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 1, 2006
                               ------------------

                                   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)

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

             (Former name or 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 1.01           Entry into a Material Definitive Agreement.

     On November 1, 2006, the registrant, Valhi, Inc. ("Valhi"),  purchased (the
"Stock  Purchase") 1.0 million  shares of its common stock,  par value $0.01 per
share (the  "Common  Stock"),  at a discount to the current  market price of the
Common Stock, from Valhi Holding Company, a Delaware corporation and a parent of
Valhi  ("VHC"),  for $23.50 per share or an  aggregate  purchase  price of $23.5
million.  Valhi  purchased  the 1.0  million  shares of Common  Stock  under the
following repurchase programs:

     O    a 5.0 million  share  program  that the Valhi board of  directors  had
          approved  on March 31,  2005 that at the close of  business on October
          31, 2006 had 619,400  shares of Common  Stock  eligible  for  purchase
          under the program; and

     O    a 5.0 million share program that the Valhi board of directors approved
          on November 1, 2006 (the "New Repurchase Program").

     The  terms  of the  Stock  Purchase  are set  forth in the  Stock  Purchase
Agreement  dated  November  1, 2006  between  Valhi and VHC  attached  hereto as
Exhibit  10.1 and  incorporated  herein by  reference.  Valhi paid for the Stock
Purchase with its available cash on hand. Valhi's independent directors approved
the Stock Purchase.

     Under the New Repurchase Program, Valhi is authorized to purchase shares of
Common  Stock in open market  transactions,  including  block  purchases,  or in
privately   negotiated   transactions,   which  may  include  transactions  with
affiliates of Valhi.  The  Repurchase  Program does not include  specific  price
targets or timetables and may be suspended at any time.

Item 7.01           Regulation FD Disclosure.

     The  registrant  hereby  furnishes the  information  set forth in its press
release  issued on  November  1,  2006,  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
     ----------         ----------------------------------------
     10.1*              Stock Purchase Agreement, dated November 1, 2006 between
                        Valhi, Inc. and Valhi Holding Company.

     99.1*              Press Release dated November 1, 2006 issued by Valhi.

-----------
*  Filed herewith.



<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/ A. Andrew R. Louis
                                                       ------------------------
                                                       A. Andrew R. Louis
                                                       Secretary



Date:  November 2, 2006


<PAGE>


                                INDEX TO EXHIBITS


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

10.1*             Stock Purchase Agreement, dated November 1, 2006 between
                  Valhi, Inc. and VHC Corporation.

99.1*             Press Release dated November 1, 2006 issued by Valhi.

-----------
*  Filed herewith.
[{"type": "8-K", "sequence": "1", "filename": "vhi8k061101.txt", "description": "VALHI FORM 8-K", "secsgml_size_bytes": 6186}]
{"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": "061181261"}, "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 1, 2006
                               ------------------

                                   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)

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

             (Former name or 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 1.01           Entry into a Material Definitive Agreement.

     On November 1, 2006, the registrant, Valhi, Inc. ("Valhi"),  purchased (the
"Stock  Purchase") 1.0 million  shares of its common stock,  par value $0.01 per
share (the  "Common  Stock"),  at a discount to the current  market price of the
Common Stock, from Valhi Holding Company, a Delaware corporation and a parent of
Valhi  ("VHC"),  for $23.50 per share or an  aggregate  purchase  price of $23.5
million.  Valhi  purchased  the 1.0  million  shares of Common  Stock  under the
following repurchase programs:

     O    a 5.0 million  share  program  that the Valhi board of  directors  had
          approved  on March 31,  2005 that at the close of  business on October
          31, 2006 had 619,400  shares of Common  Stock  eligible  for  purchase
          under the program; and

     O    a 5.0 million share program that the Valhi board of directors approved
          on November 1, 2006 (the "New Repurchase Program").

     The  terms  of the  Stock  Purchase  are set  forth in the  Stock  Purchase
Agreement  dated  November  1, 2006  between  Valhi and VHC  attached  hereto as
Exhibit  10.1 and  incorporated  herein by  reference.  Valhi paid for the Stock
Purchase with its available cash on hand. Valhi's independent directors approved
the Stock Purchase.

     Under the New Repurchase Program, Valhi is authorized to purchase shares of
Common  Stock in open market  transactions,  including  block  purchases,  or in
privately   negotiated   transactions,   which  may  include  transactions  with
affiliates of Valhi.  The  Repurchase  Program does not include  specific  price
targets or timetables and may be suspended at any time.

Item 7.01           Regulation FD Disclosure.

     The  registrant  hereby  furnishes the  information  set forth in its press
release  issued on  November  1,  2006,  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
     ----------         ----------------------------------------
     10.1*              Stock Purchase Agreement, dated November 1, 2006 between
                        Valhi, Inc. and Valhi Holding Company.

     99.1*              Press Release dated November 1, 2006 issued by Valhi.

-----------
*  Filed herewith.
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/ A. Andrew R. Louis
                                                       ------------------------
                                                       A. Andrew R. Louis
                                                       Secretary

Date:  November 2, 2006
INDEX TO EXHIBITS

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

10.1*             Stock Purchase Agreement, dated November 1, 2006 between
                  Valhi, Inc. and VHC Corporation.

99.1*             Press Release dated November 1, 2006 issued by Valhi.

-----------
*  Filed herewith.