Koppers Announces Agreement to Acquire Ridolfo Forestry Products Business in Western Australia
PITTSBURGH, PA -- (Marketwire) -- 11/06/12 -- Koppers Wood Products Pty Ltd, a subsidiary of Koppers Holdings Inc. (KOP), announced an agreement to acquire the Western Poles (Western Poles) business from Ridolfo Forestry Products Pty Limited (Ridolfo), for an undisclosed purchase price. The closing of the transaction is subject to certain conditions and is expected to be completed by the end of November 2012. Western Poles conducts business primarily in the State of Western Australia procuring and processing timber for the Western Australian utility pole market. Their primary customer is Western Power, which maintains approximately 660,000 utility poles in its system. The acquisition represents further vertical integration in the utility pole supply chain for Koppers and is expected to provide additional annual pole sales in excess of $10 million.
Walt Turner, president and CEO of Koppers, said, "We are excited with this opportunity to add the Western Poles business to our existing utility pole presence in Bunbury, Western Australia. The substantial increases in infrastructure spending over the next five years will provide ongoing opportunities to grow this business."
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, expected benefits of the Western Poles acquisition, 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.