Cathay Industries is based in Kowloon, Hong Kong, and opened in 1979 (as Cathay Pigments Group). Since then the company has grown; and, as bloomberg.com describes it, “offers iron oxides, chrome oxides, titanium dioxides, heat stables, organic pigments, solvent dyes, food dyes, and umbers. It also provides a range of pigments, as well as chemicals related to color industries, including plasticizers, defoamers, dispersants, and cement and other additives.”
Cathay serves a spectrum of industries and “its products are used in various applications, such as battery, coating, construction, drugs, cosmetics, food additives, high temperature, leather coatings, magnetic inks, paints and colorants, paper, plastic, masterbatches, car refinish, audio/video tape, magnetic toners, transfer ribbons, printing inks, and other,” according to Bloomberg.
Neighboring business
Sun Chemical has its headquarters in Parsippany-Troy Hills, New Jersey. But, its performance pigments business in located in Cincinnati, Ohio. And the oxide business that Sun Chemical has acquired is just across state lines in Valparaiso, Indiana.
The acquisition was all-inclusive so far as that location is concerned. Sun Chemical purchased “customers, property and all assets related to the business located at the Valparaiso site,” a press release about the deal explains.
That facility, according to the Cathay Industries website (as of July 2018) specializes in “high purity iron oxide manufacturing.” Within the portfolio of products known as CathayPure iron oxide pigments, there are also E-grade iron oxides and Z-grade oxides. The Z-grade oxides are made so as to meet regulations set by a number of countries for use in both cosmetics and pharmaceutical products.
Shifting industry
Sun Chemical is (and has been since 1986) a member of Japan-based DIC Group. In his remarks to the press, that group’s executive officer and the president of Sun Chemical performance pigments Myron Petruch sustains that “This acquisition further demonstrates Sun Chemical and DIC’s commitment to be the leading and most innovative color and effects supplier to the global cosmetics market.”
“The demand for the unique, ultra high-purity products produced at this site will continue to grow rapidly across the globe,” anticipates Petruch, “as the cosmetics industry continues to tighten specifications and implement new regulations to ensure the highest purity raw materials in all of their products.”
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.