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Stock Market & Financial Investment News

News Breaks
May 5, 2014
08:46 EDTKOPKoppers Holdings reports Q1 adjusted EPS 32c, consensus 54c
Reports Q1 revenue $331.4M, consensus $380.87M. Sales for Carbon Materials and Chemicals totaling $202.6M decreased by 12%, or $27.9M compared to the prior year quarter while sales for Railroad and Utility Products and Services, or RUPS, of $128.8M decreased by 8% or $11.1M compared to $139.9M in the prior year quarter. Sales for CMC decreased due mainly to lower sales volumes and prices for carbon pitch and distillates and lower sales prices for phthalic anhydride, which more than offset higher sales prices for naphthalene. The decrease in sales for RUPS was driven by lower sales volumes for untreated railroad crossties as a result of competition for hardwood lumber from other markets combined with unfavorable weather conditions for logging operations.
News For KOP From The Last 14 Days
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January 21, 2015
07:16 EDTKOPKoppers Holdings sells utility pole business to Cox Industries
Cox Industries has completed the acquisition of the U.S. utility pole business from Koppers Inc., a wholly owned subsidiary of Koppers Holdings. The transaction includes the sale of Koppers existing pole inventory, lease agreements related to multiple pole distribution yards Koppers maintains throughout the country, and the purchase of related manufacturing assets. The transaction does not include the sale of Koppers wood treating facility located in Florence, South Carolina.
January 20, 2015
08:34 EDTKOPKoppers Inc. acquires creosote distribution business of KMG Chemicals for $12.5M
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08:33 EDTKOPKMG Chemicals announces sale of creosote distribution assets to Koppers
KMG Chemicals (KMG) announced that it has sold its creosote distribution business to Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (KOP). Assets included in the transaction are KMG’s rail car and tank terminal leases, and creosote inventory. KMG estimates that cash proceeds from the sale will be approximately $15.5M, which includes approximately $3M worth of inventory. The asset sale closed concurrently with the signing of the asset purchase agreement. KMG fully retains its North American pentachlorophenol manufacturing operations, and the company will continue to produce and supply this important wood preservative used for the treatment of wooden utility poles and cross-arms.
08:31 EDTKOPKoppers Inc. sells U.S. utility pole business to Cox Industries
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January 15, 2015
09:34 EDTKOPKoppers Holdings downgraded to Neutral from Buy at Monness Crespi
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