PITTSBURGH, Oct. 25, 2016 /PRNewswire/ -- Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), announced today that it has agreed to a contract extension with one of its four largest railroad customers, Norfolk Southern Railway Company. In 2015, revenues from Norfolk Southern represented approximately 10 percent of railroad-related sales.
The current agreement extends the contract to 2021 from the previous 2016 expiration and includes commitments for Koppers to provide crossties as well as other related products to Norfolk Southern through the contract period.
Tom Loadman, Senior Vice President of Railroad Products and Services, said, "We place a high value on our long-term relationship with Norfolk Southern, and are pleased with their confidence in Koppers to continue serving them as a critical business partner for many more years."
Koppers President and CEO Leroy Ball said, "We are proud of our long-standing record of serving Norfolk Southern and the Class I rail industry in North America. Our commitment to supplying high-quality products and services to the rail industry will continue to be an emphasis for Koppers as we transform the company into the global leader in wood-based technology."
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. Including our joint ventures, we serve our customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China 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 us at: www.koppers.com. Questions concerning investor relations should be directed to Michael J. Zugay at 412 227 2231 or Quynh McGuire at 412 227 2049.
Safe Harbor Statement
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 revenues, earnings, restructuring, 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 and availability of raw materials; and other economic, business, competitive, regulatory and/or operational factors affecting the business of Koppers generally.
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SOURCE Koppers Holdings Inc.