Profile: Kronos Worldwide Inc (KRO.N)

KRO.N on New York Stock Exchange

19 Dec 2014
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Kronos Worldwide, Inc. (Kronos) is a global producer and marketer of titanium dioxide pigments (TiO2), a base industrial product used in a range of applications. The Company, along with its distributors and agents, sell and provide technical services for its products. As of December 31, 2011, approximately 50% of the Company was owned by Valhi, Inc. and approximately 30% was owned by NL Industries, Inc. Valhi also owns approximately 83% of NL Industries. It offers its customers a range of products, which include over 40 different TiO2 pigment grades under the Kronos, which provide a range of performance properties to meet customers’ specific requirements. Its customers include domestic and international paint, plastics, decorative laminate and paper manufacturers. It ships TiO2 to its customers in either a powder or slurry form through rail, truck or ocean carrier. During the year ended December 31, 2011, sales of its TiO2 pigments represented approximately 92% of its net sales. The Company and its agents and distributors sell and provide technical services for its products in three end-use markets: coatings, plastics and paper.

The Company’s TiO2 is used to provide opacity, tinting strength and brightness in industrial coatings, as well as coatings for home interiors and exteriors, automobiles, aircraft, machines, appliances, traffic paint and other special purpose coatings. Its TiO2 is used in the production 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 TiO2grades used in paper laminates. Its TiO2 is also used in textile applications where TiO2 functions as an opacifying and delustering agent. Its produces anatase TiO2 used to provide opacity, whiteness and brightness in a range of cosmetic and personal care products, such as skin cream, lipstick, eye shadow and toothpaste. Its 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, its 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.

The Company owns and operates two ilmenite mines in Norway. It also sells ilmenite ore to third-parties. It manufactures and sells iron-based chemicals, which are co-products and processed co-products of the sulfate and chloride process TiO2pigment production. These co-product chemicals are marketed through its Ecochem division and are used as treatment and conditioning agents for industrial effluents and municipal wastewater, as well as in the manufacture of iron pigments, cement and agricultural products. It manufactures and sells titanium oxychloride and titanyl sulfate, which are side-stream specialty products from the production of TiO2. Titanium oxychloride is used in specialty applications in the formulation of pearlescent pigments, production of electroceramic capacitors for cell phones and other electronic devices. Titanyl sulfate productions are used in pearlescent pigments, natural gas pipe and other specialty applications. It operates four TiO2 plants in Europe (one in each of Leverkusen, Germany; Nordenham, Germany; Langerbrugge, Belgium; and Fredrikstad, Norway). In North America, it has a TiO2 plant in Varennes, Quebec, Canada and, through the manufacturing joint venture, a 50% interest in a TiO2 plant in Lake Charles, Louisiana.

The Company competes with E.I. du Pont de Nemours & Co., National Titanium Dioxide Company Ltd., Huntsman Corporation, Tronox Incorporated and Sachtleben Chemie GmbH.

Company Address

Kronos Worldwide Inc

Suite 1700, 5430 LBJ Freeway
DALLAS   TX   75240-2697
P: +1972.2331700
F: +1302.6365454

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