NL Industries is a holding company with two core businesses: a controlling stake in CompX International, which manufactures engineered mechanical and electrical locking mechanisms for security and industrial applications, and a significant equity interest in Kronos Worldwide, a global producer of titanium dioxide pigments used in coatings, plastics, paper, and specialty applications. CompX generates revenue through security products such as cabinet locks and electronic access control devices, as well as marine components and industrial fabricated metal products, with customers spanning postal, recreational, healthcare, and industrial sectors. Kronos operates manufacturing facilities across North America and Europe, selling over 30 pigment grades to approximately 3,000 customers worldwide, with revenues derived primarily from coatings, plastics, and paper end markets. Both subsidiaries compete in capital-intensive, technology-driven industries where they maintain competitive advantages through proprietary products, patents, established customer relationships, and vertically integrated operations.