Koppers Holdings closes carbon black manufacturing facility in Kurnell, Australia, Dec. 5; facility, which produces carbon compounds, wood treatment products, closing due to deteriorating operating conditions, competition in export markets, company says
December 5, 2011
– Koppers Holdings closes manufacturing facility in Australia; expects $7M-$9M in costs
Koppers Holdings Inc., which produces carbon compounds and wood treatment products, said Monday that it closed a manufacturing facility in Australia because of deteriorating operating conditions, competition in export markets and other factors.
The carbon black manufacturing plant in Kurnell, which employed about 65 people, shut down on Monday, the company said. The facility will continue to wind down its operation over the next four months.
The closure will cost between $7 million and $9 million after taxes in severance payments, demolition, inventory write-downs and other costs. About $6 million to $8 million of that charge will come in the fourth quarter.
Koppers is based in Pittsburgh.
Koppers shares rose 96 cents, or 2.8 percent, to $35.02 in morning trading.
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