HUNT VALLEY, Md., May 26, 2004 (PRIMEZONE) -- Millennium Chemicals (NYSE:MCH) ("Millennium") announced today price increases on the sale of all Tiona(R) anatase and rutile titanium dioxide (TiO2) products sold to all end use markets in North America and in Europe.
In North America, prices will increase by $0.04 per pound in the U.S. and by C$0.06 per pound in Canada effective on June 15, 2004 or as contracts allow.
In Europe, prices will increase 120 Euros per metric ton effective on July 1, 2004 or as contracts allow.
TiO2 demand has significantly increased worldwide. These price increases are 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.