Cathay Industries buys Hoover Color
Published: Friday, 01 July 2016
Cathay Industries, one of the world's largest synthetic iron oxide producers, is continuing with its move into eco-friendly and sustainable pigments with the acquisition of US-based Hoover Color, a market leader in naturally-occurring umbers and transparent iron oxides.
Leading iron oxide producer Cathay Industries has signed an
agreement to purchase Virginia, US-based pigment producer
Hoover Color Corp. for an undisclosed amount.The sale is
expected to close in Q3 2016, subject to customary closing