Cox Industries Buys U.S. Utility Pole Business From Koppers - Quick Facts

(RTTNews) - Cox Industries Inc., a privately-held wood treating company based in Orangeburg, South Carolina, said it has completed the acquisition of the U.S. utility pole business from Koppers Inc., a wholly owned subsidiary of Koppers Holdings Inc. (KOP). Financial terms of the deal were not disclosed.

Cox noted that completion of the transaction makes it one of the country's largest providers of treated wood utility poles. The transaction includes the sale of Koppers existing pole inventory, lease agreements related to multiple pole distribution yards that is maintained by Koppers throughout the country, and the purchase of related manufacturing assets.

However, the deal does not include the sale of Koppers wood treating facility located in Florence, South Carolina. Cox said it will open a new office in Pittsburgh, Pennsylvania to allow for the successful transition of Koppers employees to Cox.