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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
November 20, 1996
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(Date of Report, date of earliest event reported)
VALHI, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 1-5467 87-0110150
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
5430 LBJ Freeway, Suite 1700, Dallas, TX 75240-2697
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(Address of principal executive offices) (Zip Code)
(972) 233-1700
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or address, if changed since last report)
Item 5: Other Events
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On November 20, 1996, 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
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and Exhibits
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(c) Exhibit
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Item No. Exhibit Index
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99.1 Press release dated November 20, 1996
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
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Steven L. Watson
Vice President & Secretary
Date: November 21, 1996
[COMPANY LOGO]
FOR IMMEDIATE RELEASE: CONTACT:
VALHI, INC. JOSEPH S. COMPOFELICE
THREE LINCOLN CENTRE EXECUTIVE VICE PRESIDENT
5430 LBJ FREEWAY (713) 423-3303
DALLAS, TEXAS 75240-2697
(972) 233-1700
VALHI, INC. COMPLETES SALE OF IRISH OPERATIONS
Dallas, Texas ... November 20, 1996 ... Valhi, Inc.
(NYSE:VHI) announced that it has completed the previously
announced sale of its Irish medium density fiberboard operations
to Willamette Industries, Inc. (NASDAQ:WMTT) for $61.5 million in
cash proceeds, plus the assumption by Willamette of approximately
$21 million of Irish bank debt. These operations were part of
Valhi's building products business operated by Medite Corporation,
a wholly owned subsidiary of Valcor, Inc., which is a wholly owned
subsidiary of Valhi. The Company will use the proceeds of the sale
for general corporate purposes.
Valhi closed on October 30, 1996 the previously announced
sale of Medite's Oregon timber and timberlands to Rogue Resources
LLC, an Oregon based partnership of forest operators, for
approximately $118 million in cash proceeds, $53 million of which
was used to pay down Medite U.S. bank debt.
The previously announced sale of Medite's medium density
fiberboard manufacturing facility, and veneer and sawmill
facilities located in Medford, Oregon and the surrounding area, to
Sierra Pine, a California limited partnership, continues to be
subject to the negotiation of a definitive agreement. Upon
consummation of the sale of the Medford, Oregon medium density
fiberboard facility, Valhi will have sold substantially all of its
building products business. No assurance can be given that the
sale of the Oregon facilities will be completed.
Valhi, Inc. is a major producer of chemicals, refined sugar
and other products.