Umeco Distribution will change its name to Cathay Composites Ltd.
The business recorded revenues of over £31 million for the year ended 31 December 2012. Its partners include Ashland Performance Materials, Jushi Group and Cytec.
Cathay Composites joins Marpex Chemicals Ltd and Wardel Chemicals Ltd in the Cathay group. Marpex and Wardel specialise in the export of chemicals used for coatings and personal care products, supplying markets across Africa and the Middle East.
“Cathay Composites is a core part of our strategy to expand into new markets and products," says Ben Chaing, Managing Director of Cathay Investments, which is based in the UK.
"We look forward to working with the Cathay Composites team to grow and develop the business further. We are very excited to develop the relationships with Ashland, Jushi and Cytec together with our other supply partners.”
- Cytec acquired Umeco in 2012 (see Cytec completes $439m acquisition of Umeco).
