Millennium to Cut 10 Percent Of Its Workforce.(Millennium Chemicals Inc.)(Brief Article)(Statistical Data Included)

Chemical Market Reporter, July, 2001

AS PART OF its initiative to accelerate cost savings, Millennium Chemicals Inc. will cut 10 percent of its workforce and idle its 44,000-ton-per-year sulfate-process titanium dioxide ([TiO.sub.2]) plant at Hawkins Point, Md.

Millennium will shutter, for an indefinite period, the high-cost sulfate plant at Hawkins Point on September 1. The company says customers will not be impacted, as they will be provided product from other Millennium plants in the US. The action is expected to lower global manufacturing costs per metric ton. Millennium's 50,000-metric-ton-per-year chloride-process plant will continue to operate. The idling of the sulfate plant is "the right thing to do as they clearly have extra capacity at their other sites," says Merrill Lynch analyst...

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