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


                                  May 15, 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)


                                 Not applicable

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


Item 5: Other Events


        On May 15, 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 May 15, 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:  May 15, 1997

[LOGO]


                          PRESS RELEASE



FOR IMMEDIATE RELEASE:                           CONTACT:

VALHI, INC.                                       STEVEN L. WATSON
THREE LINCOLN CENTRE                                   VICE PRESIDENT
5430 LBJ FREEWAY                                  (972) 233-1700
DALLAS, TEXAS 75240-2697                          (972) 239-0142 (FAX)



                VALHI ANNOUNCES REFINANCING OF LOANS RECEIVABLE

     Dallas, Texas . . . May 15, 1997 . . . Valhi, Inc. (NYSE: VHI) announced
today that Snake River Sugar Company, an Oregon cooperative, has completed $100
million in term loan financing with third party lenders.  Proceeds of the loan
will be utilized to repay approximately $100 million of $192 million in debt
financing provided by Valhi in conjunction with the January 3, 1997 transfer of
control to Snake River of the refined sugar business previously conducted by The
Amalgamated Sugar Company, an indirect wholly owned subsidiary of Valhi.
Following the refinancing, Valhi loans to Snake River will be reduced to $87
million.

     Valhi is engaged in the chemicals, component products and waste management
industries.
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