Koppers Announces Conditional Plan to Discontinue Production at Stickney, Illinois Facility
Koppers Holdings Inc. (NYSE: KOP) has conditionally decided to discontinue distillation and chemical manufacturing operations at its Stickney, Illinois facility, citing challenging market conditions and operational inefficiencies. The move is part of the company's strategy to improve margins and cash flow, with production expected to shift to its Nyborg, Denmark facility by late 2026. The decision is subject to union negotiations and will result in pre-tax charges of $227 million to $262 million through 2029.
Tickers: $KOP
Topics: cost optimization financial impact operational restructuring plant closure