Koppers Netherlands Requests Advice of Dutch Works Council Regarding Future of Tar Distillation Plant
(Thomson Reuters ONE) -
PITTSBURGH, PA--(Marketwired - Nov 18, 2013) - Koppers Netherlands B.V., a
subsidiary of Koppers Holdings Inc. (NYSE: KOP), has requested the advice of the
Works Council at its Uithoorn, Netherlands plant with respect to an intended
decision to discontinue the manufacturing of coal tar and petroleum products at
the Uithoorn facility by July 1, 2014. The intended decision would unfortunately
result in a collective dismissal of many plant employees. The Company intends to
handle the entire reorganization process in compliance with applicable law,
including full respect for the advisory powers of the Works Council before a
decision may be taken. Due to the confidential nature of these discussions, the
Company is unable to offer further comments at the present time.
About Koppers
Koppers, with corporate headquarters and a research center in Pittsburgh,
Pennsylvania, is a global integrated producer of carbon compounds and treated
wood products. Including its joint ventures, Koppers operates facilities in the
United States, United Kingdom, Denmark, The Netherlands, Australia and China.
The stock of Koppers Holdings Inc. is publicly traded on the New York Stock
Exchange under the symbol "KOP." For more information, visit us on the Web:
www.koppers.com. Questions concerning investor relations should be directed to
Leroy M. Ball at 412 227 2118 or Michael W. Snyder at 412 227 2131.
Safe Harbor Statement
The statements made in this press release regarding the amount and timing of the
charge to earnings the Company expects to record, the estimates of the total
costs and the expected cash outlays constitute forward looking statements for
purposes of the safe harbor provisions under The Private Securities Litigation
Reform Act of 1995. Actual results could differ materially from those expressed
by these forward-looking statements as a result of various important factors,
including: finalization of employee severance arrangements; finalization of the
accounting impact of the closures; higher than expected demolition, site
clearing, environmental remediation or asset retirement costs; and other factors
and risks discussed in the Company's 2010 Annual Report on Form 10-K which is on
file with the Securities and Exchange Commission. In addition, the forward-
looking statements represent our estimates only as of today and should not be
relied upon as representing our estimates as of any subsequent date. While we
may elect to update forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so, even if our estimates change.
Contact Information
For Information:
Leroy M. Ball
Vice President and Chief Financial Officer
412 227 2118
BallLM(at)koppers.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Koppers Holdings Inc. via Thomson Reuters ONE
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