Lyondell Chemical Co. to acquire millennium chemicals.European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community antitrust clearance has been obtained by Lyondell Chemical Co., Houston, TX, to acquire Millennium Chemicals Millennium Chemicals Inc is a U.S. based chemical company. The business was established in 1985. It was a subsidiary of British conglomerate Hanson plc at one time, but was demerged on 1 October 1996, when it became an independent listed company. Inc., Hunt Valley, MD. Completion of the $1 billion acquisition is scheduled for the third quarter of 2004. Together, the two chemical companies hold two leading positions in the specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. industry. The combined company will retain the Lyondell name and will be based in Houston. |
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