PITTSBURGH, PA -- (Marketwired) -- 11/18/13 --
Koppers Netherlands B.V., a subsidiary of Koppers Holdings Inc. (NYSE: KOP), has requested the advice of the Works Council at its Uithoorn, Netherlands plant with respect to an intended decision to discontinue the manufacturing of coal tar and petroleum products at the Uithoorn facility by July 1, 2014. The intended decision would unfortunately result in a collective dismissal of many plant employees. The Company intends to handle the entire reorganization process in compliance with applicable law, including full respect for the advisory powers of the Works Council before a decision may be taken. Due to the confidential nature of these discussions, the Company is unable to offer further comments at the present time.
About Koppers
Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, The Netherlands, Australia and China. 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 Leroy M. Ball at 412 227 2118 or Michael W. Snyder at 412 227 2131.
Safe Harbor Statement
The statements made in this press release regarding the amount and timing of the charge to earnings the Company expects to record, the estimates of the total costs and the expected cash outlays constitute forward looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those expressed by these forward-looking statements as a result of various important factors, including: finalization of employee severance arrangements; finalization of the accounting impact of the closures; higher than expected demolition, site clearing, environmental remediation or asset retirement costs; and other factors and risks discussed in the Company's 2010 Annual Report on Form 10-K which is on file with the Securities and Exchange Commission. In addition, the forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.
For Information:
Leroy M. Ball
Vice President and Chief Financial Officer
412 227 2118
Email Contact
Source: Koppers Holdings Inc.