Koppers completes acquisition of Portec Rail joint business
Written by jrood
Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc., said that it has completed a transaction to acquire the rail joint business product line and related manufacturing facility of Portec Rail Products, Inc. for a purchase price of $10.1 million less certain assumed liabilities, subject to certain working capital and other adjustments. The purchase price was funded with cash on hand.
The Portec Rail Joint
business serves the domestic and international railroad markets with a variety
of specialty rail products out of one location in Huntington, W. Va. Revenues
for the business in 2010 are estimated at
approximately $22 million.
