RED BANK, N.J., Jan. 16, 2003 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Millennium") announced today price increases on the sale of all Tiona(r) titanium dioxide (TiO2) products sold to the coatings, plastics, specialty and paper laminate markets in the Americas as follows.
Effective February 1, 2003, Millennium will increase TiO2 prices by US$0.06 per pound in the U.S. and CDN$0.09 per pound in Canada. Additionally, prices will increase by US$150 per metric ton in Central and South America.
These increases are in addition to the previously announced price increases and are needed to continue the process of restoring margins.
Millennium Chemicals (website: www.millenniumchem.com) is a major international chemicals company, with leading market positions in a broad range of commodity, industrial, performance and specialty chemicals.
Millennium Chemicals Inc. is:
- The second-largest producer of TiO2 in the world and a leading producer of titanium tetrachloride, and other products, including zirconia, cadmium/selenium pigments and silica gel;
- the second-largest producer of acetic acid and vinyl acetate monomer in North America, and through its partnership interest in La Porte Methanol Company, LP, a partner in a leading U.S. producer of methanol;
- a leading producer of fragrance chemicals; and,
- through its partnership interest in Equistar Chemicals, LP, a partner in the second-largest producer of ethylene, and the third-largest producer of polyethylene in North America and a leading producer of ethylene oxide and its derivatives and high value-added specialty polymers.
The aforementioned statements relating to matters that are not historical facts are forward-looking statements that involve risks and uncertainties, including, but not limited to, future global economic conditions, production capacity, competitive products and prices and other risks and uncertainties detailed in the company's Securities and Exchange Commission filings. In addition, the information presented here is intended to be accurate as of this date. Forward-looking information is intended to reflect the opinions as of this date; and, such information will not necessarily be updated by the Company.