2004/3/29 Lyondell　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Lyondell Top

Lyondell and Millennium Announce Agreement to Combine
http://www.lyondell.com/

Lyondell Chemical Company (NYSE: LYO) and Millennium Chemicals Inc. (NYSE: MCH) today announced that their Boards of Directors have approved, and the companies have executed, a definitive agreement for a stock-for-stock business combination of the companies, expected to be tax-free to the shareholders of Millennium and the companies. The transaction will create North America's third-largest independent, publicly traded chemical producer with combined pro forma 2003 revenues of more than $11 billion and market capitalization of nearly $4 billion.


The transaction combines two U.S. chemical companies that are well positioned globally, with leading positions in propylene oxide and derivatives, titanium dioxide (TiO2) and acetyls. And, through their Equistar joint venture -- a major North American producer of ethylene, propylene, polyethylene and aromatics -- they have significant leverage to the petrochemical cycle, providing opportunity for the combined company's shareholders to take full advantage of the recovery in the petrochemical cycle. The combined company will operate in 16 countries and employ about 10,000 people worldwide.

Table 1: Lyondell and Equistar Liquidity at December 31, 2003
　　　　　　　　　　　　　　　　(Millions of dollars)

Table 2: Millennium Net Debt at December 31, 2003
　　　　　　　　　　　　　(Millions of dollars)

Attachment 1: Capacities and Major Positions

Lyondell Intermediate Chemicals & Derivatives Capacities

Equistar Capacities

Millennium Capacities

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Attachment 2: Principal Products

Lyondell Intermediate Chemicals & Derivatives Principal Products

Equistar Principal Products

Millennium Principal Products

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Attachment 3: Manufacturing Locations

Lyondell Intermediate Chemicals & Derivatives Manufacturing Locations

Equistar Manufacturing Locations

Millennium Manufacturing Locations

Lyondell 2004/10/4

Lyondell and Millennium Announce Expected Closing Date for Proposed Business Combination Transaction
http://phx.corporate-ir.net/phoenix.zhtml?c=109756&p=irol-newsArticle&ID=622708&highlight=

Lyondell Chemical Company (NYSE: LYO) and Millennium Chemicals Inc. (NYSE: MCH) today announced that they expect their proposed business combination transaction to close December 1, 2004.

After the close of the proposed transaction, the company will be called "Lyondell Chemical Company" and will be headquartered in Houston, Texas.

ABOUT LYONDELL
Lyondell, headquartered in Houston, Texas, is a leading producer of: propylene oxide (PO); PO derivatives including propylene glycol (PG), butanediol (BDO) and propylene glycol ethers (PGE); and styrene monomer and MTBE as co-products of PO production. Through its current 70.5 percent interest in Equistar Chemicals, LP, Lyondell also is one of the largest producers of ethylene, propylene and polyethylene in North America and a leading producer of ethylene oxide, ethylene glycol, high value-added specialty polymers and polymeric powder. Through its 58.75 percent interest in LYONDELL-CITGO Refining LP, Lyondell is one of the largest refiners in the United States processing extra heavy Venezuelan crude oil to produce gasoline, low sulfur diesel and jet fuel.

ABOUT MILLENNIUM
Millennium is the second-largest producer of TiO2 in the world, the largest merchant seller of titanium tetrachloride and a producer of silica gel and cadmium-based pigments. It also is the second-largest producer of acetic acid and vinyl acetate monomer in North America, and a leading producer of terpene-based fragrance and flavor chemicals. Millennium currently has a 29.5 percent interest in Equistar.

2004/12/1 Lyondell 　　　　　　　　　　　　　　Lyondell and Millennium 統合発表 　　　両社概要

Lyondell Completes Acquisition of Millennium Chemicals
http://www.lyondell.com/html/news/press_kit.shtml

Creates North America’s third-largest independent, publicly traded chemical producer
2003 pro forma revenues of $11.4 billion
Two new directors appointed to Lyondell Board

Lyondell Chemical Company (NYSE:LYO) today announced that it has completed its acquisition of Millennium Chemicals Inc. Shareholders of both companies approved the proposed transaction in special meetings and the closing was effective after the close of New York Stock Exchange trading on November 30, 2004.



The company will operate as Lyondell Chemical Company with headquarters in Houston, Texas. Lyondell now operates on five continents and employs approximately 10,000 people worldwide. With the completion of the transaction, both Millennium and Equistar Chemicals are now wholly owned subsidiaries of Lyondell. In the new organization, however, Lyondell, Equistar and Millennium each will remain separate legal entities and keep their separate debt structures.

