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Wednesday, February 17, 2010

Koppers expands crosstie procurement business

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Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. said it has completed a transaction with Barham-Sevier Tie Company, Inc. to acquire a crosstie procurement business that includes land and equipment for an undisclosed purchase price. The asset purchase from Barham-Sevier is expected to result in total additional revenues of approximately $8 to $10 million on an annual basis.

"This agreement reflects our continuing efforts to better serve our customers by expanding our procurement capabilities," said Walt Turner, President and CEO of Koppers. "To be able to increase revenues by as much as $10 million for a relatively small investment is very positive for Koppers. We intend to continue pursuing accretive incremental business in this distressed environment to enhance our market position."