| Koppers to Jointly Build Tar Distillation Facility in China |
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Pittsburgh, Pennsylvania, USA, 11 December 2006 -- /PRNewswire/ -- Koppers Holdings Inc. (NYSE:KOP) today announced that it has entered into a joint venture agreement with two Chinese companies to construct a state-of-the-art tar distillation facility in the Hebei Province near the Jingtang port.
The plant will be capable of distilling approximately 300,000 metric tons of tar into various products, including carbon pitch, carbon black oils, and naphthalene. Koppers will own a 30% interest in the facility and will partner with Kailuan Clean Coal Company, Ltd., and Tangshan Iron & Steel Group Company, Limited. Tangshan Iron & Steel is Koppers joint venture partner for its existing Chinese tar distillation facility, Koppers (China) Carbon & Chemical Co., Ltd.
The plant will be located near Kailuan's coke batteries, which will provide coal tar to the plant for use as a raw material. The plant will also be located near Koppers other joint venture in Tangshan, which includes a port facility to provide export capabilities. Koppers will be responsible for export sales of carbon pitch, naphthalene, and carbon black oils from the facility. Koppers expects to use carbon pitch produced at this facility to help it meet expanding global aluminum industry demands. Carbon black oils and naphthalene are expected to be sold primarily into the local Chinese rubber and superplasticizer markets, respectively. Other related coal tar products will be sold locally as well. The startup of the new plant is planned to be in 2008.
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, Australia, China, the Pacific Rim, and South Africa. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol "KOP." For more information, visit www.koppers.com.
Source: Koppers Holdings Inc.
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