HOUSTON, Sept 23, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Lyondell Chemical Company (NYSE: LYO) will be increasing its annual propylene glycol ether (PGE) capacity by 50,000 metric tons by the beginning of 2007.
With this additional PGE capacity, Lyondell will continue to meet the future needs of its global customers, especially those in Asia, where the region is seeing a major increase in PGE usage in the electronics sector.
This announced capacity increase is the result of a long-term agreement with Shiny Chemical Industrial Co., Ltd. for the contract manufacturing of ARCOSOLV(R) PGEs. Shiny Chemicals will build and operate a PGE plant in Tainan, Taiwan, based on Lyondell's technology. Based on the agreement, Shiny Chemicals will manufacture the PGEs and Lyondell will market and sell the products.
"We will be leveraging Shiny Chemicals' local presence and know-how with Lyondell's global reach, proven technology, global infrastructure and reliable feedstock position in order to remain a supplier of choice for PGEs to customers worldwide," says Marc Quintus, business manager, solvents, Lyondell.
Lyondell's ARCOSOLV PGEs are high-performance industrial solvents used in a variety of applications, including paints and coatings, cleaners, inks and electronics. Additionally, Lyondell offers an extensive line of oxygenated solvents, including E-Series (ethylene-based) ethers and acetates, TBAc(TM) brand of tertiary butyl acetate and N-methyl-2-pyrrolidone (NMP). For more information, please visit http://www.lyondell.com .
Lyondell Chemical Company, headquartered in Houston, Texas, is North America's third-largest independent, publicly traded chemical company. Lyondell is a major global manufacturer of basic chemicals and derivatives including ethylene, propylene, titanium dioxide, styrene, polyethylene, propylene oxide and acetyls. It also is a significant producer of gasoline blending components. The company has a 58.75 percent interest in LYONDELL- CITGO Refining LP, a refiner of heavy, high-sulfur crude oil. Lyondell is a global company operating on five continents and employs approximately 10,000 people worldwide.
Shiny Chemicals is a major solvent manufacturer in Taiwan and the largest propylene glycol monomethyl ether acetate (PGMEA) producer in Asia. The company's products also include propylene glycol monomethyl ether proprionate (PGMEP), Shiny Chemicals' proprietary product, N-butyl acetate (NBAC) and many other bulk chemical solvents. Shiny Chemicals also has interests in the electronic grade solvent (or ultrapure solvent) business through its subsidiary, Eshine Advanced Chemicals. Eshine's products are isopropyl alcohol (IPA), N-methyl-2-pyrrolidone (NMP), propylene glycol monomethyl ether (PGME), propylene glycol monomethyl ether acetate (PGMEA) and many other commonly used solvents in the IC and LCD industry. Shiny Chemicals was founded in 1979 and is headquartered in Kaohsiung, Taiwan. For more information, please visit http://www.shinychem.com.tw
ARCOSOLV is a trademark of BP and is licensed to Lyondell Chemical Company. TBAc is a trademark of Lyondell Chemical Company.
SOURCE Lyondell Chemical Company
investors,
Doug Pike, 1-713-309-7141,
or media,
Eric Stebel, 1-713-309-3987,
both of Lyondell Chemical Company
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