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Cathay Industries Announces Further Expansion with New Iron Oxide Plant in Indonesia

Cathay Industries (“Cathay”), a leading global iron oxide pigment manufacturer, signed an agreement to commission a greenfield Iron Oxide finishing plant in Batam, Indonesia.

“Following our recent agreement to acquire the Iron Oxide Pigment operations of Venator, we are further expanding our global capabilities in manufacturing and finishing technology, with our agreement to commission a world class Iron Oxide Pigment finishing and blending facility in Batam, Indonesia” said Mr. Terence Yu, Cathay Industries Global CEO.

“Pictured here following the signing of land arrangements with Mr. Pea Ngo Teo of PT Latrade Batam Indonesia, Mr. Yu confirmed construction will commence before the end of the year and is expected to be completed in time for the installation of state-of-the-art, environmentally compliant blending and finishing equipment as well as world class packaging lines by mid-2023.

The new facility aligns with Cathay’s commitment of providing certainty in sustainable supply of the highest quality iron oxide pigments throughout the region whilst meeting the Cathay Board’s strategic growth program. We are delighted to provide employment opportunities and build a long-term partnership with the local Batam community,” said Mr. Yu.

With the first supplies to commence in the latter part of 2023, the new plant will compliment Cathay’s global footprint.

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Cathay Industries Expands Its Global Footprint with the Acquisition of Venator’s Iron Oxide Pigment Operation

Cathay Industries today announced that it has entered into an agreement with Venator Materials PLC (NYSE: VNTR) (“Venator”) to purchase its iron oxide pigment business.

Cathay Industries is a global and sustainable manufacturer of complete colours solutions, and its leadership in the inorganic pigment industry is now significantly reinforced through this transaction. The target business, Venator’s iron oxide pigment, has achieved steady growth and maintained profitability amid the pandemic and market fluctuations, demonstrating strong competitiveness and resilience.

“The acquisition of Venator’s Iron Oxide Pigment operation transforms our global manufacturing footprint, providing tremendous synergies and new growth opportunities,” said Terence Yu, Cathay Industries Group CEO.

In addition to Venator’s product portfolio, the purchase includes eight manufacturing sites and one administrative site, across 6 countries on 4 continents. This transformational investment demonstrates Cathay’s commitment to further its global network, with customization capabilities close to its customers and partners.

“We will remain strategically focused on continuing Cathay’s exceptional level of quality, product sustainability, innovation, service, and supply chain security to our valued customers and partners,” Mr. Yu said.

With a shared culture focused on customer centricity, production excellence and sustainability, Cathay Industries’ management sees strong complementarities between the two businesses and looks forward to welcoming Venator’s team and to partner together for long-term value creation. 

The transaction is expected to close by the end of first quarter 2023, subject to the customary closing conditions. UBS AG acted as financial advisor to Cathay. White & Case acted as international legal counsel to Cathay Industries.

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Cathay Industries Increases Capacity

Leading global iron oxide pigment manufacturer Cathay Industries increases CATHAYGRAN™ high quality spray-dried iron oxide pigment capacity.

Cathay Industries Group CEO Mr. Terence Yu, said, “Following a robust planning and restructuring process, we have successfully implemented a controlled process improvement program, improving output capacity on high quality spray-dried granule pigment product range by 100% plus effective from March 2021.”

Mr. Yu said, “Executing the process improvement project in challenging times, has been a collaborative effort from our great team and further supports increased demand we are seeing for our high quality CathayGran™ range of iron oxide pigment. The program is stage one of our continued industry investment, and plans for an additional capacity is in the design stage, with commissioning expected toward the end of 2021 or early 2022” and all together will triple our current production capacity.

Cathay Group’s global growth strategy continues to focus on the highest level of sustainable and eco-friendly technology to support industry, particularly the consistency of its high-quality CathayCoat™, CathayTherm™, Ferrotint™, CathayGran™ product range, which already provides advanced and sustainable solutions in the highly technical and demanding coating, plastic and construction markets.

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Cathay Industries Opens Singapore Operation

Leading global iron oxide pigment manufacturer Cathay Industries is excited about the opening of its Singapore subsidiary.

Cathay Industries Group CEO Mr. Terence Yu, said, “In line with our global expansion strategy, we are very excited to be officially opening our Singapore subsidiary “CATHAY Pigments Asia Pacific Pte. Limited.” from the 1stOctober 2020.”

Mr. Yu said, “2020 has been a challenging business environment, but with the support of our tremendous global team, diligent contingency and governance programs, we are extremely proud to commission stage one of our strategic expansion with the Singapore operation, whilst expanded manufacturing capabilities in stage two is well within our projected time frame “

Cathay Pigments Asia Pacific Pte. Limited will be located at 10 Anson Road, International Plaza, 13-09, Singapore 079903

Cathay Group’s global growth strategy continues to focus on the highest level of  sustainable and eco-friendly technology to support industry, particularly the consistency of its high-quality CathayCoat™, CathayTherm™, Ferrotint™, CathayGran™ product range, which already provides advanced and sustainable solutions in the highly technical and demanding coating, plastic and construction markets.