HUNT VALLEY, Md., Feb. 20, 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 U.S. and Canada by US$0.05 per pound and CAN$0.06 per pound respectively, effective on March 15, 2004 or as contracts allow.
This increase follows the quarter one implementation of Millennium's October 1, 2003 price increase.
TiO2 demand has significantly increased worldwide. This price increase is needed to improve margins 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.