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Sun Chemical, DIC Acquire Cathay Industries

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Sun Chemical and its parent company DIC Corporation have acquired Cathay Industries.

Cathay, based out of Valparaiso, Ind., produces high-purity iron oxides. The purchase includes all property and assets related to business at the Valparasio site. Terms of the transaction were not disclosed.

“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.”

He added: “DIC and Sun Chemical continue to transform their overall product portfolio, with focus on high value, high growth specialty product lines and markets. This acquisition fits this strategy perfectly.”