Global Materials Low Leverage High Rewards

Taiwan Hopax Chemicals Manufacturing

Market Cap: NT$9.2b

Taiwan Hopax Chemicals Manufacturing Co., Ltd.

Sanyo Chemical Industries

Market Cap: JP¥130.3b

Manufactures and sells chemical products in Japan.

Caledonia Mining

Market Cap: US$399.6m

Engages in the exploration, development, and production of gold in Zimbabwe.

Union Chemicals Lanka

Market Cap: LK₨3.8b

Manufactures and markets a range of polyvinyl/acrylic emulsions for paint and textile industries, and industrial and domestic use as adhesives in Sri Lanka.

Thai O.P.P

Market Cap: ฿795.0m

Manufactures and distributes plastic films, stickers, laminate tubes, and packaging products in Thailand.

Misr Chemical Industries

Market Cap: ج.م5.4b

Produces and sells in various chemical products in Egypt and the Middle East.

AMG Packaging & Paper

Market Cap: JA$895.8m

Engages in the manufacturing, distributing, and retailing of cartons of various sizes in Jamaica.

Berger Paints Bangladesh

Market Cap: ৳73.6b

Manufactures and markets liquid and non-liquid paints and varnishes, emulsions, coatings, and trades painting tools in Bangladesh.

BOC Kenya

Market Cap: KSh3.4b

Engages in the manufacture and sale of medical and industrial gases and welding products in Kenya.

Golik Holdings

Market Cap: HK$649.0m

An investment holding company, manufactures and sells metal products and building construction materials in Hong Kong, Mainland China, United States, and internationally.

Sesoda

Market Cap: NT$12.4b

Manufactures and markets sulfate of potash (SOP) in Taiwan.

Nanjing Well Pharmaceutical GroupLtd

Market Cap: CN¥3.4b

Nanjing Well Pharmaceutical Group Co.,Ltd.

Northern Star Resources

Market Cap: AU$31.6b

Engages in the exploration, development, mining, and processing of gold deposits.

Ruchira Papers

Market Cap: ₹3.3b

Manufactures and markets kraft paper, and writing and printing paper products in India and internationally.

KurimotoLtd

Market Cap: JP¥103.4b

Manufactures and sells ductile iron pipes and accessories, valves, and industrial and construction materials in Japan and internationally.

BHP Group

Market Cap: AU$319.2b

Operates as a resources company in Australia, Europe, China, Japan, India, South Korea, rest of Asia, North America, South America, and internationally.

Shandong Link Science and TechnologyLtd

Market Cap: CN¥4.7b

Shandong Link Science and Technology Co.,Ltd.

2S Metal

Market Cap: ฿1.7b

Manufactures and sells steel pipes, steel plates, light lip channels, and steel wire mesh products in Thailand and Lao People's Democratic Republic.

GOCL

Market Cap: ₹20.3b

Engages in the electronics manufacturing services and the realty businesses in India and internationally.

Maruo Calcium

Market Cap: JP¥3.1b

Manufactures and sells various calcium carbonate and other industrial raw materials in Japan.

Sinkang Industries

Market Cap: NT$2.2b

Manufactures and sells stainless steel in Taiwan and internationally.

Yara International

Market Cap: NOK 107.9b

Provides crop nutrition, ammonia, and industrial solutions in Norway, European Union, Europe, Africa, Asia, North America, Latin America, Australia, and New Zealand.

Taiyo KagakuLtd

Market Cap: JP¥44.7b

Manufactures and sells functional food ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Tokyo Tekko

Market Cap: JP¥48.8b

Engages in the manufacture and sale of steel and reinforcing bars in Japan.

Hodogaya Chemical

Market Cap: JP¥33.1b

Primarily engages in the production and sale of organic industrial chemicals in Japan.

Zhejiang Jinghua Laser TechnologyLtd

Market Cap: CN¥3.9b

Engages in the manufacturing, sale, and technological development of laser holographic molding products in China and internationally.

Bayer CropScience

Market Cap: ₹189.4b

Engages in the agriculture business in India, Germany, Bangladesh, and internationally.

Norsk Hydro

Market Cap: NOK 178.9b

Engages in power production, bauxite extraction, alumina refining, aluminum smelting, recycling activities, and extruded solutions worldwide.

Araya Industrial

Market Cap: JP¥25.3b

Manufactures and sells steel products in Japan and internationally.

Natoco

Market Cap: JP¥13.1b

Manufactures and sells paints, inks, fine chemicals, synthetic resins, and related products in Japan.

Flügger group

Market Cap: DKK 1.2b

Designs, manufactures, and markets decorative paints, wood preservatives, fillers, wallpapers, and painting tools.

Crown Paints Kenya

Market Cap: KSh8.6b

Manufactures and sells paints, adhesives, decorating sundries, PVA emulsions, and alkyd resins in Kenya, Uganda, Tanzania, and Rwanda.

United Paper

Market Cap: ฿5.7b

Engages in the production and distribution of box surface paper and Kraft paper for packaging corrugated boxes in Thailand.

Nippon Carbide Industries

Market Cap: JP¥33.0b

Engages in the electronic and functional products, and films and sheetings business in Japan, Asia, and internationally.

WINSON Machinery

Market Cap: NT$1.0b

Manufactures castings in Taiwan.

Avia Avian

Market Cap: Rp19.3t

Manufactures and distributes paints and building materials in Indonesia.