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Markets :: Basic Chemicals :: Inorganic Chemicals :: Titanium Dioxide
Saudi Firm Completes Lyondell TiO2 Purchase; Tronox Advances Plant Sale
12:38 PM MDT | July 25, 2007 | Kate Phillips
Lyondell says it has completed the sale of its titanium dioxide (TiO2) business to National Titanium Dioxide Co. (Cristal; Yanbu, Saudi Arabia) for $1.3 billion (CW, March 7, p. 10). Lyondell’s Millennium Inorganic Chemicals’ unit is the world’s second-largest TiO2 producer, accounting for about 14% of the global TiO2 market, behind DuPont, which controls a 23% stake, says BB&T Capital Markets (Morristown, NJ). The transaction pushes Cristal, currently the ninth-largest global producer, into the number-two spot, boosting its market share to...
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