National Lead Company
| Company type | Public |
|---|---|
| Industry | Lead smelting, manufacturing |
| Predecessor | National Lead Company |
| Founded | 1891 |
| Headquarters | Houston , United States |
Area served | United States |
| Products | Lead, paint (historically), security hardware (via subsidiary CompX International) |
NL Industries (), previously known as the National Lead Company, is a lead smelting enterprise based in Houston, Texas. At the establishment of the Dow Jones Industrial Average on May 26, 1896, National Lead was one of the original twelve companies included.
History
Originating in Philadelphia in 1772, the firm adopted the name "National Lead Company" in 1891 after undergoing multiple mergers. In 1971, it rebranded itself as NL Industries.
California lead paint liability case
NL Industries encountered major legal disputes concerning its past distribution of lead paint, a product now recognized for its severe health hazards and prohibited or restricted in numerous regions.
In January 2014, the Santa Clara County Superior Court ruled that NL Industries, along with Sherwin-Williams and ConAgra, bore joint responsibility for $1.15 billion. This amount was allocated to a fund dedicated to lead paint removal from older residences. The court determined that these companies had marketed and sold lead paint despite awareness of its harmful effects, which adversely affected their financial standing and corporate reputation.
The California 6th Appellate District Court partially overturned this ruling in November 2017 by restricting the fund's use to abatement efforts in homes built before 1951 and ordered a hearing regarding the appointment of a receiver. The California Supreme Court declined to review the case further in February 2018, thereby upholding the appellate court’s decision.
In May 2018, NL Industries resolved its liability by paying $60 million and agreed to withdraw support for a ballot initiative promoted by ConAgra and Sherwin-Williams for the November 2018 election. This agreement illustrates NL’s calculated approach toward managing legal exposure while concentrating on its principal business activities.
National Lead and Dutch Boy Paints
In 1907, National Lead expanded into the consumer titanium paint sector with its Dutch Boy brand. The "Dutch Boy Painter," designed by Lawrence Carmichael Earle, became an enduring emblem for the company. Following the 1978 prohibition of lead-based house paint by the CPSC, National Lead sold the Dutch Boy brand to Sherwin-Williams in 1980.
CompX International
CompX International Inc. is a prominent producer of security hardware and marine recreational components headquartered in Dallas, Texas. As a subsidiary of NL Industries, Inc., CompX operates across three divisions: Security Products, Furniture Components, and Marine Components, focusing on premium applications. Its products are distributed through original equipment manufacturers and distributors.
By 2012, CompX reported an operating income of US$83.2 million, net income of US$35.0 million, total assets of US$150.2 million, and shareholders’ equity amounting to US$102.1 million. In 2013, it employed 466 individuals. The company is publicly traded on the NYSE MKT under the ticker symbol CIX and is included in the Russell 2000 Index. Leadership includes CEO David Bowers.
History
Founded on August 4, 1993, CompX is based in Dallas, Texas. It went public with an initial public offering in March 1998 and was listed on the New York Stock Exchange under the ticker CIX.
In 1999, CompX moved its headquarters from Mauldin, South Carolina to Houston, Texas. On January 11, 2000, it acquired Chicago Lock Co. for about $9.2 million in cash, funded through its credit facility. By May 2002, CompX consolidated operations by closing its Dallas corporate office.
NL Industries purchased a controlling interest of 68% in CompX for $168.6 million in September 2004, representing a major change in ownership structure. Subsequently, in December 2012, CompX divested its Furniture Components segment to Knape & Vogt Manufacturing Company for roughly $59 million in cash, refining its product focus.
These strategic decisions demonstrate CompX’s ongoing adaptation toward emphasizing core offerings to strengthen market position and improve financial outcomes.
Key executives include:
- David Bowers – President and Chief Executive Officer
- Jim Brown – Chief Financial Officer
External links
- United States conglomerate corporations
- United States holding companies
- Lead industry firms
- Mining enterprises in the United States
- Producers of paint
- Titanium extraction companies
- Houston-based manufacturing firms
- Philadelphia-headquartered companies
- American enterprises founded in 1891
- Conglomerates established in 1971
- Holding corporations founded in 1891
- Manufacturing businesses started in 1891
- 1891 establishments in Pennsylvania
- 1971 establishments in Texas
- Companies traded on NYSE American
- Former Dow Jones Industrial Average constituents
- Companies of the United States by year of establishment
- American companies established in 1891