Koppers To Sell U.S. Utility Pole Business To Cox Industries - Quick Facts

(RTTNews) - Koppers, Inc., a wholly-owned subsidiary of Koppers Holdings, Inc. (KOP), announced that it has agreed to sell its U.S. utility pole business to Cox Industries, Inc. for an undisclosed sales price. Revenues for this business for year 2014 were about $43 million.

Koppers noted that the deal does not include the sale of Florence, South Carolina-based Koppers wood treating facility, which was the primary production facility for this business.

The Florence facility, which also treats railroad crossties and other railroad products, will remain with Koppers and will continue to provide products and services for the company's railroad customers.

Koppers added that it determined that a divestiture of the U.S. utility business was the best long-term alternative for it after conducting a strategic review.