Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Cathay Industries Acquires Hoover Color Corporation - Coatings World

What are you searching for?

Sign in
Breaking News, Industry News

Cathay Industries Acquires Hoover Color Corporation

Author Image

By: KERRY PIANOFORTE

Editor, Coatings World, Coatings World

Leading global iron oxide pigment manufacturer Cathay Industries has agreed to acquire Hoover Color Corporation (Hiwassee, VA) for an undisclosed amount.

The transaction is expected to close within the third quarter of 2016, subject to customary closing conditions.

Commenting on the transaction, Terence Yu, Group chief executive officer, Cathay Industries, said, “The acquisition of Hoover Color further strengthens our color pigments business as well as enhancing our capabilities. As market leader in natural occurring Umbers and unique eco-friendly Transparent Iron Oxides, Hoover Color brings a century of customer focus to the Cathay Industries Group”.

“Merging our two companies will complement Cathay’s focus on innovation, sustainability, and position us as a leading supplier of performance pigments with a unique offering for the paints and coatings industry,” said Yu.

Charles Hoover, president of Hoover Color Corporation said “Over the last 25 years, Cathay Industries has led the restructuring of the iron oxide industry through innovative technology, and this partnership cements the relationship our two companies have developed over the last two decades. All of us at Hoover Color look forward to exciting times ahead for the combined businesses.”

The transaction will not affect Hoover Color’s existing product range and supply will continue seamlessly.

Hoover will join the executive team at Cathay Industries and continue in his role as president of the Hoover Color newly formed division of Cathay Industries.

Add us as a preferred source on Google

Get the latest Coatings World news, insights and analysis in your Google Search and AI experiences.

Add Coatings World as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Coatings World Newsletters

Topics