Blog Coverage Koppers Announced Agreement with ArcelorMittal

LONDON, UK / ACCESSWIRE / January 18, 2017 / Active Wall St. blog coverage looks at the headline from Koppers Holdings Inc. (NYSE: KOP) and ArcelorMittal (NYSE: MT). Koppers Inc., a wholly-owned subsidiary of Koppers Holdings, announced on January 17, 2017, that it has entered into long-term coal tar supply agreements with steelmaker, ArcelorMittal. The contracts will have an initial term of 10 years, pursuant to which Koppers will purchase coal tar produced as a by-product in the coke plants located in the US under ArcelorMittal. The contracted volume supplied from ArcelorMittal will deliver a significant portion of the domestic raw material demand from Koppers. Register with us now for your free membership and blog access at:

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About the Companies

Koppers Holdings Inc. is an integrated provider of treated wood products, carbon compounds, and wood treatment chemicals. Koppers executes its operations through three business segments:

Railroad and Utility Products Service (RUPS)
Carbon Materials and Chemicals (CMC)
Performance Chemicals (PC)

The company is the largest global supplier of wood preservation chemicals while its RUPS unit is the largest supplier of railroad crossties in North America. Koppers is also the largest global distiller of coal tar and distils into a variety of useful products. The Company reported Q3 2016 EPS of $0.58 against the prior year EPS of $0.49.

ArcelorMittal is a Luxembourg-based holding company and a leading producer of steel. The Company operates through five segments, which are: NAFTA, Europe, Brazil, Africa and Commonwealth of Independent States (ACIS), and Mining. ArcelorMittal boasts of a pan-nation presence across 60 countries and industrial footprint in more than 19 countries.

The Agreement

ArcelorMittal operates three coke plants to transform coal into coke, including the facilities in Monessen, Pennsylvania, and Warren, in northeastern Ohio. Coal tar is a viscous liquid rich in carbon content with a complex chemical make-up. Koppers uses it in the production of Creosote, and it is used for treating crossties for the railroad industry. Leroy Ball, CEO, Koppers, views these contracts as the latest step in the Company’s strategy to establish Koppers as the global leader in wood-based technologies. The agreement is expected to generate a stable, long-term supply of creosote to the North American rail industry.

Koppers Unification strategy

Last February, Koppers announced the closure of two UK distillation facilities in an attempt to streamline the operating footprint of its Carbon Materials and Chemicals Business. Koppers, headquartered in Pittsburgh, announced the sale of its tar distillation properties and assets on May 07, 2016, to the UK based Industrial Chemicals Group (ICGL). This sell-off was viewed as unification complementary to the closure of the tar distillation facilities.

Additionally, Koppers announced on January 17, 2017 that it closed a long-term lease of its Follansbee, West Virginia, coal tar distillation facility to ORV Fuels LLC. As per speculations, Koppers will cease its naphthalene refining activities at the Follansbee facility in about one year and will utilize the site as a terminal for distribution during ORV’s lease period.

Stock Performance

On Tuesday, January 17, 2017, Koppers Holdings’ stock closed the trading session at $40.15, slipping 1.47% from its previous closing price of $40.75. A total volume of 117.59 thousand shares have exchanged hands. Koppers Holdings’ stock price surged 25.00% in the last three months, 31.90% in the past six months, and 162.76% in the previous twelve months. The stock’s net market capital stood at $818.26 million as per the closing price on Tuesday.

ArcelorMittal’s share price finished yesterday’s trading session at $8.13, climbing 1.12%. A total volume of 12.94 million shares exchanged hands. The stock has advanced 40.66% and 139.82% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 11.37%. The stock has a dividend yield of 1.87% and currently has a market cap of $24.44 billion.

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