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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 Performance Chemicals has announced major market share expansions in industrial and commercial wood preservation, contributing to significant growth. This includes securing $40 million in annualized new business and increasing sales of fire-retardant products from $1 million in 2018 to $24 million currently. The company emphasizes a strategic realignment into three sales channels for better focus on market needs. Additionally, ongoing R&D investments aim to bolster their position in the market.
Koppers Holdings Inc. (NYSE: KOP), a global provider of treated wood products, announced plans to release its third-quarter 2022 financial results on November 4, 2022, before the market opens. A conference call discussing the results and outlook will take place at 11:00 a.m. Eastern Time the same day. Interested parties can access the live call at www.koppers.com or by dialing 833-366-1128 for U.S. participants. A replay will be available shortly after the call until February 4, 2023.
Koppers Holdings Inc. (NYSE: KOP) has signed an agreement to acquire substantially all assets of Gross & Janes Co., the largest independent supplier of untreated railroad crossties in North America. The acquisition is expected to close within 30 days, enhancing Koppers' supply chain and logistics capabilities. This strategic move aims to improve customer service, increase access to crossties for Koppers' treating facilities, and support its carbon-positive circular solution. Executives express optimism that this acquisition will benefit both customers and shareholders.
Koppers Recovery Resources LLC, a subsidiary of Koppers Holdings (NYSE: KOP), has secured a five-year, $50 million contract with a Class I railroad to manage end-of-life railroad crossties, effective until December 31, 2027. This initiative supports Koppers' sustainability goals by repurposing recovered materials, with some ties converted into biomass fuel. Koppers now services four out of six Class I railroads, aiming to enhance its market presence while pursuing circular economy solutions. The company targets $300 million in EBITDA by 2025.
Koppers Holdings Inc. (KOP) announced a quarterly net income of $11.7 million, or $0.55 per diluted share, down from $26.9 million in Q2 2021. Record sales of $502.5 million reflect a 14% increase from $441 million last year. Despite growth, adjusted EBITDA fell to $54.6 million, with significant raw material cost pressures. Koppers declared a quarterly dividend of $0.05 per share and announced a new $800 million credit facility to enhance financial flexibility. The 2022 outlook projects sales of $2.0 billion and adjusted EBITDA of $230 million, amid challenges from inflation and geopolitical issues.
Koppers Holdings Inc. (NYSE: KOP) announced plans to release its financial results for Q2 2022 before the market opens on August 4, 2022. The company will discuss its outlook during a conference call at 11:00 a.m. Eastern Time. Interested participants can access the call via a toll-free number or through the company's website, where presentation materials will be available before the call. An audio replay will be accessible two hours after the call and available until November 4, 2022.
For more information, visit www.koppers.com.
Koppers awarded the annual Zero Harm President's Award to its Muncy facility in Pennsylvania for outstanding safety, environmental responsibility, and innovation. The facility produced over 900,000 crossties in 2021, despite challenges like the COVID-19 pandemic and a crosstie shortage. With a focus on proactive safety measures, Koppers achieved record safety engagement and financial performance. The Muncy team received $5,000 for charity as part of their recognition. The company emphasizes a Zero Harm culture, enhancing employee safety and environmental performance.
Koppers Inc. has secured an $800 million revolving credit facility and a $50 million swingline facility to enhance its financial flexibility. This new Credit Agreement replaces a previous $600 million revolving facility, offering lower pricing tiers and supporting Koppers' growth and sustainability strategies. The agreement allows for amendments based on key performance indicators linked to ESG targets. Set to mature on June 17, 2027, this funding is expected to bolster long-term value creation for shareholders while reinforcing the company's commitment to sustainability.
Koppers Inc., a subsidiary of Koppers Holdings (NYSE: KOP), has appointed Kevin Washington as Vice President of External Affairs effective June 13, 2022. Washington will manage relationships with government agencies and oversee corporate communications. With over 20 years in government affairs, he previously worked at Illinois Tool Works. CEO Leroy M. Ball expressed confidence that Washington's expertise will enhance Koppers' strategic initiatives. Washington aims to align the company’s goals with community priorities, supporting its future success.
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