Koppers enters MOU with Nippon Steel Chemical to construct fully integrated coal tar-based carbon products complex in Pizhou City, China, for production of carbon black, needle coke; companies aim to have construction completed by early 2014
Alison Gallant
PITTSBURGH
,
February 17, 2012
(press release)
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Koppers Inc., a wholly owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), has entered into a Memorandum of Understanding with Nippon Steel Chemical, Sojitz JECT, Pizhou City People's Government and Yizhou Group to develop and construct a fully integrated coal tar based carbon products complex in Pizhou City, Jiangsu Province, China. The facilities are expected to be comprised of three plants including a 250,000 metric ton coal tar distillation plant and two downstream plants producing needle coke and carbon black. It is envisioned that the carbon black and needle coke facilities will be wholly-owned subsidiaries of Nippon Steel Chemical and the coal tar distillation facility will be owned by Koppers and Yizhou Group, with Koppers owning a majority share. Plant construction is expected to commence in 2012 with completion targeted for early 2014.
"We are excited to have the unique opportunity to partner with Nippon Steel Chemical, Sojitz JECT, Pizhou City, and Yizhou Group for this growth project. The joint cooperation among these entities brings together the many strengths of each partner to further expand our presence in the carbon and chemicals markets in China," said Walter W. Turner, president and CEO of Koppers.
About Koppers
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.
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