PITTSBURGH, PA -- (Marketwired) -- 06/28/16 -- Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), announced today that it has signed long-term contracts with two of its largest railroad customers that will increase its market share for a critical maintenance-of-way component.
The contracts, three years with Norfolk Southern Railway Company (NS) and five years with Union Pacific Railroad (UP), are both for bonded rail joint assemblies.
In addition to bonded rail joint assemblies, Koppers provides various other types of rail joint bar and track component products along with treated railroad crossties and other treated wood products and services to both NS and UP. Koppers produces the bonded rail joint assemblies at its facility located in Huntington, West Virginia.
"These contracts will collectively represent more than a 20 percent year-over-year sales increase in our rail joint business, and are a recognition of the quality products that we supply to this market. While our core focus in our railroad business continues to be the production of high quality wooden crossties, we will continue to look for additional ways to build around that strength with other maintenance-of-way products and services," said Thomas Loadman, Senior Vice President, Railroad Products and Services.
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 on the Web: 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.
Michael J. Zugay
Chief Financial Officer
412 227 2231
Source: Koppers Holdings Inc.