Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals, and carbon compounds, today announced that Koppers Inc., a wholly-owned subsidiary of Koppers Holdings, has signed a definitive agreement to acquire substantially all of the assets of Gross & Janes Co. for an undisclosed amount. The transaction is expected to close within the next thirty days, subject to customary closing conditions.
Gross & Janes, headquartered in Kirkwood, Missouri, is the largest independent supplier of untreated railroad crossties in North America, with operations in Williamsville, Missouri, and Camden, Arkansas.
Chief Operating Officer Jim Sullivan said, "The Gross & Janes name has been well respected in the industry for a long time, so I am extremely pleased to have them on our team. In addition to the increased access to crossties, their fixed assets will enable us to rethink our logistics footprint and potentially displace near-term capital requirements at some of our existing facilities while also driving other meaningful tangible synergies to our bottom line."
Commenting on the transaction, President and Chief Executive Officer Leroy Ball said, "We are happy to add the Gross & Janes team to the Koppers family, which I believe will immediately benefit our customers and shareholders. The last few years have taught us the value of a strong uninterrupted supply network, and this acquisition only enhances the value of our integrated supply model by providing additional access to untreated crossties to feed our treating facilities. From hardwood procurement, to preservative production, to treating the final product and disposing of it responsibly at its end of life, Koppers is proud to be the only crosstie supplier to offer a carbon positive circular solution for our products at scale.
