Koppers Holdings (KOP) Completes Sale of Monessen Coke Plant; Expects After-Tax Proceeds of $90M
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Koppers Holdings Inc. (NYSE: KOP) announced today the completion of the sale of its metallurgical coke plant located in Monessen, Pennsylvania to a wholly-owned subsidiary of ArcelorMittal Holdings Inc. (NYSE: MT) for a purchase price of approximately $160 million. Koppers cash proceeds after taxes are estimated to be approximately $90 million, a portion of which Koppers will use to pay down existing bank debt.
Koppers Holdings, Inc., through its subsidiaries, provides carbon compounds and commercial wood treatment products to aluminum, railroad, specialty chemical, utility, rubber and steel industries.
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