Valhi, Inc. is a holding company operating three core business segments: Kronos Worldwide, a leading global manufacturer of titanium dioxide pigments used in paints, plastics, paper, coatings and other products, serving approximately 3,000 customers across 100 countries with roughly 7% global market share; CompX International, a manufacturer of engineered security and locking components for postal, transportation and furniture applications, and marine system components for recreational and industrial use; and a real estate development segment focused on developing residential property in Nevada. Kronos generates the majority of revenues by selling TiO2 into cyclical end-use markets sensitive to economic conditions and raw material costs, while CompX sells components through OEM customers and distributors, and the real estate segment generates revenues through land sales to residential builders. The company manages its portfolio to optimize liquidity and returns through operational efficiencies, cost management and selective capital redeployment.