Millennium Specialty Chemicals is the world's largest buyer of crude sulfate turpentine, (CST), which the company uses for the manufacture of fragrance and flavor ingredients. CST is a by-product of the paper industry and undergoes many substantial transformations to formulate chemicals for such products as soap, detergent, perfume, vitamins, and pharmaceuticals. The company's parent, Millennium Chemicals, Inc., is a major international chemicals company with leading market positions in a broad range of commodity, industrial, performance, and specialty chemicals. This includes Millennium Inorganic Chemicals, Inc., the second largest producer of titanium dioxide (TiO2) and Millennium Petrochemicals, Inc., the second largest U.S. manufacturer of acetic acid and vinyl acetate monomer and a producer of methanol. It also holds a 29.5 percent ownership in Equistar Chemicals LP, the largest producer of ethylene and polyethylene in North America.
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