CATHAY INDUSTRIES ANNOUNCES FURTHER EXPANSION WITH NEW IRON OXIDE PIGMENT PLANT IN INDONESIA
- Company News
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."
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 strategic growth program. And 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.