Financial News

NL Industries’ TiO2 Sales Drop in Third Quarter

August 9, 2005

 NL Industries, Inc. has reported that the operating income of its
Kronos’ titanium dioxide pigments business in the third
quarter dropped 37% to $36.2 million compared to $57.5
million in the third quarter of 2000. The decrease in operating
income is primarily due to lower average selling
prices in billing currencies and lower sales and production
volumes. Operating income in the first nine months of
2001 decreased 20% to $133.3 million compared to $166.5
million in the first nine months of 2000 due to 10% lower
sales volume and four percent lower production volume.
J. Landis Martin, NL’s president and CEO said, “The
sustained slowdown in the worldwide economy continues
to cause a reduction in demand for TiO2, thereby hampering
our efforts to improve TiO2 prices. Based on the current
market conditions, we expect TiO2 prices to continue
to trend downward through the end of the year and perhaps
into the first quarter of 2002.”
Kronos’ Leverkusen sulfate-process plant, which had
been damaged in a fire, became approximately 50% operational
in September and was expected to be fully operational
by the end of October, according to the company.

Related Raw Materials: