# EDGAR Filing Document

**Accession Number:** 0001257640
**File Stem:** 0001257640-25-000027
**Filing Date:** 2025-9
**Character Count:** 21496
**Document Hash:** 080bffa4fbd7304fb8782c989c9ceeeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001257640-25-000027.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001257640-25-000027

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250903

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KRONOS WORLDWIDE INC
- **CENTRAL INDEX KEY:** 0001257640
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INORGANIC CHEMICALS [2810]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 760294959
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31763
- **FILM NUMBER:** 251287678

**BUSINESS ADDRESS:**
- **STREET 1:** 5430 LBJ FREEWAY
- **STREET 2:** SUITE 1700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75240-2620
- **BUSINESS PHONE:** 9722331700

**MAIL ADDRESS:**
- **STREET 1:** 5430 LBJ FREEWAY
- **STREET 2:** SUITE 1700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75240-2620

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KRONOS INC
- **DATE OF NAME CHANGE:** 20030730

?xml version='1.0' encoding='ASCII'? KRONOS WORLDWIDE, INC._September 3, 2025

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**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 earliest event reported)

**September 3, 2025**

**KRONOS WORLDWIDE, INC.**

(Exact name of registrant as specified in its charter)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Delaware** |  | **1-31763** |  | **76-0294959** |
| (State or other jurisdiction of |  | (Commission |  | (IRS Employer |
| incorporation) |  | File Number) |  | Identification No.) |

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| | |
|:---|:---|
| &nbsp;&nbsp;**5430 LBJ Freeway, Suite 1700, Dallas, Texas** <br>(Address of principal executive offices)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**75240-2620**<br>(Zip Code) |

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Registrant's telephone number, including area code

**(972) 233-1700**

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

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.):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Title of each class** |  | **Trading Symbol(s)** |  | **Name of each exchange on which registered** |
| Common Stock |  | KRO |  | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 7.01** **Regulation FD Disclosure.**

*Senior Notes Offering*

On September 3, 2025, Kronos Worldwide, Inc. ("Kronos" or the "Company") issued a press release announcing a private offering through an institutional private placement of €75 million of senior secured notes of its wholly-owned subsidiary, Kronos International, Inc. (the "Notes Offering"), subject to market conditions and other factors.

A copy of the press releases is attached hereto as Exhibit 99.1 and is incorporated by reference herein in accordance with Rule 135c of the Securities Act of 1933, as amended. Nothing in this filing or the attached press releases is an offer to sell or a solicitation of an offer to purchase any notes.

*2025 Outlook*

In connection with the Notes Offering, Kronos provided the following business update to prospective investors:

As we have previously disclosed, the customer demand momentum we experienced at the beginning of 2025 began to slow in the final weeks of the first quarter of 2025 and continued to slow through the second quarter of 2025 when overall customer demand decreased in all major markets. Customers continue to be cautious as a result of high interest rates and inflation concerns largely driven by ongoing global tariffs and trade tensions. We continue to expect demand to remain challenging until the uncertainty around tariffs is resolved. We believe customer inventory levels remain low; however, customers continue to be hesitant to build inventory, and we continue to receive orders on shorter notice than previously experienced. As we have previously disclosed, in the first quarter of 2025, we implemented tariff mitigation strategies, including building and pre-positioning inventory from our Canadian facility in the U.S., which resulted in increased shipping and warehousing costs and increased finished goods inventory in the U.S. As a result of weaker than expected demand in the second quarter of 2025, inventory balances remain elevated. We reduced our facility operating rates in the second quarter in response to the lower demand levels and we expect to continue to operate our facilities at reduced rates for the remainder of 2025 in response to lower demand levels and to sell down elevated inventory balances which we expect will result in increased cash flows, primarily during the fourth quarter of 2025.

Through the first half of 2025, our raw material, energy and other input costs have trended lower, and we expect this moderation to continue in the second half of 2025. We expect these cost improvements to be reflected in operating results late in the third quarter and the fourth quarter of 2025 as higher cost inventory is worked down. We continue to focus on cost reduction initiatives which we expect will result in reduced selling, general and administrative costs and operational process improvements aimed at reducing fixed costs. TiO<sub>2 </sub>selling prices have been pressured downward by reduced overall demand, favorable TiO<sub>2 </sub>availability and minimal order lead times in the marketplace. Imports of excess Chinese supply into various end use markets around the world have also negatively impacted TiO<sub>2 </sub>pricing. However, recently western producers have been successful in getting tariffs and anti-dumping duties enacted against Chinese producers in certain regions of the world which has helped slow down the movement of Chinese supply into these regions and which we believe will improve pricing and strengthen TiO<sub>2 </sub>demand in 2026 and beyond.

