HISTORY

William J. Bellah founded Compass Chemical International, LLC in 1999. Compass was created to be an alternative supplier of specialty chemicals for the water treatment industry.

After a period of steady growth, Compass recognized the need for domestic production of safe, quality products for the water treatment industry. Compass, therefore, acquired a manufacturing facility in Smyrna, near Atlanta, GA, which had formerly produced the Mayoquest line of products.

Danny McCaul came with the acquisition by Compass. Danny has had a long career in the chemical industry and in manufacturing and marketing water treatment chemicals. He was President of Callaway Chemical Company (a subsidiary of Vulcan Materials Company) when Callaway acquired the Smyrna plant in 1996.

Compass is now successfully importing raw materials from associated companies in China, and is the only full-line manufacturer of phosphonates in the United States.

In January 2007, Compass Chemical International, LLC merged with Cathay Pigments USA, Inc., to form Cathay Industries USA. Bill Bellah became the CEO of Cathay Industries USA, and, in August 2007, Danny McCaul became President & COO of Compass Chemical International, LLC.

STRUCTURE

• Compass Chemical International, LLC merged with Cathay Pigments USA, Inc. to form Cathay Industries (USA).
• Compass Chemical International, LLC is now a wholly owned subsidiary of Cathay Industries (USA).
• Cathay Pigments (USA) is now a wholly owned subsidiary of Cathay Industries (USA).

PART OF A MULTI-NATIONAL ORGANIZATION

• Cathay Industries (USA) is a wholly owned subsidiary of Cathay Pigments (Holdings) LTD.
• Cathay Pigments (Holdings) LTD has offices and manufacturing sites worldwide.

CATHAY PIGMENTS (HOLDINGS) LTD. ORGANIZATION CHART



CATHAY INDUSTRIES (USA) MISSION STATEMENT

Cathay Industries (USA) is committed to being the premier supplier in the industries that we serve as viewed by our customers, suppliers, shareholders, competitors and employees.

CATHAY INDUSTRIES (USA) GOALS

• To be one of the top three suppliers in each target market that we service.
• To be a leader in technology and innovation that supports our growth with our customers.
• To be a leader in sales growth, earnings growth and return on investment.
• To be the lowest cost producer of all our manufactured products through innovation and technological advancements.
• To maintain a safe and environmentally sound workplace.
• To always work within a code of ethics, second to none.

CATHAY INDUSTRIES (USA) CORPORATE MANAGEMENT

William J. Bellah Kevin Miles James Reth	Chief Executive Officer Chief Financial Officer Information Technology Officer

COMPASS CHEMICAL INTERNATIONAL, LLC EXECUTIVE MANAGEMENT

Daniel McCaul	President & Chief Operating Officer