NL Industries
| Company type | Public |
|---|---|
| Industry | Lead smelting |
| Predecessor | National Lead Company |
| Founded | 1772 in Philadelphia, Pennsylvania, United States |
| Headquarters | Houston , United States |
Key people | David Bowers (President and CEO), Jim Brown (CFO) |
| Products | Lead smelting, formerly lead-based paints (Dutch Boy) |
NL Industries (), previously known as the National Lead Company, is a lead smelting firm based in Houston, Texas. At the time of the Dow Jones Industrial Average’s establishment in 1896, National Lead was among the original dozen companies listed.
History
Established in Philadelphia in 1772, the company adopted the name "National Lead Company" in 1891 after a series of mergers, later rebranding itself as NL Industries in 1971.
California lead paint liability case
NL Industries encountered major legal issues due to its past distribution of lead paint, a product associated with severe health hazards and subject to bans or restrictions worldwide. In January 2014, the Santa Clara County Superior Court found NL Industries, along with Sherwin-Williams and ConAgra, jointly responsible for $1.15 billion to finance lead paint removal efforts in older residential buildings. The court highlighted that these companies failed to warn about the known dangers of lead paint despite being aware of them.
In November 2017, the California 6th Appellate District Court overturned this decision, instructing that the fund be recalculated to cover only homes built before 1951 and ordered additional hearings regarding the appointment of a receiver. The California Supreme Court declined to review the case in February 2018, sending it back to trial court for further proceedings.
In May 2018, NL Industries resolved its share of the lawsuit by agreeing to pay $60 million and withdrawing support for a related ballot initiative promoted by ConAgra and Sherwin-Williams.
National Lead and Dutch Boy Paints
National Lead expanded into the consumer titanium-based paint market in 1907 with its Dutch Boy brand, competing alongside other mineral pigment paints produced by the company. The "Dutch Boy Painter," designed by Lawrence Carmichael Earle, became a longstanding emblem for the brand.
Following the Consumer Product Safety Commission’s 1978 prohibition on lead-based house paints, NL Industries sold the Dutch Boy brand to Sherwin-Williams in 1980.
CompX International
CompX International Inc. operates as a prominent manufacturer specializing in security products and recreational marine components, with headquarters located in Dallas, Texas. As a subsidiary of NL Industries, CompX is organized into three divisions: Security Products, Furniture Components, and Marine Components, focusing on premium market segments. Its products reach customers primarily through original equipment manufacturers and distributor networks.
By 2012, CompX reported an operating income of US$83.2 million, net income of US$35.0 million, total assets valued at US$150.2 million, and shareholder equity amounting to US$102.1 million. Employing 466 individuals as of 2013, CompX is publicly listed on the NYSE MKT under the ticker symbol CIX and is included in the Russell 2000 Index. The company’s strategic approach emphasizes sustaining competitive strength through diversified offerings within both security and marine markets.
History
CompX, headquartered in Dallas, Texas, was established on August 4, 1993. The company went public in March 1998 through an initial public offering, subsequently listing its shares on the New York Stock Exchange under the ticker CIX.
In 1999, CompX shifted its main corporate office from Mauldin, South Carolina, to Houston. On January 11, 2000, it acquired Chicago Lock Co. for roughly $9.2 million in cash, utilizing funds drawn from its available credit line. By May 2002, CompX had shut down its Dallas corporate facility.
A major change in ownership occurred in September 2004 when NL Industries purchased a controlling 68% interest in CompX for $168.6 million. Later, in December 2012, CompX divested its Furniture Components division, selling it to Knape & Vogt Manufacturing Company for approximately $59 million in cash, thereby narrowing its operational focus.
These strategic decisions illustrate CompX’s adaptive business strategy aimed at enhancing its market standing through targeted acquisitions and divestments.
The company’s executive leadership consists of:
- David Bowers – President and Chief Executive Officer
- Jim Brown – Chief Financial Officer