Valhi, Inc. engages in the chemicals, component products, and real estate management and development businesses in the Asia Pacific, Europe, North America, and internationally. The company's Chemicals segment produces and markets titanium dioxide pigments (TiO2), which are white inorganic pigments used in various applications by paint, plastics, decorative laminate, and paper manufacturers. It offers TiO2 under the KRONOS name through agents and distributors. The company's Component Products segment manufactures mechanical and electrical cabinet locks, and other locking mechanisms for use in ignition systems, mailboxes, file cabinets, desk drawers, tool storage cabinets, vending and cash containment machines, integrated inventory and access control secured narcotics boxes, medical cabinetry security, electronic circuit panels, storage compartments, and gas station security applications. It also provides stainless steel exhaust components, gauges, throttle controls, wake enhancement systems, trim tabs, and related hardware and accessories primarily for performance and ski/wakeboard boats. The company's Real Estate Management and Development segment offers utility services to industrial and municipal customers; owns real properties; and develops land holdings for commercial, industrial, and residential purposes. It also holds marketable securities and other investments. The company was incorporated in 1932 and is based in Dallas, Texas. Valhi, Inc. is a subsidiary of Contran Corporation.
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Titanium Dioxide Pigments: Manufactures and markets titanium dioxide pigments used in various products such as coatings, plastics, paper, and fibers.
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Security Products: Designs, manufactures, and markets mechanical and electrical locks and other specialized security products for a wide range of applications.
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Ergonomic Components: Produces gas springs and monitor arms primarily for the office furniture and other industrial markets.
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Valhi (symbol: VHI) is a diversified holding company whose operating subsidiaries primarily sell to other businesses (B2B) rather than directly to individual consumers.
Based on the company's public filings, Valhi does not have individual major customers that account for a significant portion (e.g., more than 10%) of its consolidated net sales. Instead, its subsidiaries serve a broad and diversified base of industrial and commercial clients globally. Therefore, specific customer company names with their symbols cannot be provided. However, the major categories of customer companies served by Valhi's principal operating subsidiaries include:
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For Kronos Worldwide, Inc. (KRO) - Titanium Dioxide Pigments:
- Manufacturers of paints and coatings
- Manufacturers of plastics
- Manufacturers of paper
- Producers of inks, fibers, and ceramics
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For CompX International Inc. (CIX) - Security Products and Marine Components:
- Original Equipment Manufacturers (OEMs) for office and institutional furniture, postal equipment, healthcare equipment, and other diversified industrial applications
- Manufacturers of recreational boats (for marine components)
- Specialty steel fabricators, distributors, and locksmiths
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For Waste Control Specialists LLC - Waste Services:
- Industrial companies requiring hazardous, industrial, and radioactive waste disposal
- Government entities
- Utility companies
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Michael S. Simmons, Chief Executive Officer, President and Vice Chairman of the Board
Michael S. Simmons became Chief Executive Officer of Valhi, Inc. on January 1, 2023, and President on May 26, 2022. He also serves as Vice Chairman of the Board. Prior to these roles at Valhi, he served as Executive Vice President of NL Industries, Inc. from June 2022 to January 2023. Mr. Simmons also holds the position of Vice Chairman at Kronos Worldwide, Inc. since January 1, 2023. He previously held roles as VP:Finance at Kronos Worldwide, Inc., Dir:Special Projects at Contrans Group Inc., and VP/Chief Accounting Officer at Valhi Inc.
Amy Allbach Samford, Executive Vice President and Chief Financial Officer
Amy Allbach Samford serves as the Executive Vice President and Chief Financial Officer of Valhi, Inc. She assumed the role of Director of Finance/CFO on June 1, 2021. Her previous roles include Chief Financial Officer & Senior Vice President.
Courtney J. Riley, Executive Vice President
Courtney J. Riley is an Executive Vice President at Valhi, Inc. She has also served as Executive Vice President, Environmental Affairs.
Andrew B. Nace, Executive Vice President and General Counsel
Andrew B. Nace holds the position of Executive Vice President and General Counsel for Valhi, Inc. He also serves as Public Communications Contact. He has served as Executive Vice President and General Counsel.
John A. Sunny, Executive Vice President and Chief Information Officer
John A. Sunny is an Executive Vice President and Chief Information Officer at Valhi, Inc. He has also been noted as Senior Vice President-Information Technology and Chief Tech/Sci/R&D Officer.
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The increasing adoption of smart locks, electronic access control systems, and integrated smart home security solutions represents an emerging threat to Valhi's traditional mechanical lock and key products manufactured by its CompX International subsidiary. These newer technologies offer enhanced convenience, remote management, and advanced features that are increasingly preferred by consumers and businesses, potentially leading to a decline in demand for conventional mechanical security hardware.
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Valhi, Inc. (VHI) operates primarily through three segments: Chemicals, Component Products, and Real Estate Management and Development.