2005/10/19 Lyondell

Lyondell to Permanently Cease TDI Production at Lake Charles Plant
http://phx.corporate-ir.net/phoenix.zhtml?c=109756&p=irol-newsArticle&ID=769995&highlight=

Lyondell Chemical Company (NYSE: LYO) announced today that it will permanently cease toluene diisocyanate (TDI) production at its Lake Charles, La., plant. On September 20, 2005, Lyondell announced an indefinite suspension of production at the 300 million pound per year TDI facility while the company evaluated the long-term prospects for the plant.


Lyondell acquired the TDI plant as part of its 1998 acquisition of ARCO Chemical Company. ARCO Chemical had purchased the plant from Olin Corporation in December 1996.

2007/2/20 Lyondell

Lyondell Announces Approval for New Chemical Facility in Ningbo, China

Lyondell Chemical Company announced today that it and Sinopec Zhenhai Refining & Chemical Co., Ltd. (ZRCC) have received final government approval for a project to construct a world-scale propylene oxide / styrene monomer (POSM) manufacturing facility in Ningbo, China, across the Hangzhou Bay from Shanghai. The project is a partnership between Lyondell and ZRCC, and the companies expect that this plant will be one of the lowest-cost POSM plants in the world, capitalizing on Lyondell's industry-leading POSM technology, both companies' operating experience and raw materials provided by ZRCC's future olefins plant in Ningbo.

Lyondell will contribute its POSM technology and its overall operating and technical experience in exchange for a share of the propylene oxide (PO) profitability from the plant. The parties will jointly market all of the PO manufactured by the new facility. The companies expect to complete construction in 2009.

Along with Lyondell's POSM plants near Houston and Rotterdam, the Ningbo facility will top the list of the world's largest POSM assets. The new plant will have an annual design capacity of 274,000 metric tons (604 million pounds) of PO and 602,000 metric tons (1.3 billion pounds) of styrene. Lyondell estimates that worldwide demand for PO was approximately 6.5 million metric tons (14.3 billion pounds) in 2006.

Lyondell is the world's PO technology leader with more than 40 years of experience. This project enhances Lyondell's presence in the Asia-Pacific region, which already includes:

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2007-04-18 Sinopec

Inauguration Ceremony of Ningbo ZRCC Lyondell Chemical Co. Ltd. in Beijing

The inauguration ceremony of Ningbo ZRCC Lyondell Chemical Co. Ltd. was held in the Great Hall of the People in Beijing on April 18, 2007.

Ningbo ZRCC Lyondell Chemical Co. Ltd. is jointly formed by Sinopec Zhenhai Refining & Chemical Co. Ltd. and Lyondell China Holdings Limited. With a total investment amount of approximately RMB4.44 billion, this project will have an annual capacity of 285,000 metric tons of propylene oxide and 620,000 metric tons of styrene.

The new plant is scheduled for operation by the end of 2009 upon the completion of its construction. The annual sales revenue is expected to reach over RMB10 billion.

2007/2/26　Lyondell

Lyondell Chemical Company Announces Sale of Inorganic Chemicals Business to National Titanium Dioxide Company Ltd. (Cristal)

Lyondell Chemical Company and the National Titanium Dioxide Company Ltd. (Cristal), today announced that they have signed an agreement for a proposed sale by Lyondell of its worldwide inorganic chemicals business to Cristal in a transaction valued at approximately $1.2 billion, including the assumption of certain liabilities directly related to the business. Cristal is a global producer of titanium dioxide exporting to more than 70 countries. Lyondell stated that the transaction would include a cash payment of $1.05 billion, and estimated its after-tax proceeds at $975 million.

Lyondell's Millennium Inorganic Chemicals subsidiary is the world's second-largest producer of titanium dioxide with an annual capacity of 670,000 metric tons. Titanium dioxide is a white pigment commonly used in such consumer products as paint, toothpaste and sunblock.

The National Titanium Dioxide Company Ltd. ("Cristal") is the 9th largest titanium dioxide producer globally with a current production capacity of 100,000 metric tons, and an authorized design production capacity of 180,000 tons. With major offices in the United Kingdom, Saudi Arabia and Singapore it is the only producer of titanium dioxide in the Middle East and North Africa and exports its products to more than 70 countries. The company has been a leader in employee safety and environmentally friendly manufacturing processes. "TASNEE," a Saudi major diversified company with chemicals and petrochemicals operations, owns 66 percent of Cristal, while 33 percent of Cristal is owned by "GIC," an investment house established in Kuwait by the GCC countries.

