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 earliest event reported): January 3, 2000

                       HITOX CORPORATION OF AMERICA
          (Exact name of registrant as specified in its charter)

                                 Delaware
               (State or other jurisdiction of corporation)

                                  0-17321
                         (Commission File Number)

                                74-2081929
                   (I.R.S. Employer Identification No.)

                               722 Burleson
                           Corpus Christi, Texas
                 (Address of principal executive offices)

                                   78402
                                (Zip Code)

    Registrant's telephone number, including area code: (361) 882-5175

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

Item 5.  Other Events

      On January 3, 2000, Hitox Corporation of America (the Company) signed
a  Memorandum of Understanding (Letter of Intent) with Megamin Ventures Sdn
Bhd  to  acquire a controlling interest (up to 100% of the shares)  in  the
Malaysian  Titanium  Corporation  (MTC).   Subject  to  completion   of   a
satisfactory  due  diligence  review,  negotiation  and  execution   of   a
definitive  acquisition agreement among the parties, receipt of  regulatory
approvals  and  receipt  of an appropriate fairness  opinion,  the  parties
anticipate the acquisition to be finalized in the first quarter of 2000.

      MTC  is  the  Company's sole supplier of Synthetic  Rutile,  the  raw
material  for  the Company's proprietary titanium pigment HITOX (Registered
trademark).   MTC  is also  producing and selling HITOX pigment in Asia under
a license from  the Company.

      MTC was previously a subsidiary of Hitox Corporation and was sold  to
Megamin  Ventures  Sdn  Bhd and other investors in 1994.   The  acquisition
provides  the  opportunity  to  control the raw  material  supply  for  the
Company's  primary product, HITOX pigment, and represents both a  low  cost
production  site for HITOX pigment and marketing opportunities outside  the
U.S. market.




SIGNATURES

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.

                                            Hitox Corporation of America
                                                   (Registrant)

Date: January 10, 2000                             CRAIG SCHKADE
                                                   -------------
                                                   Craig Schkade
                                              Chief Financial Officer
                                                   and Treasurer