Koppers Inc. Reports Improved
Third Quarter Earnings
Oct. 30, 2002, Pittsburgh, Pennsylvania — Net
income of Koppers ("Koppers") for the quarter ending
September 30, 2002 was $6.5
million compared to $4.6 million in the third quarter of 2001.
Sales in the quarter were $198.2 million, up 12% from the $176.7
million reported in the comparable 2001 period, with sales increases
for both Railroad & Utility Products (up 22%) and Carbon Materials & Chemicals
(up 5%).
On a year-to-date basis, Koppers net income was
$13.9 million compared to $11.0 million in the first nine months
of 2001. Sales for the
first nine months of 2002 were $555.1 million compared to $540.7
million during the same period in 2001, as significantly higher
sales for Railroad & Utility Products have more than offset
reductions in the US Carbon Materials & Chemicals business.
Commenting
on the first nine months, President and CEO Walter W. Turner said, "Our
third quarter results reflect Koppers solid position in the global
markets we serve, with particular strengths
in our North American Railroad segment and our Australian and European
Carbon Materials & Chemicals businesses. Third quarter crosstie
demand from our North American Class I Railroad customers continued
at a strong pace throughout the period, underscoring their commitment
to safety and improved productivity. In our Carbon Materials & Chemicals
segment, steady product demand and profitability in our Australian
and European businesses have offset some of the decline in shipments
to our US aluminum, steel and chemical customers. We continue to
be firmly committed to maintaining or improving our market position
in our core businesses. We also remain focused on safety and environmental
performance for our employees and the communities in which we operate,
as well as cost control and productivity as we continue to strive
to deliver the highest valued products and services to our customers."
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.
View the "Koppers
Results For Third Quarter 2002" | 
