Koppers Inc announces MOU for construction of coal tar carbon products complex in China.
M2 EQUITYBITES-February 17, 2012-Koppers Inc announces MOU for construction of coal tar carbon products complex in China(C)2012 M2 COMMUNICATIONS http://www.m2.com
Koppers Inc said on Thursday that it has entered into a Memorandum of Understanding (MOU) to develop and construct a fully integrated coal tar based carbon products complex in Pizhou City, Jiangsu Province, China.
The company has signed the MOU with Nippon Steel Chemical, Sojitz JECT, Pizhou City People's Government and Yizhou Group.
This complex is expected to be comprised of three plants including a 250,000 metric ton coal tar distillation plant and two downstream plants producing needle coke and carbon black, added Koppers.
Under a proposed agreement, the carbon black and needle coke facilities will be wholly-owned subsidiaries of Nippon Steel Chemical and the coal tar distillation facility will be owned by Koppers and Yizhou Group, with Koppers owning a majority share.
In addition, Koppers plans to commence construction in 2012 with completion targeted for early 2014.
Koppers Inc is a producer of carbon compounds and treated wood products and a wholly owned subsidiary of Koppers Holdings Inc (NYSE:KOP).
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|Date:||Feb 17, 2012|
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