Koppers has come to an agreement to sell its U.S. utility pole business to Cox Industries, Inc. for an undisclosed sales price. Revenues for this business for year 2014 were approximately $43 million.
The transaction does not include the sale of Koppers wood treating facility located in Florence, South Carolina (Florence) which was the primary production facility for this business. The Florence facility, which also treats railroad crossties and other railroad products, will remain with Koppers and will continue to provide products and services for the company’s railroad customers.
(Orangeburg, S.C.) Koppers has completed the acquisition of the Wood Preservation and Railroad Services businesses (collectively, the “Acquired Businesses”) of Osmose Holdings, Inc. (Osmose).
“Acquiring the two Osmose businesses is an important step in our long-term growth strategy for Koppers. The businesses fit well within our core competencies, expand both our chemicals offering and our existing railroad and utilities products and services platform, and provide additional growth opportunities as we gain leading market positions in strategic end-markets around the world,” said Walt Turner, President and CEO of Koppers.
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global producer of carbon compounds, chemicals, and treated wood products and services for the aluminum, railroad, specialty chemical, utility, rubber, concrete, steel, residential lumber, and agriculture industries. Including our joint ventures, we serve our customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol “KOP.”
For more information, visit us on the Web: www.koppers.com.
Questions concerning investor relations should be directed to Michael J. Zugay at 412 227 2231 or Michael W. Snyder at 412 227 2131.