Koppers Completes Purchase of Property in Louisiana
Koppers Holdings Inc. (NYSE: KOP) announced the acquisition of a 105-acre property in Leesville, Louisiana, for additional peeling and drying capacity in its wood treatment process. The facility aims to enhance operational efficiency by reducing costs through automation and improved logistics, with operations expected to begin in mid-2023. This move will strengthen Koppers' position in utility markets and decrease reliance on distant raw material sources. The acquisition is part of Koppers' strategy to integrate its assets in Texas and expand in key geographic markets.
- Acquisition of a significant property to enhance peeling and drying capacity.
- Expected cost reductions through plant automation and logistics improvements.
- Strengthening of market position in utility and limited supply markets.
- None.
Adds Peeling and Drying Capacity to Serve Key Geographic Markets
PITTSBURGH, Nov. 16, 2022 /PRNewswire/ -- Koppers Utility and Industrial Products Inc. (UIP), a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds, today announced the purchase of a 105-acre property in Leesville, Louisiana. The site will host a facility providing additional peeling and drying capacity used in the Koppers wood treatment process.
The addition of this new facility creates an opportunity for Koppers to reduce costs through plant automation, an improved logistics network, and increased drying capacity. The Leesville site is expected to become operational in mid-2023.
The property was purchased from a client of The Molpus Woodlands Group, LLC.
Commenting on the transaction, President and Chief Executive Officer Leroy Ball said, "This acquisition has always been a priority in order to help leverage our existing treating assets in Somerville, Texas. Also, this new site will allow us to be closer to the raw material source and significantly lower our costs. For a relatively modest investment, we will be able to expand our presence in utility markets, including those with limited supply options available in the past.
About Koppers
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds. Our products and services are used in a variety of niche applications in a diverse range of end markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber, and construction industries. We serve our customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, 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: www.koppers.com. Inquiries from the media should be directed to Ms. Jessica Franklin Black at BlackJF@koppers.com or 412-227-2025. Inquiries from the investment community should be directed to Ms. Quynh McGuire at McGuireQT@koppers.com or 412-227-2049.
Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Koppers assets and the effect of any resulting impairment charges, profitability and anticipated expenses and cash outflows.
All forward-looking statements involve risks and uncertainties. All statements contained herein that are not clearly historical in nature are forward-looking, and words such as "outlook," "guidance," "forecast," "believe," "anticipate," "expect," "estimate," "may," "will," "should," "continue," "plan," "potential," "intend," "likely," or other similar words or phrases are generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in other press releases, written statements or other documents filed with the Securities and Exchange Commission, or in Koppers communications and discussions with investors and analysts in the normal course of business through meetings, phone calls and conference calls, regarding future dividends, expectations with respect to sales, earnings, cash flows, operating efficiencies, restructurings, the benefits of acquisitions, divestitures, joint ventures or other matters as well as financings and debt reduction, are subject to known and unknown risks, uncertainties and contingencies.
Many of these risks, uncertainties and contingencies are beyond our control, and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward-looking statements include, among other things, the impact of changes in commodity prices, such as oil and copper, on product margins; general economic and business conditions; disruption in the U.S. and global financial markets; potential difficulties in protecting our intellectual property; the ratings on our debt and our ability to repay or refinance our outstanding indebtedness as it matures; our ability to operate within the limitations of our debt covenants; potential impairment of our goodwill and/or long-lived assets; demand for Koppers goods and services; competitive conditions; interest rate and foreign currency rate fluctuations; availability and costs of key raw materials; unfavorable resolution of claims against us, as well as those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly our latest annual report on Form 10-K and any subsequent filings by Koppers with the Securities and Exchange Commission. Any forward-looking statements in this release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.
For Information: | Quynh McGuire, Vice President, Investor Relations | |
412 227 2049 | ||
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SOURCE Koppers
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