Wednesday, January 22, 2014

Koppers completes acquisition of Canadian crosstie treating business

Koppers Inc., has completed the purchase of the crosstie treating business and related manufacturing facility of Tolko Industries Ltd., located in Ashcroft, BC, Canada.

 

The purchase price, after an adjustment for working capital of CA$0.9 million (US$0.8 million), was CA$32.4 million (US$29.3 million) subject to post-closing adjustments. The purchase has been funded primarily by cash on hand.

"We are pleased to complete the acquisition of Tolko's Ashcroft crosstie treating business, which will strengthen our presence in the Canadian railroad industry, as well as the northwest region of the United States," said Walt Turner, president and CEO of Koppers. "I am excited to welcome our new Ashcroft employees to the Koppers family."

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