COMPASS CHEMICAL MERGES WITH CATHAY PIGMENTS (HOLDINGS) LTD.

OMPASS CHEMICAL INTERNATIONAL, LLC merged with Cathay Pigments (Holdings) Ltd. to form Cathay Industries (USA) in January 2007.

Compass is now a wholly owned subsidiary of Cathay Industries (USA).

William J. Bellah, who founded Compass Chemicals, is now CEO of Cathay Industries (USA).

Cathay Pigments is a major supplier of Iron Oxide Pigments and has offices and manufacturing facilities in Australia, China, Germany, Hong Kong, South Africa, the UK, and the USA. Iron oxide pigments are used in construction materials, such as concrete finishes, masonry, precast, and asphalt. High purity pigments produced by Cathay are used in cosmetics.

Compass Chemical International, LLC is the only company which produces a full line of water treatment phosphonates in the United States. Compass imports raw materials as well as finished products from associated plants in China. Compass also operates as a custom manufacturer of specialty chemicals for others.

Daniel McCaul, formerly COO of Lynx Chemical Group and President of Callaway Chemical Company, is now President of Compass Chemical International, LLC.