Koppers agrees to sale of property and buildings at its wood preserving facility in Gainesville, Florida, to Beazer East
December 22, 2009
Koppers Inc., a subsidiary of Koppers Holdings Inc. (NYSE:KOP - News), announced today that it has reached an agreement for the sale and transfer of the property and buildings at its wood preserving facility in Gainesville, Florida to Beazer East, Inc.
"The economic downturn has had a significant impact on our operations in Gainesville," said Walt Turner, president and CEO of Koppers. "It is always difficult to close an operating facility such as Gainesville, as a closure like this directly affects the livelihood of our employees. Despite the closure of this facility, Koppers remains committed to the utility pole business and will continue to serve the needs of customers in the southeastern United States from its Florence, South Carolina wood treating facility. We have always been committed to operating the Gainesville facility in full compliance with state and federal environmental regulations. We do understand that investigation and remediation of historic conditions at this site are important issues in Gainesville, and we are hopeful that those environmental issues, which pre-date our ownership of the facility, will be efficiently and satisfactorily resolved."
Koppers Inc. has operated the Gainesville facility since December 1988, focusing on the treatment and distribution of utility poles, marine pilings and marine lumber.
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, 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 Brian H. McCurrie at 412 227 2153 or Michael W. Snyder at 412 227 2131.