NL Industries

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NL Industries (NYSENL), formerly known as the National Lead Company, is a lead smelting company currently based in Houston, Texas. National Lead was one of the 12 original stocks included in the Dow Jones Industrial Average at the time of its creation on May 26, 1896.[1]

NL Industries (Dutch Boy Paint) Specimen Stock Certificate, c.1975

History[edit]

It began business in Philadelphia in 1772.[2] The name "National Lead Company" was used since 1891 after a series of mergers. National Lead changed its name to NL Industries in 1971.

California lead paint liability case[edit]

NL Industries has encountered legal problems based on their long history of selling lead paint. Exposure to lead paint can cause numerous health and developmental problems in children and adults, and its use has been banned or restricted in many countries.

In January 2014, the Santa Clara County Superior Court ruled that NL Industries, along with Sherwin-Williams and ConAgra were jointly and severally liable for $1.15 billion, to be paid into a lead paint abatement fund to be used to remove lead paint from older housing.[3][4] The judge ruled that the paint companies manufactured, marketed, and sold lead paint without disclosing the health risks to the consumers in spite of "actual and constructive knowledge that it was harmful."[5][6]

National Lead and Dutch Boy Paints[edit]

in 1907, National Lead entered the consumer market for titanium paints, creating a product line under the name "Dutch Boy". Dutch Boy paints competed with other brands that contained mineral products supplied by National Lead. The "Dutch Boy Painter", which was created by Lawrence Carmichael Earle, became National Lead's symbol for many years.

NL Industries sold off the Dutch Boy brand in 1980 to Sherwin-Williams, two years after the CPSC's directive banning on the manufacturing of lead housepaint went into effect.

CompX International[edit]

CompX International Inc.
Public limited company
Traded as NYSE MKTCIX[7]
Industry Security & Protection Services
Founded August 4, 1993
Headquarters Dallas, Texas
Area served
the United States
Key people
David Bowers
(CEO)
Services Security Products, Furniture Components and Marine Components
Increase US$ 083.2 million (2012)[8]
Increase US$ 035.0 million (2012)[8]
Total assets Increase US$ 0150.2 million (2012)[8]
Total equity Increase US$ 0102.1 million (2012)[8]
Number of employees
466 (2013)[9]
Website www.compx.com

CompX International Inc. is one of the largest manufacturers of security products and recreational marine components in the world.[10] Located in Dallas, Texas, CompX International Inc. is also a subsidiary of NL Industries, Inc.[9] The business of the company is divided into three segments: Security Products, Furniture Components and Marine Components. Their products are designed to meet the high-end applications.[11] CompX International Inc. offers its products through original equipment manufacturers and distributors.[12]

History[edit]

Based in Dallas, Texas, the company was founded to open business on August 4, 1993.[13][14] In March 1998, CompX International Inc. completed its Initial Public Offering, making it a public company with stocks traded on the New York Stock Exchange under the symbol of ‘’’CIX’’’.[11]

In 1999, CompX International moved the corporate headquarters from Mauldin, S.C. to Houston.[15][16]

On Jan 11, 2000, CompX International Inc. acquired Chicago Lock Co. successfully for about $9.2 million in cash, which was borrowed under its existing credit facility.[17] In May 2002, CompX International achieved an agreement to close its Dallas corporate office.[18]

In September 2004, NL Industries completed the acquisition of 68% of CompX International for $168.6 million.[19]

In December 2012, CompX International Inc. sold its Furniture Components operations to Knape & Vogt Manufacturing Company for approximately $59 million in cash.[20]

Leadership[edit]

The main officers of the company are listed as follows[21]

  • David Bowers - President, Chief Executive Officer
  • Jim Brown - Chief Financial Officer

References[edit]

  1. ^ "History of the Dow", The Motley Fool, May 29, 1996. Accessed October 24, 2011.
  2. ^ "National Lead Company". Harvard University. Retrieved 2011-10-24. The National Lead Company, now known as NL Industries, began business in Philadelphia in 1772. Several lead manufacturers banded together and incorporated as the National Lead Company in 1891. The company has been well known for its white-lead paints, sold since 1907 under the Dutch Boy label. Over the twentieth century, the company has produced many other products, including titanium dioxide paint, atomic bomb elements, and ball-bearing slides. ... 
  3. ^ Rosenblatt, Joel (2013-12-17). "Sherwin, NL, ConAgra Lose $1.1 Billion Lead Paint Ruling". Bloomberg News. Retrieved 2014-11-25. 
  4. ^ Rosenblatt, Joel (2014-01-08). "Manufacturers Must Pay $1.15 Billion in Lead Paint Suit". Bloomberg Businessweek. Retrieved 2014-11-25. 
  5. ^ Elias, Paul (2013-12-17). "Lead Paint Lawsuit: Judge Orders 3 Companies To Pay $1.1 Billion For Removal Services". Huffington Post. Retrieved 2014-11-25. 
  6. ^ Kleinberg, James (7 January 2014). "Judge Kleinberg's Order, final statement of decision, Case Number 1-00-CV-788657" (PDF). Santa Clara County Superior Court's Electronic Filing System. Retrieved 26 August 2014. The defendants sold lead paint with actual and constructive knowledge that it was harmful 
  7. ^ traded marks 
  8. ^ a b c d 2012 Annual Report 
  9. ^ a b number of employees 
  10. ^ "General business in annual report" (PDF). 
  11. ^ a b Products aimed markedt Porduct market
  12. ^ Company descriptions] 
  13. ^ Foundation in Yahoo
  14. ^ foundation time
  15. ^ "CompX moves to Houston" Houston Business Journal
  16. ^ CompX moved to Houston
  17. ^ [1]
  18. ^ CompX International close Dallas corporate office
  19. ^ "NL Industries closes buy of 68% of CompX for $168.6M". September 24, 2004. Retrieved Dec 6, 2013. 
  20. ^ "COMPX Announces the Completion of the Sale of its Furniture Components Operation". 
  21. ^ Managers

External links[edit]