Here's an overview of the addressable markets for their main products and services:
Chemicals Segment: Titanium Dioxide Pigments
Valhi, through its subsidiary Kronos Worldwide, Inc., produces and markets titanium dioxide (TiO2) pigments, which are utilized in a wide range of industrial and consumer products, including paints, coatings, plastics, paper, and cosmetics.
- The global titanium dioxide market was valued at approximately USD 22.28 billion in 2024. Projections indicate growth to USD 40.07 billion by 2032, with a compound annual growth rate (CAGR) of 7.1% from 2025 to 2032. Other estimates place the 2024 value at USD 20.9 billion, growing to USD 35 billion by 2034 at a CAGR of 5.3%. Another report estimates the market at USD 22.08 billion in 2024, expecting it to reach USD 38.58 billion by 2033, with a CAGR of 6.4% during 2025–2033.
- Asia Pacific dominated the global titanium dioxide market in 2024, holding a share of 53.95%.
Component Products Segment: Security Products and Recreational Marine Products
This segment, through CompX International Inc., manufactures security products for various industries such as postal, recreational transportation, office and institutional furniture, cabinetry, tool storage, and healthcare. It also produces wake enhancement systems, stainless steel exhaust systems, gauges, throttle controls, trim tabs, and related hardware for the recreational marine industry.
- The global electronic components market, which can include some of these products, was valued at approximately USD 393.63 billion in 2024 and is projected to reach USD 847.88 billion by 2032, growing at a CAGR of 10.3% during the forecast period (2025-2032). Another source estimates the global electronic components market size at USD 442.82 billion in 2024, expected to reach USD 1,180.28 billion by 2034, with a CAGR of 10.3% from 2024 to 2034. Asia Pacific is a dominant region in this market.
- While a specific global market size for "security products used in the postal, recreational transportation, office and institutional furniture, cabinetry, tool storage, healthcare, and a variety of other industries" as a consolidated market, or for "recreational marine industry products" in the specific detail that Valhi provides them, is not readily available, the broader electronic components market provides some context for a portion of this segment's offerings. The global industrial component hardware market was not specifically quantified in the search results but is noted to be growing.
Real Estate Management and Development Segment
This segment involves owning and developing real property in Henderson, Nevada, for commercial, industrial, and residential purposes.
- A specific addressable market size for real estate development solely within Henderson, Nevada, is not available through the conducted searches. The real estate market is highly localized, and comprehensive market sizing at this granular level is typically found in specialized local reports.
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Valhi (NYSE: VHI) is expected to see future revenue growth driven by several key factors across its operating segments over the next two to three years:
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Increased Sales Volumes for Titanium Dioxide (TiO2): Valhi's Chemicals segment, primarily Kronos Worldwide, anticipates revenue growth through higher sales and production volumes, particularly within its North American and European markets. This was evidenced by stronger volumes in Q1 2025.
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Favorable Titanium Dioxide (TiO2) Selling Prices: While market conditions can lead to fluctuations, improved or sustained elevated average TiO2 selling prices are a crucial driver for the Chemicals segment's revenue expansion. Higher selling prices contributed to increased net income for Kronos in Q1 2025.
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Growing Demand for Security Products: The Component Products segment, through CompX International, is poised for continued revenue growth. This is largely propelled by increased demand for its security products, especially from the government security and healthcare sectors. CompX reported significant sales increases in these areas during 2025.
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Strong Market for Marine Components: CompX International's Marine Components division is projected to maintain its robust revenue growth trajectory. This growth is fueled by strong demand from diverse markets, including government, towboat, and industrial sectors, as seen in recent quarterly results.
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Synergies and Expanded Capacity from Strategic Acquisitions: The full integration of the Louisiana Pigment Company (LPC) acquisition into Kronos Worldwide is expected to enhance revenue. This move provides Kronos with greater control over a key TiO2 production source and is anticipated to boost annual production volumes by 15-20%.
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Share Repurchases
- As of September 30, 2025, Valhi had approximately 0.3 million shares available to repurchase under authorizations made by its board of directors.
- Kronos, a majority-owned subsidiary of Valhi, had its board of directors authorize the repurchase of up to 2.0 million shares of its common stock.
Outbound Investments
- Effective July 16, 2024, Valhi's Chemicals Segment acquired the remaining 50% joint venture interest in Louisiana Pigment Company, L.P. (LPC) from Venator Investments, Ltd., making LPC a wholly-owned subsidiary.
- This acquisition resulted in a non-cash gain of $64.5 million, or $33.6 million net of tax and noncontrolling interest, recognized in the third quarter and first nine months of 2024, related to the remeasurement of the investment.
Capital Expenditures
- Valhi anticipates aggregate capital expenditures for 2025 to be approximately $58 million, comprising $55 million for its Chemicals Segment and $3 million for its Component Products Segment.
- In addition, Valhi's Real Estate Management and Development Segment (LandWell) expects to incur approximately $53 million in land development costs during 2025.
- For 2024, Valhi expected aggregate capital expenditures of approximately $53 million, with $50 million for the Chemicals Segment and $3 million for the Component Products Segment, alongside an estimated $55 million for land development costs by LandWell.
