HUNT VALLEY, Md., May 7, 2004 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Millennium") announced today price increases on the sale of all Tiona(r) titanium dioxide (TiO2) products sold to all end-use markets in the Middle East & Africa, in Asia and in Central and South America. Asian and MEA prices will increase by US$100 per metric ton while prices in Central and South America will increase by US $150 per metric ton. These increases are effective on July 1, or as contracts allow.
These increases follow the Company's current quarter implementation of previously announced increases in Central & South America, Asia, North America and Europe.
TiO2 demand has significantly increased worldwide. These price increases are needed to offset higher costs and to justify future investments in this business.
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 is:
* The second-largest producer of TiO2 in the world, the largest merchant seller of titanium tetrachloride and a major producer of zirconia, silica gel and cadmium/based pigments; * The second-largest producer of acetic acid and vinyl acetate monomer in North America; * A leading producer of terpene-based fragrance and flavor chemicals; and, * Through its 29.5% interest in Equistar Chemicals, LP, a partner in the second-largest producer of ethylene and third-largest producer of polyethylene in North America, and a leading producer of performance polymers, oxygenated chemicals, aromatics and specialty petrochemicals.