Volume 85 Issue 47 | p. 21 | Concentrates
Issue Date: November 19, 2007

Millennium To Close French TiO2 Facility

Department: Business

Millennium Inorganic Chemicals will close its titanium dioxide plant in Le Havre, France, with the loss of 287 jobs. Millennium bought the plant in 1997 and has invested roughly $130 million in it since then. Despite what the company describes as "considerable efforts of management and employees," the plant has accumulated losses of nearly $230 million. Last year, losses topped $50 million, and a similar result is expected for this year, Millennium says, reflecting a decline in sales prices, increases in production costs, and an excess of TiO2 capacity on the world market.

 
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ISSN 0009-2347
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