Adds Peeling and Drying Capacity to Serve Key Geographic Markets
PITTSBURGH, Nov. 16, 2022 /PRNewswire/ -- Koppers Utility and Industrial Products Inc. (UIP), a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds, today announced the purchase of a 105-acre property in Leesville, Louisiana. The site will host a facility providing additional peeling and drying capacity used in the Koppers wood treatment process.
The addition of this new facility creates an opportunity for Koppers to reduce costs through plant automation, an improved logistics network, and increased drying capacity. The Leesville site is expected to become operational in mid-2023.
The property was purchased from a client of The Molpus Woodlands Group, LLC.
Commenting on the transaction, President and Chief Executive Officer Leroy Ball said, "This acquisition has always been a priority in order to help leverage our existing treating assets in Somerville, Texas. Also, this new site will allow us to be closer to the raw material source and significantly lower our costs. For a relatively modest investment, we will be able to expand our presence in utility markets, including those with limited supply options available in the past.
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. We serve our customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, 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: www.koppers.com. Inquiries from the media should be directed to Ms. Jessica Franklin Black at BlackJF@koppers.com or 412-227-2025. Inquiries from the investment community should be directed to Ms. Quynh McGuire at McGuireQT@koppers.com or 412-227-2049.
Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Koppers assets and the effect of any resulting impairment charges, profitability and anticipated expenses and cash outflows.
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