Valhi, Inc., through its subsidiaries, engages in the chemicals, component products, waste management, and real estate businesses worldwide. Chemicals Kronos Worldwide, Inc. (Kronos): This segment is operated through the company’s majority control of Kronos. Kronos is a global producer and marketer of value-added titanium dioxide pigments (TiO2), a base industrial product used in a range of applications. The company, along with its distributors and agents, sells and provides technical services for its products to approximately 4,000 customers in 100 countries with the majority of sales in Europe and North America. TiO2 is a white inorganic pigment used in a range of products for its durability and its ability to impart whiteness, brightness and opacity. Products and End-use Market The company offers its customers a portfolio of products that include approximately 40 different TiO2 pigment grades under the Kronos trademark, which provide various performance properties to meet customers’ specific requirements. The company’s major customers include domestic and international paint, plastics, decorative laminate and paper manufacturers. The company and its agents and distributors primarily sell and provide technical services for its products in three major end-use markets: coatings, plastics and paper. Some of the principal applications for the company’s products include the following. TiO2 for Coatings: The company’s TiO2 is used to provide opacity, durability, tinting strength and brightness in industrial coatings, as well as coatings for home commercial and residential interiors and exteriors, automobiles, aircraft, machines, appliances, traffic paint and other special purpose coatings. TiO2 for Plastics: The company produces TiO2 pigments that improve the optical and physical properties in plastics, including whiteness and opacity. TiO2 is used to provide opacity in items, such as containers and packaging materials, and vinyl products, such as windows, door profiles and siding. TiO2 also generally provides hiding power, neutral undertone, brightness and surface durability for housewares, appliances, toys, computer cases and food packages. TiO2 is also used in masterbatch, which is a concentrate of TiO2 and other additives. TiO2 for Paper: The company’s TiO2 is used in the production of various types of paper, including laminate (decorative) paper, filled paper and coated paper to provide whiteness, brightness, opacity and color stability. Although it sells its TiO2 to all segments of the paper end-use market, its primary focus is on the TiO2 grades used in paper laminates, where various layers of paper are laminated together using melamine resin under high temperature and pressure. TiO2 for Other Applications: The company produces TiO2 to improve the opacity and hiding power of printing inks. Its TiO2 is also used in textile applications where TiO2 functions as an opacifying and delustering agent. In man-made fibers, such as rayon and polyester, TiO2 corrects an otherwise undesirable glossy and translucent appearance. The company produces sulfate process anatase TiO2 used to provide opacity, whiteness and brightness in various cosmetic and personal care products, such as skin cream, lipstick, eye shadow and toothpaste. The company’s TiO2 is also found in food products, such as candy and confectionaries, and in pet foods where it is used to obtain uniformity of color and appearance. In pharmaceuticals, the company’s TiO2 is used commonly as a colorant in pill and capsule coatings, as well as in liquid medicines to provide uniformity of color and appearance. Kronos purified anatase grades meet the applicable requirements of the CTFA (Cosmetics, Toiletries and Fragrances Association), USP and BP (United States Pharmacopoeia and British Pharmacopoeia) and the FDA (United States Food and Drug Administration). The company owns and operates two ilmenite mines in Norway pursuant to a governmental concession with an unlimited term. The company manufactures and sells iron-based chemicals, which are co-products and processed co-products of the sulfate and chloride process TiO2 pigment production. The
valhi inc (VHI:New York)
5430 LBJ Freeway
Dallas, TX 75240
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