Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc., recently announced that the company’s 75-percent owned subsidiary, Koppers (Jiangsu) Carbon Chemical Company Limited (KJCC) is providing soft pitch product to its major customer in China under a special purchase order in an effort to manage product inventories at the plant in the fourth quarter. The special purchase order will expire at the end of this year. This purchase order is not intended to either resolve or affect the previously disclosed contractual dispute between KJCC and its major customer.
KJCC does not expect this development to have any material impact on its operations or financial performance. Accordingly, Koppers is maintaining the company’s overall outlook of $1.7 billion in sales, adjusted earnings before interest and taxes (EBITDA) of approximately $220 million, and adjusted earnings per share (EPS) in the range of $3.30 to $3.40 for 2018.
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds.