Cathay Industries, 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 Terence Yu, Cathay Industries Global CEO.
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 while meeting the Cathay Board’s strategic growth program. We are delighted to provide employment opportunities and build a long-term partnership with the local Batam community,” continued Yu.
With the first supplies to commence in the latter part of 2023, the new plant will complement Cathay’s global footprint.