TiO2 production volumes up at Kronos in Q4 2010

08 Mar '11

4 min read

The Company's operating rates were at near full capacity throughout 2010, with full-year 2010 production volumes also setting a new record for Kronos. For the full year 2009, the Company's operating rates were at approximately 76% of capacity, with operating rates at 58% of capacity for the first half of 2009, increasing to 94% of capacity in the second half of 2009. Temporary plant curtailments implemented in the first half of 2009 resulted in approximately $80 million of unabsorbed fixed production costs which were charged directly to cost of sales.

The Company's income tax benefit in 2010 includes a first quarter $35.2 million ($.72 per diluted share) non-cash deferred income tax benefit related to a European Court ruling that resulted in the favorable resolution of certain income tax issues in Germany and an increase in the amount of our German corporate and trade tax net operating loss carryforwards. The Company's income tax benefit in 2009 includes a fourth quarter $4.7 million ($.10 per diluted share) non-cash deferred income tax benefit related to a net decrease in our reserve for uncertain tax positions.

Kronos Worldwide Inc

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