Koppers Holdings Inc. reported net income for the Q1 2024 of $13.0 million, or $0.59 per diluted share, compared to $25.5 million, or $1.19 per diluted share, in the prior year quarter.
Koppers Holdings
The deal involves Koppers Utility and Industrial Products Inc., taking over most of Brown Wood's assets, including its pressure-treated wood utility poles production.
FY 2024 consolidated sales of $2.15 billion, a record year, increased $174 million, or 8.8%, compared to $1.98 billion in the prior year.
Koppers is acquiring Brown Wood for a base purchase price of $100 million in cash, subject to certain closing adjustments, and plans to finance the acquisition through cash and borrowing capacity.
Koppers Holdings Inc. announced that the company has increased the size of its Board of Directors from nine to ten members and has elected Nishan J. Vartanian as a director of the company.