Acquisition adds magnetic iron oxides
A
Cathay Pigments (USA) product story
Edited by the Engineeringtalk editorial team
Aug 16, 2006
Cathay Pigments (USA) has announced the completion of its purchase of ISK Magnetics of Valparaiso, Indiana.
Cathay Pigments (USA) has announced the completion of its purchase of ISK Magnetics of Valparaiso, Indiana.
Financial details of the acquisition were not disclosed.
Once part of Pfiser, 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.
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".
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