Lyondell merges with millennium.Lyondell Chemical Co., Houston, is acquiring 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. Both are joint-venture partners in Houston based Equistar Chemicals LP, one of North America's largest suppliers of polyethylene resin and ethylene monomer monomer (mŏn`əmər): see polymer. monomer Molecule of any of a class of mostly organic compounds that can react with other molecules of the same or other compounds to form very large molecules (polymers). . The merged company will retain the Lyondell name and be based in Houston. Lyondell is a major supplier of propylene oxide propylene oxide a gas used to disinfect animal feeds. and propylene glycol propylene glycol a chemical used industrially as an antifreeze, solvent stabilizer, as a preservative in liquid livestock feeds and pharmaceutically as a vehicle or solvent for medicinal preparations. . Millennium is a big producer of titanium dioxide. The acquisition will create the third-largest chemical company in North America with annual sales of more than $11 billion. |
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