General | 10-Jul-2018
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