HUNT VALLEY, Md., May 10, 2004 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Company") announced today that it is filing a Form 12b-25 with the SEC. This form extends the deadline for filing the first quarter Form 10-Q until Monday, May 17, 2004, which will enable the Company to review the potential accounting ramifications of adopting revised FASB Interpretation No. 46, Consolidation of Variable Interest Entities.
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.