECOVADIS.
“ECOVADIS is a well-recognized certifying body in the field of Corporate Social Responsibility (CSR). As such it independently assesses companies for high levels of responsibility outside the daily economics”, said Cathay Industries Australasian Managing Director Mr Steven Spackman. “The methodology of ECOVADIS covers a substantial criteria including fair business conduct, respect for human rights, care for environment and labour practices, providing a rating for sustainable development”, ” and further emphasises CATHAY’s commitment, accountability and responsibility for all aspects of short and long terms business activities” said Mr Spackman