Kronos Worldwide produces and sells titanium dioxide (TiO2) pigments — the dominant white pigment in industrial use, valued for its opacity, UV resistance, and chemical stability. Kronos sells over 30 grades of TiO2 under the KRONOS brand to roughly 3,000 customers across 100 countries. Core TiO2 pigments account for about 90% of net sales. The largest end markets are coatings (~59% of volume), plastics (~30%), and paper (~8%). Europe accounts for ~45% of sales volume and North America ~40%. Kronos sells primarily through a direct sales force in Europe and North America, with agents and distributors elsewhere. Kronos makes money by selling TiO2 at a price above the cost to manufacture it. Key profit drivers are volume, pricing, input costs, and plant utilization. TiO2 prices are negotiated directly with customers rather than set by an exchange. Key raw material inputs include titanium-bearing feedstock, chlorine, sulfuric acid, and energy. Kronos operates both chloride-process (83% of capacity) and sulfate-process (17%) plants. The chloride process is more efficient and serves the largest end markets; the sulfate process serves specialty applications. Beyond TiO2, Kronos runs three smaller businesses — ilmenite mining in Norway (which supplies feedstock for its own sulfate plants), iron-based co-products sold for industrial use, and specialty chemicals — together accounting for ~10% of net sales.