Koppers Utility and Industrial Products Inc., a wholly-owned subsidiary of Koppers Holdings Inc., announced the purchase of a 70-acre property in Glendale, Oregon.
In support of Koppers strategy to expand and optimize its business to achieve the company's target of $300 million adjusted EBITDA in 2025, the acquired property provides various options, including optimizing Koppers Performance Chemicals distribution network and expanding the company's wood treating capabilities to the West Coast.
The purchase of the land, formerly used as a sawmill, also includes equipment on premises. The property was acquired from The Emerald Fund, LLC.
Commenting on the deal, President and CEO Leroy Ball said, "Our West Coast Performance Chemicals business has grown to the point where adding production and distribution capabilities makes sense to lower our costs and improve our margins. Longer-term, this property also has the potential to expand our industrial treating footprint into a geographic market that we do not yet serve. This example again demonstrates our ongoing focus on network optimization, a key strategic pillar of our value creation business model, and represents the next step on our path toward reaching our long-term profitability goal."
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds.
