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Koppers Holdings, Inc. (NYSE: KOP), headquartered in Pittsburgh, Pennsylvania, is a leading global provider of wood preservation technology. Specializing in creating safe and environmentally responsible solutions, Koppers addresses critical challenges across various industries. The company operates through three primary segments: Railroad and Utility Products and Services (RUPS), Performance Chemicals (PC), and Carbon Materials and Chemicals (CMC).
With a diversified product portfolio, Koppers offers treated and untreated wood products, wood treatment chemicals, and carbon compounds. Major products include treated wood crossties for railroads, wood preservation chemicals, and creosote for wood treatment. These products serve niche applications in markets such as railroad, aluminum and steel, agriculture, utilities, residential lumber, and construction.
Koppers' extensive global manufacturing and distribution network spans North America, South America, Australasia, China, and Europe, employing over 2,100 people worldwide. The company is committed to a zero-harm culture, prioritizing the safety of its employees, communities, and the environment. As a member of the American Chemistry Council, Koppers adheres to the Responsible Care® initiative, ensuring sustainable practices across its operations.
Financially, Koppers has shown resilient performance. In the fourth quarter of 2023, the company reported a net income of $12.9 million with consolidated sales rising by 6.3% to $513.2 million. The RUPS segment achieved record sales due to increased demand for crossties, while the PC segment benefited from global pricing initiatives and higher volumes. Despite challenges in the CMC segment, Koppers remains optimistic about future growth, projecting 2024 sales to reach approximately $2.25 billion.
Recent strategic initiatives include the acquisition of Brown Wood Preserving Company for $100 million, aimed at expanding Koppers' utility pole business. The company has also inaugurated a new facility in Leesville, Louisiana, enhancing its operational footprint and supply chain efficiencies. This facility supports Koppers' goal to meet rising infrastructure demands in the U.S.
Looking forward, Koppers aims to continue optimizing its business operations and pursuing both organic and inorganic growth opportunities. The company's commitment to innovation and sustainability positions it well for long-term success.
Koppers Holdings Inc. (NYSE: KOP) announced that it will release its Q1 2023 financial results before the market opens on May 5, 2023, followed by a conference call at 11:00 a.m. ET. The call can be accessed by dialing 833-366-1128 (US/Canada) or 412-902-6774 (international), with a Conference ID of 10176990. Audio replay will be available approximately two hours after the call and can be accessed until August 5, 2023. Koppers is a global provider of treated wood products and carbon compounds, serving diverse end markets, including railroad and construction. For more information, please visit www.koppers.com.
Koppers Holdings Inc. (NYSE: KOP) awarded its annual Zero Harm President's Award to the Ashcroft facility in British Columbia for outstanding safety, environmental responsibility, and innovation performance.
In 2022, Ashcroft achieved zero property damage incidents and the highest number of employee-generated innovations. The facility supplies treated railroad crossties and related products to clients in Western Canada, the Pacific Northwest, and Alaska.
CEO Leroy Ball emphasized the team's collaborative effort in achieving these results. The facility received a $5,000 donation for a local food bank as part of its recognition. Koppers remains committed to promoting a Zero Harm culture, which has led to improved safety metrics, including reduced Total Recordable Rate and Days Away Restricted or Transferred Rate.
Koppers Holdings Inc. (NYSE: KOP) announced the successful closing of a $400 million senior secured Term Loan B (TLB) with a 7-year term. The loan, which carries an interest rate at the company's option of adjusted Term SOFR plus 4.00%, will be used primarily to redeem $500 million of 6.00% Senior Unsecured Notes due in 2025. CFO Jimmi Sue Smith emphasized that this refinancing enhances the company's balance sheet flexibility and risk management by extending the maturity of its debt profile. The company plans to implement hedging strategies to balance its interest rate exposure. Wells Fargo is the administrative agent for the TLB, with several banks acting as joint lead arrangers.
Koppers Holdings Inc. (NYSE: KOP) announced the publication of its 2022 Annual Report and Letter to Shareholders on April 4, 2023. The report, containing audited financial statements for the fiscal year ending December 31, 2022, was filed with the U.S. Securities and Exchange Commission on April 3, 2023. Investors can access the report via the Investor Relations section of the Koppers website or on the SEC's website. Koppers is a global provider of treated wood products, wood treatment chemicals, and carbon compounds, serving multiple industries through a vast manufacturing and distribution network.
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