Koppers Adjusts Follansbee
Workforce to Meet Market Demands Naphthalene production continues; tar distillation suspended
Nov. 9, 2001, Follansbee, West Virginia— Koppers
Inc. today announced it will suspend coal tar distillation until
further notice at its Follansbee, West Virginia plant because of
reduced customer demand.
The Follansbee plant produces a variety
of coal tar products, including products for the pavement sealer
and roofing industry, carbon pitch
used in the making of steel and aluminum and chemicals used to
make paint and plastics. Because of a seasonal downturn affecting
companies that utilize the plant's coal tar products in their own
operations, Koppers
will temporarily suspend coal tar distillation and 42 employees
will be furloughed.
"
Even with this reduction, our Follansbee plant remains prepared
to return to full production as the market rebounds," said
Kevin Fitzgerald, Koppers vice president. "We anticipate this
reduction to be temporary and will review business conditions during
the first quarter of 2002 to assess the viability of restarting
coal tar distillation."
Koppers' Follansbee plant serves the
aluminum, steel and chemical industries and is a leading domestic
producer of naphthalene, which
is used in paint and plastics for the automotive, recreation
and construction industries. The Follansbee naphthalene plant is
the
only Koppers naphthalene facility and continues to operate at
full capacity.
Koppers is a global integrated producer of carbon
compounds and treated wood products for use in a variety of markets
including
the railroad, aluminum, chemical and steel industries. The
Company operates 39 facilities with locations in the United States,
the
South Pacific (primarily Australia and New Zealand), Europe
and South Africa. The Company also maintains an indirect ownership
interest in an additional facility in the United States through
its domestic joint venture KSA. The Company's stock is shared
by a large number of management investors and by majority equity
owner
Saratoga Partners of New York City. |