Provides peeling and drying capability to serve key geographic markets
PITTSBURGH, November 16, 2022 /PRNewswire/ — Koppers Utility and Industrial Merchandise Inc. (UIP), a completely owned subsidiary of Koppers Holdings Inc. (NYSE: COP), an built-in world provider of handled wooden merchandise, wooden treating chemical compounds and carbon compounds, immediately introduced the acquisition of a 105-acre property from Leesville, Louisiana. The positioning will host a facility offering extra peeling and drying capability used within the Koppers wooden therapy course of.
The addition of this new facility creates a possibility for Koppers to cut back prices by plant automation, an improved logistics community and elevated drying capability. The Leesville The positioning ought to be operational in mid-2023.
The property was bought from a shopper of The Molpus Woodlands Group, LLC.
Commenting on the transaction, the President and CEO Ball Leroy mentioned, “This acquisition has all the time been a precedence to assist leverage our current processing property in Somerville, Texas. As well as, this new website will enable us to be nearer to the supply of uncooked supplies and considerably scale back our prices. For a comparatively modest funding, we will broaden our presence in utility markets, together with these the place provide choices have been restricted previously.
Koppers, whose head workplace is in Pittsburgh, Pennsylvania, is an built-in world provider of handled wooden merchandise, wooden therapy chemical compounds and carbon compounds. Our services are utilized in quite a lot of area of interest functions in a various vary of finish markets, together with the railroad, specialty chemical, utility, residential lumber, agricultural, aluminum, metal, rubber and development. We serve our clients by a complete world manufacturing and distribution community, with services situated in North America, South America, Australasia and Europe. The shares of Koppers Holdings Inc. are listed on the New York Inventory Trade underneath the image “KOP”.
For extra data, go to: www.koppers.com. Media inquiries ought to be directed to Ms. Jessica Franklin Black at [email protected] or 412-227-2025. Inquiries from the funding group ought to be directed to Ms. Quynh McGuire at [email protected] or 412-227-2049.
Secure Harbor Assertion
Sure statements on this press launch are “forward-looking statements” throughout the which means of the Personal Securities Litigation Reform Act of 1995 and will embody, however should not restricted to, statements about gross sales ranges, acquisitions, restructuring , the decline within the worth of Koppers property and the impact of any ensuing impairment fees, profitability and anticipated bills and money outflows.
All forward-looking statements contain dangers and uncertainties. All statements contained herein that aren’t clearly historic in nature are forward-looking, and phrases equivalent to “outlook”, “path”, “forecast”, “imagine”, “anticipate”, “count on”, “estimate”, “might”, “shall”, “ought to”, “proceed”, “plan”, “potential”, “intend”, “possible”, or different related phrases or expressions are typically supposed to determine forward-looking statements. Any forward-looking statements contained herein, in different press releases, written statements or different paperwork filed with the Securities and Trade Fee, or in Koppers’ communications and discussions with buyers and analysts within the regular course of enterprise by conferences, phone calls and convention calls, concerning future dividends, expectations concerning gross sales, earnings, money movement, working effectivity, restructurings, advantages of acquisitions, divestitures, joint ventures or different issues, in addition to financings and debt discount, are topic to recognized and unknown dangers, uncertainties and contingencies.
Many of those dangers, uncertainties and contingencies are past our management and will trigger precise outcomes, efficiency or achievements to vary materially from anticipated outcomes, efficiency or achievements. Components that would have an effect on these forward-looking statements embody, amongst others, the impression of adjustments in commodity costs, equivalent to oil and copper, on product margins; common financial and industrial situations; disruption in US and world monetary markets; potential difficulties in defending our mental property; our debt rankings and our capability to repay or refinance our excellent debt because it matures; our capability to function throughout the limits of our covenants; potential impairment of our goodwill and/or long-lived property; demand for Koppers items and providers; aggressive situations; rate of interest and foreign money trade fee fluctuations; the supply and prices of key uncooked supplies; adversarial decision of claims in opposition to us, in addition to these mentioned in better element elsewhere on this launch and in paperwork filed with the Securities and Trade Fee by Koppers, particularly our most up-to-date Annual Report on Kind 10-Ok and any subsequent filings by Koppers with the Securities and Trade Fee and overseas trade fee. All forward-looking statements contained on this press launch converse solely as of the date of this publication.and we undertake no obligation to replace any forward-looking assertion to replicate occasions or circumstances after such date or to replicate the incidence of unexpected occasions.
Quynh McGuire, Vice President, Investor Relations
412 227 2049
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