UNITED
STATES
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 the earliest event reported)
August
12, 2008
Valhi,
Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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1-5467
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87-0110150
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(State
or other jurisdiction of incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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5430
LBJ Freeway, Suite 1700, Dallas, Texas
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75240-2697
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code
(972)
233-1700
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(Former
name or former address, if changed since last report.)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
7.01
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Regulation
FD Disclosure.
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The
registrant hereby furnishes the information set forth in its press release
issued on August 12, 2008, a copy of which is attached hereto as Exhibit 99.1
and incorporated herein by reference.
The
information, including the exhibit, the registrant furnishes in this report is
not deemed “filed” for purposes of section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that
section. Registration statements or other documents filed with the
U.S. Securities and Exchange Commission shall not incorporate this information
by reference, except as otherwise expressly stated in such filing.
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Item
9.01
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Financial
Statements and Exhibits.
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(d)
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Exhibits
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Item
No.
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Exhibit
Index
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99.1
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Press
release dated August 12, 2008 issued by the
registrant.
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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 hereunto
duly authorized.
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Valhi,
Inc.
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(Registrant)
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By: /s/ A. Andrew R. Louis
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Date: August
13, 2008
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A.
Andrew R. Louis, Secretary
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INDEX
TO EXHIBITS
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Item
No.
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Exhibit
Index
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99.1
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Press
release dated August 12, 2008 issued by the
registrant.
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Valhi,
Inc. Announces
Low-Level
Radioactive Waste Disposal License Decision
DALLAS,
TEXAS . . . August 12, 2008 . . . Valhi, Inc. (NYSE: VHI) announced today that
its wholly-owned subsidiary, Waste Control Specialists LLC (“WCS”), has been notified
that the Executive Director of the Texas Commission on Environmental Quality
(“TCEQ”) has issued a
draft license for the near-surface disposal of Class A, B and C low-level
radioactive waste (“LLRW”) at WCS’ site in
Andrews County, Texas.
“This is
an important milestone for WCS, the people of Andrews and Lea Counties and the
states of Texas and Vermont, as members of the Texas Compact,” said William J.
Lindquist, Chief Executive Officer of WCS. “In addition to providing more than
75 new jobs at our Andrews County facility, this license will ensure that Texas
and Vermont hospitals, universities, power plants and other enterprises will be
able to continue operating with the knowledge that there is an assured solution
for the permanent disposal of their LLRW. With the closure of the Barnwell
facility in South Carolina last month, Texas hospital and university
administrators have expressed concern regarding the need for a commercial
facility that can properly dispose of Class A, B and C LLRW so that the
diagnosis, treatment and research of cancer and other life threatening diseases,
which generate such wastes, can continue. The only U.S. commercial facility
currently authorized to accept LLRW is limited to disposal of Class A waste. The
barriers to entry in this industry are enormous. It is very unlikely another
LLRW disposal facility will be opened in the foreseeable future, as more than $1
billion has been invested since 1980 by the state of Texas and others in
unsuccessful attempts to license and open such a facility. The
TCEQ recently issued a byproduct material disposal license to
WCS. When the LLRW disposal license is finalized, we believe WCS will
have the broadest range of
capabilities of any commercial enterprise in the U.S. for the storage, treatment
and disposal of hazardous, toxic, low level and mixed low level radioactive
waste and radioactive byproduct material, providing WCS a significant and
valuable competitive advantage in this multi-billion dollar
industry.”
“In
addition, this LLRW disposal license will allow WCS to provide a significant
service in our country’s quest for energy independence. In the next 15 to 20
years, Texas is expected to double its existing power generation capacity to
accommodate increased demand and retiring power plants. Because
only 7% of Texas’ current generating capacity comes from nuclear power, compared
to 20% nationally, much of this increased capacity will likely be nuclear
generated. The LLRW generated from this increased capacity will
have the disposal capacity needed in Texas at WCS,” said Mr.
Lindquist.
Steven L.
Watson, President and Chief Executive Officer of Valhi, said “Valhi has
sponsored WCS’ operations and licensing efforts for over 12 years. We
believe the prospects for this business are extraordinary, due to the unique
characteristics of the industry and WCS’ experience and the extensive disposal
and treatment capabilities it will be able to provide upon finalization of the
LLRW disposal license. With the continuing strong support for the
facility by the citizens of the surrounding area, WCS will now be in a position
to significantly grow and expand its business.”
The WCS
LLRW disposal license application, an overview of the WCS LLRW disposal license
application, a timeline of the remaining licensing process and the draft LLRW
disposal license may be found at www.wcstexas.com under
Documents & Forms.
The WCS
facility in Andrews County, Texas is currently licensed for the processing,
storage and disposal of a broad range of hazardous and toxic waste, byproduct
material and certain types of low-level and mixed LLRW.
Valhi is
engaged in the titanium dioxide pigments, component products (security products,
furniture components and performance marine components) and waste management
industries.
Statements
in this release that are not historical in nature are forward-looking in nature
that represent the Company’s beliefs and assumptions based on currently
available information. In some cases, these forward-looking
statements can be identified by the use of words such as
“believes,” “intends,” “may,” “should,” “could,” “anticipates,” “expected”
or comparable terminology. Although the Company believes the
expectations reflected in such forward-looking statements are reasonable, the
Company does not know if these expectations will be
correct. Forward-looking statements by their nature involve
substantial risks and uncertainties that could significantly impact expected
results. Actual future results could differ materially from those predicted.
Among the factors that could cause the Company’s actual future results to differ
materially from those described herein are the risks and uncertainties described
from time to time in the Company’s filings with the Securities and Exchange
Commission.
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