Sun Chemical Acquires High-Purity Oxides Business of Cathay Industries
CINCINNATI, OHIO, U.S.A. – July 2, 2018 – Sun Chemical and its parent company, DIC Corporation, have acquired the high-purity iron oxides business of Cathay Industries, located in Valparaiso, Indiana, U.S.A.
The purchase includes the customers, property and all assets related to the business located at the Valparaiso site.
“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,” said Myron Petruch, DIC Executive Officer and President of Sun Chemical Performance Pigments. “The demand for the unique, ultra high-purity products produced at this site will continue to grow rapidly across the globe, as the cosmetics industry continues to tighten specifications and implement new regulations to ensure the highest purity raw materials in all of their products.”
The acquisition demonstrates the commitment of DIC and Sun Chemical to sustainability, as these ultra high-purity iron oxides are COSMOS (COSMetic Organic Standard) certified.
“DIC and Sun Chemical continue to transform their overall product portfolio, with focus on high value, high growth specialty product lines and markets,” Petruch said. “This acquisition fits this strategy perfectly.”
Terms of the transaction were not disclosed.
About Sun Chemical
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our Web site at sunchemical.com.