M&A - KRONOS WORLDWIDE INC

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000155837025006743

Filing Summary: For the quarterly period ending March 31, 2025, Kronos Worldwide, Inc. reported a significant acquisition of a 50% joint venture interest in Louisiana Pigment Company, previously held by Venator Investments, which now makes LPC a wholly-owned subsidiary of Kronos. The financial statements indicate total assets increased from $1,913.5 million to $1,946.0 million, along with an increase in net sales from $478.8 million to $489.8 million. Net income also saw an increase from $8.1 million in Q1 2024 to $18.1 million in Q1 2025, attributed to improved gross margins and operational efficiency. The document outlines the company's financial position with various segments and compliance notes, including risks associated with operating in multiple geographical areas and market volatility. Additionally, it discloses current liabilities, long-term debt, and changes in stockholders' equity, emphasizing the ongoing adjustments to achieve a stronger balance sheet and sustainable growth.