Sun Chemical acquires high-purity oxides business of Cathay Industries
04 Jul 2018 --- Sun Chemical and its parent company, DIC Corporation, have acquired the high-purity iron oxides business of Cathay Industries, US. The purchase includes the customers, property and all assets related to the business located at the Valparaiso site. The move hopes to cement Sun Chemical as a leading color and effects supplier.
“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,” says 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 says. “This acquisition fits this strategy perfectly.”
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 US$7.5 billion and over 20,000 employees supporting customers around the world.
