PITTSBURGH, Jan. 9, 2019 /PRNewswire/ -- Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), today announced that its Performance Chemicals business has entered into a sales arrangement to supply FlamePRO® to Biewer Lumber. Supply will begin effective immediately and is estimated to generate sales of approximately $10 million over a two-year period, with the potential to extend for an additional 12 months.
"Koppers is excited about the opportunities to grow in our select markets related to our fire-retardant product. We introduced FlamePRO® in September 2018 for wood-based construction applications and we are pleased that it is being recognized as a premier solution in the marketplace," said Koppers Performance Chemicals Senior Vice President Doug Fenwick.
Commenting on the partnership, Biewer Lumber Vice President Doug O'Rourke said, "Biewer Lumber's long-standing history with Koppers has remained unwavering over the years. With the introduction of FlamePRO® into their portfolio, we felt that we could strengthen our position in the market with their partnership."
As previously announced, FlamePRO® serves a growing addressable market that is currently estimated at $60 million to $80 million in the United States. For more information, visit http://kopperspc.com/flamepro/.
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Our products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber, and construction industries. Including our joint ventures, we serve our customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia, China and Europe. 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 Michael J. Zugay at 412 227 2231 or Quynh McGuire at 412 227 2049.
About Biewer Lumber
Headquartered in St. Clair, Michigan, Biewer Lumber's current operating structure includes five sawmills, three pressure-treating plants and a full-service Logistics fleet. Biewer Lumber manufactures and distributes lumber and building materials for use by contractors, builders, and do-it-yourselfers. Biewer customers include retail lumber yards, home centers, and manufacturers throughout the U.S. and parts of Canada.
Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions, restructuring, declines in the value of Koppers assets and the effect of any resulting impairment charges, profitability and anticipated expenses and cash outflows. All forward-looking statements involve risks and uncertainties. All statements contained herein that are not clearly historical in nature are forward-looking, and words such as "outlook," "guidance," "forecast," "believe," "anticipate," "expect," "estimate," "may," "will," "should," "continue," "plans," "potential," "intends," "likely," or other similar words or phrases are generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in other press releases, written statements or other documents filed with the Securities and Exchange Commission, or in Koppers communications and discussions with investors and analysts in the normal course of business through meetings, phone calls and conference calls, regarding expectations with respect to sales, earnings, cash flows, operating efficiencies, restructurings, the benefits of acquisitions, divestitures, joint ventures or other matters as well as financings and debt reduction, are subject to known and unknown risks, uncertainties and contingencies. Many of these risks, uncertainties and contingencies are beyond our control, and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Factors that might affect such forward-looking statements include, among other things, the impact of changes in commodity prices, such as oil and copper, on product margins; general economic and business conditions; potential difficulties in protecting our intellectual property; the ratings on our debt and our ability to repay or refinance our outstanding indebtedness as it matures; our ability to operate within the limitations of our debt covenants; potential impairment of our goodwill and/or long-lived assets; demand for Koppers goods and services; competitive conditions; interest rate and foreign currency rate fluctuations; availability and costs of key raw materials; unfavorable resolution of claims against us, as well as those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly our latest annual report on Form 10-K and quarterly report on Form 10-Q. Any forward-looking statements in this release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.
SOURCE Koppers Holdings Inc.