PITTSBURGH, April 28 /PRNewswire-FirstCall/ -- Effective today, Koppers has purchased certain assets related to the coal tar business of Reilly Industries, Inc. The purchase supports the Company's business strategy of growing its core coal tar businesses both in North America and on a worldwide basis.
The purchased assets consist primarily of sales and purchase contracts and inventories. The additional production volumes will be integrated into existing Koppers distillation facilities in the United States. The Company expects to realize revenues of approximately $70-$80 million on an annualized basis as a result of the purchase.
Koppers has obtained financing for the purchase through the Company's existing bank group.
The Company will provide additional details related to the acquisition as part of its first quarter earnings call.
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, Australia, China, the Pacific Rim and South Africa. The stock of Koppers Holdings Inc. (NYSE: KOP) 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 Brian H. McCurrie at 412 227 2153 or Michael W. Snyder at 412 227 2131.
This news release may contain forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward- looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which Koppers does business; competitive pressures; the loss of one or more key customer or supplier relationships; customer insolvencies; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials; and other economic, business, competitive, regulatory and/or operational factors affecting the business of Koppers generally.
SOURCE: Koppers Holdings Inc.
CONTACT: Brian H. McCurrie, Vice President and Chief Financial Officer of Koppers, +1-412-227-2153, or McCurrieBH@koppers.com