HOUSTON, Oct 18, 2002 /PRNewswire-FirstCall via COMTEX/ -- NL Industries, Inc. (NYSE: NL) today announced that its indirect wholly owned subsidiary, Kronos International, Inc., ("KII") commenced its offer to the holders of its euro 285 million aggregate principal amount of 8.875% Senior Secured Notes (the "Notes") due 2009 to exchange such Notes for a like principal amount of notes that have been registered under the Securities Act of 1933, as amended.
The exchange offer is scheduled to expire on November 18, 2002, at 5:00 p.m., New York City time, unless further extended by KII. The Bank of New York in London has been appointed as exchange agent for the exchange offer. Requests for assistance or documents should be directed to The Bank of New York at 44 (0) 207 964 6582.
KII conducts NL's titanium dioxide pigments operations in Europe. NL Industries, Inc. is a major international producer of titanium dioxide pigments.
The statements in this 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. Forward-looking statements can be identified by the use of words such as "believes," "intends," "may," "will," "should," "could," "anticipates," "expects," or comparable terminology or by discussions of strategy or trends. Although NL and KII believe that 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 risks and uncertainties, including, but not limited to, the cyclicality of the titanium dioxide industry, global economic and political conditions, changes in global productive capacity, changes in customer inventory levels, changes in product pricing, changes in product costing, changes in foreign currency exchange rates, competitive technology positions, operating interruptions (including, but not limited to, labor disputes, leaks, fires, explosions, unscheduled downtime, transportation interruptions, war and terrorist activities), the ultimate resolution of pending or possible future lead pigment litigation and legislative developments related to the lead paint litigation, the outcome of other litigation, and other risks and uncertainties detailed in NL's and KII's Securities and Exchange Commission filings. Should one or more of these risks materialize (or the consequences of such a development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those forecasted or expected. NL and KII disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
SOURCE NL Industries, Inc.
CONTACT:
Robert D. Hardy, Chief Financial Officer of NL Industries,
Inc., 1-281-423-3332
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