Koppers reports higher sales of carbon black

ERJ staff report (DS)

Pittsburgh, Pennsylvania -- Koppers Holdings Inc., has reported strong sales for the second quarter. The company makes and sells carbon black through its Carbon Materials and Chemicals (CM&C) unit. Koppers sales sales volumes in the CM&C unit rose, leading to an increase of 30 percent in sales revenues.

CM&C sales for the three months to 30 June 2010 amounted to $208.4 million, up from $160.9 million a year previously. Operating profits increased to $21.4 million, from $19.9 million a year ago.

The company noted that its carbon black business had been affected by operating problems at its Australian carbon black plant. The plant experienced operating problems due to boiler problems throughout the first half. The problem is likely to be resolved during the third quarter.

Koppers operates a single carbon black unit at Kurnell, New South Wales, Australia.

Commenting on the quarter, President and CEO Walter W. Turner said, "I am pleased that our global carbon materials and chemicals business has improved over the first half of 2009 despite the slow, uneven rebound in the global economy.

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Press release from Koppers

Koppers Holdings Inc. Reports Operating Results (10-Q) GuruFocus (US)