Koppers closing Cindu acquisition

Koppers Holdings Inc. said that one of its wholly-owned subsidiaries, Koppers International B.V. has completed a transaction to acquire 100 percent of the outstanding shares of privately-owned Cindu Chemicals B.V. ("Cindu") from joint owners Cindu B.V. and Corus Staal B.V. for an undisclosed purchase price. Koppers has funded the acquisition primarily with cash on hand in Europe.

In addition to acquiring ownership of Cindu, Koppers
has entered into a long-term tar supply contract with Corus Staal, which supplies
the majority of raw material requirements for the Uithoorn plant located in the
Netherlands.

Cindu’s operations and end-markets are similar to
those of other Koppers plants within the Carbon Materials and Chemicals
business unit. Primary products include carbon pitch, naphthalene, carbon black
feedstock and certain specialty products and coatings. The business includes a
140,000 metric ton tar distillation plant located in Uithoorn, Netherlands and
storage tanks located at the Port of Amsterdam.

Walt Turner, President and CEO of Koppers, said,
"The acquisition of Cindu gives Koppers a stronger presence in the
European market while enhancing our ability to serve our export markets. We are
excited to welcome the Cindu employees into the Koppers group, and we look forward
to their involvement and contributions to our future endeavors in the coal tar
chemicals business. We view this transaction as one of many steps that we are
taking to provide our customers with quality products and services."