KRONOS WORLDWIDE, INC. Contact: Gregory M. Swalwell
Three Lincoln Centre Vice President, Finance
5430 LBJ Freeway, Suite 1700 and Chief Financial
Dallas, Texas 75240-2697 Officer
(972) 233-1700
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News Release
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FOR IMMEDIATE RELEASE
KRONOS WORLDWIDE, INC. ANNOUNCES COMPLETION OF
EXCHANGE OFFER FOR (euro)90 MILLION OF SENIOR SECURED NOTES
OF ITS KRONOS INTERNATIONAL, INC. SUBSIDIARY
DALLAS, TX - August 16, 2005 - Kronos Worldwide, Inc. (NYSE: KRO) today
announced that its wholly-owned subsidiary, Kronos International, Inc.,
completed its previously announced offer to exchange (euro)90 million aggregate
principal amount of 8 7/8% Senior Secured Notes due 2009 issued on November 26,
2004 for a like principal amount of notes that have been registered under the
Securities Act of 1933, as amended. The Company was advised by the exchange
agent for the exchange offer that an aggregate principal amount of
(euro)87,990,000 were tendered in the exchange offer.
Kronos International, Inc. conducts Kronos Worldwide's titanium dioxide pigments
operations in Europe.
The statements in this release relating to matters that are not historical facts
are forward-looking statements that represent management's beliefs and
assumptions based on currently available information. Forward-looking statements
can be identified by the use of words such as "will," "anticipates," "expects,"
or comparable terminology or by discussions of strategy or trends. Although we
believe that the expectations reflected in such forward-looking statements are
reasonable, it cannot give any assurances that these expectations will prove to
be correct. Such statements by their nature involve risks and uncertainties,
including, but not limited to, global economic and political conditions,
financial market conditions, changes in foreign currency exchange rates,
operating interruptions (including, but not limited to, labor disputes, leaks,
fires, explosions, unscheduled downtime, transportation interruptions, war and
terrorist activities), and other risks and uncertainties detailed in our
Securities and Exchange Commission filings. Should one or more of these risks
materialize (or the consequences of such a development worsen), or should the
underlying assumptions prove incorrect, actual results could differ materially
from those forecasted or expected. We disclaim any intention or obligation to
update publicly or revise such statements, whether as a result of new
information, future events or otherwise.
Kronos Worldwide, Inc. is a major international producer of titanium dioxide
pigments.
This news release does not constitute an offer to sell or the solicitation of
any offer to buy any securities.