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Chemical Process Industry News
News Release from: Cathay Pigments (USA)
Edited by the Processingtalk Editorial
Team on 17 August 2006
Cathay Pigments acquires ISK Magnetics
Cathay Pigments (USA) completes the purchase of ISK Magnetics, the world's largest producer and supplier of magnetic iron oxides for audio and data applications
Cathay Pigments (USA), a subsidiary of Cathay Pigments Group, a leading global manufacturer of high quality synthetic iron oxide pigments and other colourants, today announced the completion of its purchase of ISK Magnetics of Valparaiso, Indiana Financial details of the acquisition were not disclosed
This article was originally published on Processingtalk on 5 Aug 2008 at 8.00am (UK)
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Once part of Pfizer, the company was sold to Ishihara Sangyo Kaisha, (ISK), becoming ISK Magnetics and part of ISK Corporation (USA).
ISK Magnetics will now be known as Cathay Pigments (USA) - Cathay Magnetics.
ISK Magnetics is the world's largest producer and supplier of magnetic iron oxides for audio and data applications.
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The company also manufactures particles for specialty applications, including magnetic ink character recognition and security inks, oxides for printer toner and a complete line of chemically pure iron oxide pigments used in cosmetics, foods and pharmaceuticals.
ISK Magnetics also runs a rapidly growing deep well business.
"We are pleased to add ISK Magnetics to our group of companies as we see this strategic acquisition as a key addition to our growing portfolio of high performance iron oxide products and pigments," said Martin Edison, CEO of Cathay Pigments (USA): "The acquisition gives Cathay Pigments a larger share of the global market and new opportunities in the high performance iron oxide market such as toner, magnetics, high purity and transparent iron oxide.
We now fully expect Cathay to take a leading position in some iron oxide market applications".
Cathay Pigments is a global manufacturer and marketer of iron oxide based products as well as food colours and organic chemicals.
Its operating companies service a variety of global industries including construction, concrete, paints and coatings, packaging and food ingredients.
Among its principal brands are Colourmix and Ferrotint.
Cathay Pigments Group began manufacturing iron oxides in 1984 under the name Advanced Chemicals and was incorporated in 1997.
Cathay Pigments is one of the top four leading global manufacturers of high quality synthetic iron oxides pigments as well as a manufacturer of high quality food colours and organic pigments.
The company is privately owned with over 30 offices, blending and manufacturing facilities on 5 continents worldwide.
Cathay Pigments is a major supplier of dyes and pigments to leading concrete, construction, building materials, paint and coatings, asphalt masterbatch, inks, food, beverages, pharmaceutical, cosmetics and personal care industries.
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