EXHIBIT 12.1

                   Kronos International, Inc. and Subsidiaries
    Statements of Computation of Ratio of Earnings to Combined Fixed Charges
                                  (Unaudited)
                          (In millions, except ratios)

<TABLE>

                                                                       Years ended December 31,
                                                       ----------------------------------------------------
                                                        2001        2002       2003        2004       2005
                                                       -----        ----       ----        ----       ----

Fixed charges:
<S>                                                   <C>         <C>        <C>         <C>         <C>
  Total interest expense                              $  38.4     $  35.4    $  32.6     $  36.7     $  43.9
  Preferred stock dividends and
   accretion(1)                                         112.5        78.6         -           -           -
  Interest component of rent expense(2)                   2.1         2.4        3.0         2.7         2.8
                                                      -------     -------    -------     -------     -------

    Total fixed charges                                 153.0       116.4       35.6        39.4        46.7
                                                      -------     -------    -------     -------     -------

Adjustments:
  Income before income taxes and minority
   interest                                             128.2        63.2       82.6        64.8       118.9
  Amortization of capitalized interest                     .5          .5         .5          .5          .4
                                                      -------     -------    -------     -------     -------

    Total adjustments                                   128.7        63.7       83.1        65.3       119.3
                                                      -------     -------    -------     -------     -------

    Total earnings available for fixed
     charges                                          $ 281.7     $ 180.1    $ 118.7     $ 104.7     $ 166.0
                                                      =======     =======    =======     =======     =======

Ratio of earnings to combined fixed charges               1.8         1.5        3.3         2.7         3.6
                                                      =======     =======    =======     =======     =======
</TABLE>


(1)  There is no adjustment  to the amount shown on the  Company's  consolidated
     statements of income for  dividends  and accretion on redeemable  preferred
     stock to obtain an equivalent  pre-tax amount.  During the periods in which
     the redeemable preferred stock was outstanding, Kronos International,  Inc.
     had a significant  amount of net operating loss  carryforwards  in Germany,
     the    benefit   of   which   had   not   been    recognized    under   the
     "more-likely-than-not"   recognition  criteria  of  accounting   principles
     generally  accepted  in the  United  States of  America.  Accordingly,  the
     equivalent pre-tax amount for such dividends and accretion would not differ
     from the amount of such dividends and accretion.

(2)  The interest expense component of rental expense is calculated as one-third
     of the  aggregate  rent  expense  for  each  year,  which  is a  reasonable
     approximation of the interest factor.