Profile: Kronos Worldwide Inc (KRO.N)
1 May 2015
Kronos Worldwide, Inc. (Kronos), incorporated on October 13, 1989, is a global producer and marketer of titanium dioxide pigments (TiO2). TiO2 is used for a variety of manufacturing applications, including coatings, plastics, paper, and other industrial and specialty products. The Company’s products include anatase pigments; rutile pigments for coatings, plastics and paper; non-pigmentary; food, drug and cosmetic grades; photo catalysts; and titanium chemicals. The Company’s range of products includes over 40 different TiO2 pigment grades under the Kronos brand.
As of September 30, 2014, approximately 50% of the Company was owned by Valhi, Inc. (Valhi) and approximately 30% was owned by NL Industries, Inc. (NL Industries). Valhi also owns approximately 83% of NL Industries’ outstanding common stock. Its customers include domestic and international paint, plastics, decorative laminate and paper manufacturers. The Company ships TiO2 to its customers in either a powder or slurry form through rail, truck or ocean carrier. 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 in industrial coatings, as well as in 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. Its primary focus is on the TiO2 grades used in paper laminates. Kronos’ TiO2 is also used in textile applications where TiO2 functions as an opacifying and delustering agent. The Company produces anatase TiO2 that is used 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. In pharmaceuticals, the Company’s TiO2 is used as a colorant in pill and capsule coatings, as well as in liquid medicines.
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 TiO2 pigment 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, the Company 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.
Kronos competes with E.I. du Pont de Nemours & Co., National Titanium Dioxide Company Ltd., Huntsman Corporation, Tronox Incorporated and Sachtleben Chemie GmbH.
Kronos Worldwide Inc
5430 Lyndon B Johnson Fwy Ste 17
DALLAS TX 75240-2620