SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
June 7, 1996
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(Date of Report, date of earliest event reported)
VALHI, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 1-5467 87-0110150
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
5430 LBJ Freeway, Suite 1700, Dallas, TX 75240-2697
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(Address of principal executive offices) (Zip Code)
(214) 233-1700
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or address, if changed since last report)
Item 5: Other Events
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On June 7, 1996, the Registrant issued the press
release attached hereto as Exhibit 99.1 which is incorporated
herein by reference.
Item 7: Financial Statements, Pro Forma Financial Information
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and Exhibits
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(c) Exhibit
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Item No. Exhibit Index
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99.1 Press release dated June 5, 1996
issued by the Registrant
SIGNATURES
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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.
VALHI, INC.
(Registrant)
By: /s/ Steven L. Watson
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Steven L. Watson
Vice President & Secretary
Date: June 7, 1996
PRESS RELEASE
FOR IMMEDIATE RELEASE:
FOR FURTHER INFORMATION, CONTACT:
ALLAN M. LIPMAN, JR., RANDON W. WILSON, ATTORNEY FOR
PRESIDENT SNAKE RIVER SUGAR COMPANY
THE AMALGAMATED SUGAR COMPANY JONES WALDO HOLBROOK & MCDONOUGH
2427 LINCOLN AVENUE 1500 FIRST INTERSTATE PLAZA
P.O. BOX 1520 170 SOUTH MAIN STREET
OGDEN, UT 84402 SALT LAKE CITY, UT 84101
(801) 399-3431 (801) 521-3200
(801) 393-8042 (FAX) (801) 328-0537 (FAX)
STEVEN L. WATSON, VICE
PRESIDENT
VALHI, INC.
THREE LINCOLN CENTRE
5430 LBJ FREEWAY, SUITE 1700
DALLAS, TEXAS 75240-2697
(214) 233-1700
(214) 239-0142 (FAX)
Dallas, Texas . . . June 5, 1996 . . . Valhi, Inc. (NYSE:
VHI) jointly announced today with Snake River Sugar Company, an
Oregon cooperative association, the execution of a letter of
intent by which Snake River would acquire 100% of the voting stock
of The Amalgamated Sugar Company from Amcorp, Inc., a wholly owned
subsidiary of Valhi.
Completion of the transaction is subject to, among other
things, execution of definitive agreements, obtaining of
sufficient bank financing by Snake River and execution of
membership agreements by approximately 1600 sugarbeet growers in
Idaho, Oregon and Washington. Depending on the form of the
acquisition, Amcorp would receive consideration with a value of
$250 million in either a tax-free or tax-deferred transaction,
subject to certain post closing adjustments based on operating
performance. The growers will be required to commit approximately
220,000 acres of sugarbeets to Snake River and to pay
approximately $400 per acre to subscribe to preferred stock in the
cooperative which will raise net funds of approximately $86
million.
George Grant, Chairman of Snake River, stated, ``We are
delighted with the prospect that the growers will now be able to
own the sugar factories and other facilities that have served us
for so many years. We are happy to continue the trend of
sugarbeet growers in the United States who have acquired their
processing capability. This is indeed a great day for sugarbeet
growers in our region.'' Allan Lipman, President of Amalgamated,
stated, ``Amalgamated has provided a processing capability and a
market to sugarbeet growers for a century. We now look forward to
working more closely with the growers in adding value to their
farming operations. This will allow Amalgamated to continue as a
highly competitive sugar processor in the United States.''
Amalgamated operates sugar factories in Twin Falls, Paul, and
Nampa, Idaho, and in Nyssa, Oregon. It also has other sugar
facilities in the states of Oregon, Utah, Idaho, Colorado and
Washington.
Valhi is engaged in the chemicals, refined sugar, building
products and other industries.