Overall, due to weaker than expected demand, pricing pressures and lower fixed cost absorption as a result of reduced operating rates, we expect to report lower operating results for the full year of 2025 as compared to 2024. However, we believe we will be well-positioned when TiO<sub>2</sub> markets ‎return to more normalized levels as a result of declining raw material and energy costs, the impact of the cost reduction initiatives discussed above, the favorable impact on pricing and competition as a result of anti-dumping duties on Chinese producers, our ability to capture increased market share as a result of our 2024 acquisition of the 50% interest in LPC, and the effects of net capacity reductions in the industry that have occurred in recent years which have not yet been reflected in the supply chain. Throughout this downcycle, we have maintained significant liquidity through a combination of cash on hand and borrowing availability on our global revolving credit facility. As previously disclosed, in July 2025 we increased the maximum borrowings under the credit facility from $300 million to $350 million. In addition, we remain focused on low capital expenditures and optimization of working capital, including our current focus on managing inventory levels down to maximize cash flow generation, as discussed above.

*About Kronos*

We are one of the top five producers and marketers in the world of value-added titanium dioxide pigments, or TiO<sub>2</sub>, a base industrial product used in a wide range of applications. We offer our customers a broad portfolio of products that includes over 30 different TiO<sub>2</sub> pigment grades under the Kronos® trademark, which improve whiteness, brightness, opacity and durability to meet customers' specific requirements. We, along with our distributors and agents, sell and provide technical services for our products to approximately 3,000 customers in 100 countries with the majority of sales in Europe, North America and the Asia Pacific region.

*Forward-Looking Statements*

The statements in this Current Report on Form 8-K relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. These forward-looking statements include, among others, statements about the potential outcome of the Notes Offering and statements regarding management's outlook for 2025, including the realization of potential cost savings and global demand growth. Although the Company believes 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 substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those described in such forward-looking statements. The factors that could cause actual future results to differ materially include, but are not limited to, the following

● future supply and demand for the Company's products;

● the Company's ability to realize expected cost savings from strategic and operational initiatives;

● the Company's ability to integrate acquisitions, including LPC, into its operations and to realize expected synergies and innovations;

● the extent of the dependence of certain of the Company's businesses on certain market sectors;

● the cyclicality of the Company's business;

● customer and producer inventory levels;

● The introduction of new, or changes in existing, tariffs, trade barriers or trade disputes (including tariffs imposed by the U.S. federal government on imports from Canada and/or Europe, where the Company has manufacturing facilities);

● unexpected or earlier-than-expected industry capacity expansion;

● changes in raw material and other operating costs (such as energy and ore costs);

● changes in the availability of raw materials (such as ore);

● general global economic and political conditions that harm the worldwide economy, disrupt the Company's supply chain, increase material and energy costs or reduce demand or perceived demand for the Company's TiO <sub>2</sub> products or impair the Company's ability to operate its facilities (including changes in the level of gross domestic product in various regions of the world, tariffs, natural disasters, terrorist acts, global conflicts and public health crises);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● operating interruptions (including, but not limited to, labor disputes, leaks, natural disasters, fires, explosions, unscheduled or unplanned downtime, transportation interruptions, certain regional and world events or economic conditions and public health crises);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● technology related disruptions (including but not limited to cyber attacks; software implementation, upgrades or improvements; technology processing failures; or other events) related to the Company's technology infrastructure that could impact its ability to continue operations, or at key vendors which could impact its supply chain, or at key customers which could impact their operations and cause them to curtail or pause orders;

● competitive products and substitute products;

● customer and competitor strategies;

● potential consolidation of competitors;

● potential consolidation of customers;

● the impact of pricing and production decisions;

● competitive technology positions;

● potential difficulties in upgrading or implementing accounting and manufacturing software systems;

● fluctuations in currency exchange rates (such as changes in the exchange rate between the U.S. dollar and each of the euro, the Norwegian krone and the Canadian dollar and between the euro and the Norwegian krone), or possible disruptions to the Company's business resulting from uncertainties associated with the euro or other currencies;

● the Company's ability to renew or refinance credit facilities or other debt instruments in the future;

● changes in interest rates;

● the Company's ability to comply with covenants contained in its revolving credit facility;

● the Company's ability to maintain sufficient liquidity;

● the ultimate outcome of income tax audits, tax settlement initiatives or other tax matters, including future tax reform;

● the Company's ability to utilize income tax attributes, the benefits of which may or may not have been recognized under the more-likely-than-not recognition criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● environmental matters (such as those requiring compliance with emission and discharge standards for existing and new facilities);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● government laws and regulations and possible changes therein including new environmental, health and safety or other regulations (such as those seeking to limit or classify TiO <sub>2</sub> or its use); and

● pending or possible future litigation or other actions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● other factors as set forth in filings the Company makes with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, particularly under the caption "Risk Factors."

Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after the date of this Current Report on Form 8-K and cautions investors not to place undue reliance on any such forward-looking statements.

**Item 9.01** **Financial Statements and Exhibits**

**(d)** **Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1 [Press Release, dated September 3, 2025, issued by Kronos Worldwide, Inc. regarding announcement of private offering of senior secured notes](kro-20250903xex99d1.htm)

104Cover Page Interactive Data File (embedded within Inline XBRL document).

**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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| | | |
|:---|:---|:---|
|  | **KRONOS WORLDWIDE, INC.** | **KRONOS WORLDWIDE, INC.** |
|  | (Registrant) | (Registrant) |
| Date: September 3, 2025 | By: | /s/ Bradley E. Troutman |
|  |  | *Bradley E. Troutman,* |
|  |  | *Senior Vice President and Chief Financial Officer* |

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## Exhibit 99.1

&nbsp;&nbsp;![Graphic](kro-20250903xex99d1001.jpg)<br>

***KRONOS WORLDWIDE, INC. ANNOUNCES PRIVATE OFFERING <br>OF AN ADDITIONAL €75 MILLION OF 9.50% SENIOR SECURED NOTES DUE 2029***

DALLAS, TEXAS – September 3, 2025 – Kronos Worldwide, Inc. (NYSE: KRO) (the "Company") announced today that it is seeking to raise debt capital through a private offering of €75 million aggregate principal amount of additional 9.50% Senior Secured Notes due 2029 (the "Notes") by its wholly-owned subsidiary, Kronos International, Inc. ("KII"). The Notes are being offered as additional notes to the existing €351,174,000 aggregate principal amount of 9.50% Senior Secured Notes due 2029 that KII issued on February 12, 2024 and July 30, 2024 (the "Existing Notes"). Other than with respect to the date of issuance and issue price, the Notes will have the same terms as the Existing Notes. The Notes will be maintained under the same ISIN and Common Code numbers as the Existing Notes, except that the Notes issued pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), will trade separately under different ISIN and Common Code numbers until 40 days after the issue date of the Notes, but thereafter, the Notes issued pursuant to Regulation S will be maintained under the same ISIN and Common Code numbers as the Existing Notes issued pursuant to Regulation S.

The Notes will be fully and unconditionally guaranteed, jointly and severally, on a senior basis by the Company and each of its direct and indirect domestic, wholly-owned subsidiaries (other than the Issuer, the "Guarantors"), subject to certain exceptions and secured by first-priority security interests in certain assets of the Company and the Guarantors.

The completion of the offering depends on several factors, including market conditions. The Company intends to use the proceeds of the offering, after payment of fees and expenses, to pay amounts due under its 3.75% Senior Secured Notes due September 15, 2025 at maturity (or, alternatively, to repay any amounts the Company may draw under its global revolving credit facility with Wells Fargo to repay such notes at maturity). The Company intends to use any remaining net proceeds for its general corporate purposes.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Notes nor shall there be any sales of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful without registration or qualification under the securities laws of any such jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

The Notes and related guarantees subject to the private placement have not been and will not be registered under the Securities Act, or any state securities laws, and will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and in offshore transactions to non-U.S. persons (within the meaning of Regulation S) outside the U.S. that are not "retail investors" residing in a member state of the EEA or the UK. The Notes and related guarantees may not be offered or sold in the United States or to U.S. persons except pursuant to registration under or an exemption from the registration requirements of the Securities Act and applicable state securities laws.

**About the Company**

Kronos Worldwide, Inc., incorporated in Delaware in 1989, is a leading global producer and marketer of value-added titanium dioxide pigments, or TiO<sub>2</sub>, a base industrial product used in a wide range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products to approximately 3,000 customers in 100 countries with the majority of its sales in Europe, North America and the Asia Pacific region. The Company believes it has developed considerable expertise and efficiency in the manufacture, sale, shipment and service of its products in domestic and international markets.

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**Forward-Looking Statements**

The statements in this press 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. These forward-looking statements include, among others, statements about the potential outcome or effect of the notes offering or the use of proceeds therefrom. Although Kronos believes 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 substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those described in such forward-looking statements. The factors that could cause actual future results to differ materially include, but are not limited to, uncertainties relating to market conditions for corporate debt securities generally and for the securities of specialty chemical companies and for Kronos in particular. Such factors also include those identified in the Company's most recent annual and quarterly reports filed with the Securities and Exchange Commission.

\* \* \* \* \*

*This news release is for informational purposes only and is not an offer to sell, or the solicitation of an offer to buy, securities.* 

**Investor Relations Contact**

Bryan A. Hanley

Senior Vice President and Treasurer

Tel. 972-233-1700

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