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The National Titanium Dioxide Company Ltd (Cristal) has been manufacturing titanium dioxide (TiO2) using imported rutile ore at its ultra-modern Yanbu Al-Sinaiyah plant in Saudi Arabia since 1991. National markets its products under the well-known Cristal brand.
Cristal has developed an international reach with headquarters in Jeddah and offices in both the UK and Singapore. The company is owned by three partners, the National Industrialization Company (Saudi Arabia), the Gulf Investment Corporation (Kuwait), and a private investor.
In 2002, Cristal increased its original TiO2 production capacity from 70,000 metric tons a year to 100,000 metric tons in line with a projected annual rise in world demand of around 3% to 2005. This expansion makes Cristal the largest privately owned chemical company in Saudi Arabia. It also reinforces their position as a major supplier of TiO2.
Titanium dioxide pigment (TiO2) is a white powder which offers high opacity, brilliant whiteness and exceptional UV resistance. Such unique qualities have turned it into an essential ingredient in the manufacture of paints, inks, plastics and rubber. It is also used in other products such as soap and toiletries, adhesives, concrete curing compounds, candles and crayons.

TiO2 is a high-demand product. The paint industry is its largest user, consuming more than 50% of world TiO2 production, while plastics consume 19% and paper 17%.
Not surprisingly, the largest TiO2 consumer is the United States (33%), followed by Europe (24%) and Japan (8%). Over the next decade, substantial growth in consumption is expected in developing economies in more densely populated countries such as India and China.

May 11, 2007　Houston Chronicle

Billionaire investor gets right to buy stake in Lyondell　　

Russian-born billionaire Leonard Blavatnik has acquired the right to buy a stake in Houston's Lyondell Chemical Co., fueling an 11 percent surge in shares on anticipation of a possible takeover.

The filing said Blavatnik, chairman of New York-based private equity investment firm Access Industries, has signed an agreement with Merrill Lynch & Co. effective this week that allows him to buy 8.3 percent of Lyondell's outstanding shares at $31.11 each "as a strategic investment." That is nearly 21 million shares for $653 million.

Los Angeles-based exploration and production company Occidental Petroleum said in a separate regulatory filing that it has sold nearly 7 million of its Lyondell shares to Merrill Lynch, and struck a swap agreement to divest the rest. The total of Occidental's transaction is the amount of shares Blavatnik will acquire.

Upon acquiring those shares, the filing said, Blavatnik will assess his ownership and voting position and "may seek to engage in discussions" with Lyondell about buying all of the chemical company's remaining shares or about a merger with Basell Holdings.

Access Industries bought Basell from BASF and Shell Chemicals for $5.7 billion in 2005.

2007/5/18　Access Industries の会長、Lyondell Chemical の株式を購入

Platts 2007/7/18

Equistar spends $125 million correcting environmental violations

US based Equistar Chemicals LP plans to spend more than $125 million on pollution controls and cleanup to address a number of air, water and hazardous waste violations at seven petrochemical plants in Texas, Illinois, Iowa and Louisiana, the Justice Department and the Environmental Protection Agency (EPA) announced Wednesday.

The states of Iowa, Illinois and Louisiana have all joined the federal government in the settlement.

"Equistar will be the first in the petrochemical industry to adopt these stricter environmental measures, many of which will go beyond what the regulations would require," said Granta Nakayama, EPA's Assistant Administrator for Enforcement and Compliance Assurance.

2007/8/13 www.nj.com

Jury finds BASF is owed nearly $170 million

A Morris County jury this afternoon ordered a Texas-based chemical company to pay BASF Corp. nearly $170 million for overcharging the Florham Park-based company for eight years.


Under its contract with Lyondell, BASF was to be charged the lowest price that Lyondell charged any of its customers for propylene oxide, a compound that BASF uses to make polyols, used in making all sorts of goods, from gym floors to adhesives.

Lyondell admitted at trial that it overcharged BASF, but attorney H. Lee Godfrey put the refund due BASF at $22.5 million.

On April 8, 2005, Lyondell filed a lawsuit against BASF Corporation in the Court of Common Pleas for Delaware County, Pennsylvania seeking declaratory judgment to resolve a commercial dispute regarding the interpretation of various provisions of a propylene oxide sales contract.
Soon thereafter, on April 12, 2005, BASF filed a lawsuit against Lyondell in the Superior Court of New Jersey, Morris County asserting various claims relating to alleged breaches of the same propylene oxide sales contract and seeking damages in excess of $100 million.
In September 2005, BASF's motion to dismiss Lyondell's declaratory judgment action in Pennsylvania was granted, and Lyondell has decided not to appeal that ruling.
The lawsuit BASF filed in New Jersey is proceeding. Lyondell believes that it has valid defenses to all claims and is vigorously defending them. The parties have engaged in negotiations to resolve the claims without success to date. Lyondell does not expect the resolution of the claims to result in any material adverse effect on its business, financial condition, liquidity or results of operations.