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


                                January 3, 1997
                  ------------------------------------------------
                  (Date of Report, date of earliest event reported)


                                     VALHI, INC.
                 ---------------------------------------------------
               (Exact name of Registrant as specified in its charter)


                 Delaware              1-5467               87-0110150
            ---------------------------------------------------------------
               State or other         (Commission         (IRS Employer
               jurisdiction of       File Number)         Identification
               incorporation)                                  No.)


              5430 LBJ Freeway, Suite 1700, Dallas, TX     75240-2697
             ----------------------------------------------------------
               (Address of principal executive offices)     (Zip Code)


                                  (972) 233-1700
            ------------------------------------------------------------
                (Registrant's telephone number, including area code)


               (Former name or address, if changed since last report)



          Item 5: Other Events
                  ------------

                  On January  3,  1997,  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
                  -------------------------------------------------------
                  and Exhibits
                  ------------

                  (c)  Exhibit
                       -------

                       Item No.         Exhibit Index
                       --------  -----------------------------------


                       99.1      Press release dated January 3, 1997
                                 issued by the Registrant



                                     SIGNATURES
                                     ----------



                  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
                                               ---------------------------
                                                Steven L. Watson
                                                Vice President & Secretary



          Date:  January 3, 1997
                 ---------------