Koppers Inc., has signed an asset purchase agreement to acquire the crosstie treating business and related manufacturing facility of Tolko Industries Ltd., located in Ashcroft, BC, Canada.
The proposed transaction between Koppers and Tolko is subject to certain closing conditions. Koppers expects the acquisition to close within 30 days with the purchase price being funded primarily by cash on hand.
Walt Turner, president and chief executive officer of Koppers, said, “The acquisition of Tolko’s Ashcroft crosstie treating business strengthens our presence in the Canadian railroad industry, as well as the northwest region of the United States. This transaction fits well with our strategic growth plan for our railroad products and services business in North America as we continue to build on our commitment of providing quality products and services to the railroad industry.”