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 earliest event reported): January 4, 1999
NL INDUSTRIES, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
New Jersey 1-640 13-5267260
- --------------------------------------------------------------------------------
(State or other (Commission File No.) (Employer ID No.)
jurisdiction of
incorporation)
16825 Northchase Dr., Suite 1200, Houston, Texas 77060
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (281) 423-3300
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
On January 4, 1999, the Registrant issued the press release attached
hereto as Exhibit 99.1 and incorporated herein in its entirety by this
reference.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
(i) Exhibit 99.1. Press Release dated January 4, 1999.
* * * * *
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 thereunto duly authorized.
NL INDUSTRIES, INC.
(Registrant)
____________________________
/s/ David B. Garten
David B. Garten
Vice President, Secretary &
General Counsel
Dated: January 4, 1999
SUSAN E. ALDERTON
212/421-7202
EXHIBIT 99.1
FOR RELEASE ON JANUARY 4, 1999
NL Industries, ICI and Du Pont End TiO2 Acquisition Agreement
HOUSTON, TEXAS -- January 4, 1999 -- NL Industries, Inc. (NYSE:NL)
announced today that the previously announced agreements among NL, Imperial
Chemical Industries plc and E.I. du Pont de Nemours & Company, under which NL
would have acquired the North American TiO2 operations of ICI's subsidiary,
Tioxide Group Limited, and a UK-based TiO2 plant, have been terminated. NL said
that the transactions had been conditioned upon regulatory clearances and the
completion of the purchase of Tioxide's non-North American operations by Du
Pont, among other things. NL stated that the termination followed the United
States Federal Trade Commission's failure to clear the transactions on terms
agreeable to all of the parties.
Mr. J. Landis Martin, President and Chief Executive Officer of NL said:
"Naturally, we are disappointed at not being able to move forward with this
acquisition of additional TiO2 capacity. However, we have a strong balance sheet
and we remain committed to the industry. We will continue to explore
opportunities for acquisitions or other business combinations in the TiO2
business and in the chemicals industry generally."
NL Industries, Inc. is a major international producer of titanium dioxide
pigments.
The statements in this release relating to matters that are not historical
facts are forward-looking statements that involve risks and uncertainties,
including, but not limited to, future global economic and political conditions,
global TiO2 production capacity and the amount and timing of capacity changes,
competitive products and prices, and other risks and uncertainties detailed in
the Company's Securities and Exchange Commission filings. Actual results could
differ materially from those forecasted or expected.
