Kronos Income Slides

Kronos Worldwide (Dallas) reported fourth-quarter 2007 net income of $1.6 million, compared with income of $41.3 million in the same year-ago period. Sales rose 4%, to $310.4 million. The company’s titanium dioxide (TiO2) business reported profits down 71%, to $11.3 million. Kronos cites lower average selling prices, higher maintenance costs, and the negative effects of fluctuations in currency exchange rates. TiO2 sales volumes increased 2% on higher volumes in the U.S. and export markets. However, TiO2 production volumes dropped...

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