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April 18, 2007
By: KERRY PIANOFORTE
Lyondell Chemical Company has announced plans to sell it sworldwide inorganic chemicals business to National Titanium Dioxide Company Ltd. (Cristal) for approximately $1.2 billion, including the assumption of certain liabilities directly related to the business. Cristal is a global producer of titanium dioxide exporting to more than 70 countries. Lyondell’s Millennium Inorganic Chemicals subsidiary is the world’s second-largest producer of titanium dioxide with an annual capacity of 670,000 metric tons. Lyondell acquired the inorganic chemicals business in its 2004 acquisition of Millennium Chemicals Inc.
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