SAO PAULO, BRAZIL — Millennium Inorganic Chemicals captured 60 percent of the Brazilian market for the additive titanium dioxide when it bought a factory near the port city of Salvador last year.
``We think it's a great opportunity now to be in South America,'' Marty Etzel, Millennium Inorganic Chemicals' global plastics business director, said at Brasilplast'99. The plant had been a 50-50 joint venture between Bayer AG of Leverkusen, Germany, and a private Brazilian investor.
Etzel said Brazil's currency devaluation means Brazilian resin firms and processors are buying more domestically produced Ti02.
Millennium Inorganic Chemicals, of Hunt Valley, Md., is a unit of Millennium Chemicals Inc. of Iselin, N.J.