Millennium Chemicals to Close Cincinnati Offices, Cut Jobs.(Millenium Chemicals Inc., Cincinnati, Ohio)(Brief Article)(Statistical Data Included)

Chemical Week, March, 2001

Millennium Chemicals says it will close its offices in Cincinnati and cut about 40 jobs. The company says it will take a charge of about $10 million in the first half of this year; annualized cost savings are expected to exceed that amount. The Cincinnati office is the headquarters of the company's acetyls business.

The operations will be merged into offices in Baltimore, headquarters of its titanium dioxide ([TiO.sub.2]) operations. The company says it will divide its operations to form two new groups: Operational Excellence, containing acetyls and bulk [TiO.sub.2]; and Growth and Development, containing flavor and fragrance and chemicals, performance [TiO.sub.2] grades, and silica.