UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                Pursuant to Section 13 OR 15(d) of the Securities
                              Exchange Act of 1934

              Date of Report (Date of the earliest event reported)
                                November 8, 2004
                                ----------------

                                   Valhi, Inc.
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

     Delaware                          1-5467                   87-0110150
-------------------              ------------------         -----------------
  (State or other                    (Commission              (IRS Employer
  jurisdiction of                    File Number)             Identification
   incorporation)                                                   No.)

5430 LBJ Freeway, Suite 1700, Dallas, Texas              75240-2697
---------------------------------------------           ------------
 (Address of principal executive offices)                (Zip Code)

               Registrant's telephone number, including area code
                                 (972) 233-1700
                                 --------------


         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2):

[   ]     Written  communications  pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

[   ]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)

[   ]     Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the
          Exchange Act (17 CFR 240.14d-2(b))

[   ]     Pre-commencement  communications  pursuant to Rule 13e-4(c)  under the
          Exchange Act (17 CFR 240.13e-4(c))


<PAGE>


Item 2.01 Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.

     Pursuant  to Items 2.01 and 7.01 of this  current  report,  the  registrant
hereby  furnishes  the  information  set  forth in its press  release  issued on
November  8,  2004,  a copy of which is  attached  hereto  as  Exhibit  99.1 and
incorporated herein by reference.

     The information,  including the exhibit,  the registrant  furnishes in this
report is not deemed  "filed"  for  purposes  of  section  18 of the  Securities
Exchange Act of 1934, as amended,  or otherwise  subject to the  liabilities  of
that  section.  Registration  statements  or  other  documents  filed  with  the
Securities and Exchange  Commission  shall not incorporate  this  information by
reference, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

         (c) Exhibits.

     Item No.  Exhibit Index
   ----------  ----------------------------------------
      99.1     Press Release dated November 8, 2004 issued by the registrant.



<PAGE>


                                    SIGNATURE


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                     VALHI, INC.
                                    (Registrant)




                                 By:    /s/ Gregory M. Swalwell
                                        ----------------------------
                                        Gregory M. Swalwell
                                        Vice President




Date:  November 8, 2004




<PAGE>


                                INDEX TO EXHIBITS


Exhibit No.     Description
-----------     --------------------------------------------------

99.1            Press Release dated November 8, 2004 issued by the registrant.
[{"type": "8-K", "sequence": "1", "filename": "vi8k0904.txt", "secsgml_size_bytes": 4160}]
{"company-data": {"conformed-name": "VALHI INC /DE/", "cik": "0000059255", "assigned-sic": "2810", "irs-number": "870110150", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-48391", "film-number": "041126281"}, "business-address": {"street1": "5430 LBJ FRWY", "street2": "STE 1700", "city": "DALLAS", "state": "TX", "zip": "75240", "phone": "9722331700"}, "mail-address": {"street1": "THREE LINCOLN CENTER", "street2": "5430 LBJ FREEWAY SUITE 1700", "city": "DALLAS", "state": "TX", "zip": "75240"}, "former-company": [{"former-conformed-name": "LLC CORP", "date-changed": "19870329"}, {"former-conformed-name": "LIBERTY LOAN CORP", "date-changed": "19800414"}]}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                Pursuant to Section 13 OR 15(d) of the Securities
                              Exchange Act of 1934

              Date of Report (Date of the earliest event reported)
                                November 8, 2004
                                ----------------

                                   Valhi, Inc.
             ------------------------------------------------------
             (Exact name of Registrant as specified in its charter)

     Delaware                          1-5467                   87-0110150
-------------------              ------------------         -----------------
  (State or other                    (Commission              (IRS Employer
  jurisdiction of                    File Number)             Identification
   incorporation)                                                   No.)

5430 LBJ Freeway, Suite 1700, Dallas, Texas              75240-2697
---------------------------------------------           ------------
 (Address of principal executive offices)                (Zip Code)

               Registrant's telephone number, including area code
                                 (972) 233-1700
                                 --------------

         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2):

[   ]     Written  communications  pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)

[   ]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
          CFR 240.14a-12)

[   ]     Pre-commencement  communications  pursuant to Rule 14d-2(b)  under the
          Exchange Act (17 CFR 240.14d-2(b))

[   ]     Pre-commencement  communications  pursuant to Rule 13e-4(c)  under the
          Exchange Act (17 CFR 240.13e-4(c))
Item 2.01 Results of Operations and Financial Condition.
Item 7.01 Regulation FD Disclosure.

     Pursuant  to Items 2.01 and 7.01 of this  current  report,  the  registrant
hereby  furnishes  the  information  set  forth in its press  release  issued on
November  8,  2004,  a copy of which is  attached  hereto  as  Exhibit  99.1 and
incorporated herein by reference.

     The information,  including the exhibit,  the registrant  furnishes in this
report is not deemed  "filed"  for  purposes  of  section  18 of the  Securities
Exchange Act of 1934, as amended,  or otherwise  subject to the  liabilities  of
that  section.  Registration  statements  or  other  documents  filed  with  the
Securities and Exchange  Commission  shall not incorporate  this  information by
reference, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

         (c) Exhibits.

     Item No.  Exhibit Index
   ----------  ----------------------------------------
      99.1     Press Release dated November 8, 2004 issued by the registrant.
SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                     VALHI, INC.
                                    (Registrant)

                                 By:    /s/ Gregory M. Swalwell
                                        ----------------------------
                                        Gregory M. Swalwell
                                        Vice President

Date:  November 8, 2004
INDEX TO EXHIBITS

Exhibit No.     Description
-----------     --------------------------------------------------

99.1            Press Release dated November 8, 2004 issued by the registrant.