Lyondell Chemical Company Announces Sale of Inorganic Chemicals Business to National Titanium Dioxide Company Ltd.
February 26, 2007
Source: ChemPoint.com
HOUSTON, February 26, 2007 — 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.
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