UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of the earliest event reported)
December 9, 2010
Kronos Worldwide, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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1-31763
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76-0294959
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(State or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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5430 LBJ Freeway, Suite 1700, Dallas, Texas
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75240-2697
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code
(972) 233-1700
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(Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01
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Regulation FD Disclosure.
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The registrant hereby furnishes the information set forth in the press release issued on December 9, 2010, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information, including the exhibit, the registrant furnishes in this report is not deemed “filed” for purposes of section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Registration statements or other documents filed with the U.S. Securities and Exchange Commission shall not incorporate this information by reference, except as otherwise expressly stated in such filing.
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Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits
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Item No.
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Exhibit Index
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99.1
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Press release dated December 9, 2010 issued by the registrant.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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KRONOS WORLDWIDE, INC.
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(Registrant)
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By: /s/ A. Andrew R. Louis
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Date: December 9, 2010
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A. Andrew R. Louis, Secretary
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INDEX TO EXHIBITS
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Item No.
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Exhibit Index
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99.1
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Press release dated December 9, 2010 issued by the registrant.
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KRONOS ANNOUNCES COMMON STOCK REPURCHASE PROGRAM
DALLAS, TEXAS . . . December 9, 2010 . . . Kronos Worldwide, Inc. (NYSE: KRO) announced today that its board of directors has authorized the repurchase of up to 1.0 million shares of Kronos’ common stock in open market transactions, including block purchases, or in privately negotiated transactions, which may include transactions with affiliates of Kronos, at such times and in such amounts deemed appropriate by Kronos.
The stock repurchase program does not include specific price targets or timetables and may be suspended at any time. The share repurchase program will be conducted in compliance with all applicable state and federal laws. Depending on market conditions, the program could be terminated prior to completion. Kronos will use its cash on hand and future cash flow to acquire the shares. Repurchased shares will be retired and cancelled or may be added to Kronos’ treasury and could be used for future acquisitions or other corporate purposes.
Steven L. Watson, Vice Chairman and Chief Executive Officer, said, “Kronos has continued to focus on maximizing its productive output in response to the current global shortage and favorable long term outlook for demand in the titanium dioxide industry. We believe our current and foreseeable liquidity position will allow us to expand the productive capacity of our facilities to their full practical limits and take advantage of appropriate expansion and acquisition opportunities which may occur in the future. In addition, purchases would be made under the stock repurchase program if market conditions for our shares present an attractive opportunity to create additional stockholder value.”
Statements in this release which are not historical facts are “forward looking” statements and “safe harbor statements” within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and other related laws that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Company’s public filings with the Securities and Exchange Commission. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. These forward-looking statements involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include market conditions for c
orporate debt and equity generally, for the securities of similar companies and for the Company’s common stock in particular. In providing forward-looking statements, the Company is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise except as required by law.
Kronos Worldwide, Inc. is a major international producer of titanium dioxide products.
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