PITTSBURGH, PA, Feb 16, 2012 (MARKETWIRE via COMTEX) --Koppers Inc., a wholly owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), has entered into a Memorandum of Understanding with Nippon Steel Chemical, Sojitz JECT, Pizhou City People's Government and Yizhou Group to develop and construct a fully integrated coal tar based carbon products complex in Pizhou City, Jiangsu Province, China. The facilities are expected to be comprised of three plants including a 250,000 metric ton coal tar distillation plant and two downstream plants producing needle coke and carbon black. It is envisioned that the carbon black and needle coke facilities will be wholly-owned subsidiaries of Nippon Steel Chemical and the coal tar distillation facility will be owned by Koppers and Yizhou Group, with Koppers owning a majority share. Plant construction is expected to commence in 2012 with completion targeted for early 2014.
"We are excited to have the unique opportunity to partner with Nippon Steel Chemical, Sojitz JECT, Pizhou City, and Yizhou Group for this growth project. The joint cooperation among these entities brings together the many strengths of each partner to further expand our presence in the carbon and chemicals markets in China," said Walter W. Turner, president and CEO of Koppers.
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 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 the Company 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.
For Information: Leroy M. Ball Vice President and Chief Financial Officer 412 227 2118 Email Contact
SOURCE: Koppers Holdings Inc.
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