HUNT VALLEY, Md., Sept. 2, 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 world wide effective on October 1, 2004 or as contracts allow.
In North America, prices will increase by US $0.06 per pound on rutile products except for Tiona 188, which will increase by $0.07 per pound. Prices will increase by $0.05 per pound on anatase products. In Canada, rutile product prices will increase by C$0.08 per pound and by C$0.09 per pound for Tiona 188. Anatase products sold in Canada will increase by C$0.07 per pound.
In Europe, prices will increase by 130 Euros per metric ton on all products except on Tiona 188, Tiona RCL-628 and Tiona RCL 472, which will increase by 150 Euros per metric ton.
In the Middle East and Africa, prices will increase by US $150 per metric ton on all products.
In Central and South America, prices will increase by US $100 per metric ton on all products.
In Asia, prices for all products will increase by US $100 per metric ton except for Tiona 188, Tiona RCL-69 and Tiona RCL-128, which will increase by US $150 per metric ton.
Tiona prices in Australia will increase by A$100 per metric ton on all products.
TiO2 demand has significantly increased worldwide resulting in 30-day order lead times required for all Tiona products. These price increases are necessary to improve margins, which must increase in order to justify future investments in additional capacity and to offset increases in costs.
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 producer of
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.