SOURCE: Koppers Holdings Inc.

July 02, 2008 08:36 ET

Koppers Reports Favorable Ruling in Mississippi Civil Case

PITTSBURGH, PA--(Marketwire - July 2, 2008) - Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), announced today that the United States Court of Appeals for the Fifth Circuit has reversed outright a jury verdict and has rendered judgment in favor of the company in a lawsuit in which Koppers had been assigned 20 percent responsibility for damages sought by the estate of a Grenada, Mississippi woman. Koppers 20 percent portion of the original compensatory damages amounted to $169,000, which was later reduced to $157,000. The case was the first lawsuit to go to trial in a number of lawsuits relating to the company's Grenada, Mississippi wood treating plant. Koppers prevailed in the punitive damage phase of the case. Several other claims against the company involving the Grenada plant have already been voluntarily dismissed or have been dismissed by the courts. Koppers believes the Fifth Circuit ruling may lead to the dismissal of other lawsuits filed against it after the expiration of the Mississippi statute of limitations. The company intends to continue to vigorously defend the remaining cases brought against it.

About Koppers

Koppers, with corporate headquarters and a research center in Pittsburgh, Pennsylvania, is a global integrated producer of carbon compounds and treated wood products. Including its joint ventures, Koppers operates facilities in the United States, United Kingdom, Denmark, Australia and China. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange under the symbol "KOP." For more information, visit us on the Web: Questions concerning investor relations should be directed to Brian H. McCurrie at 412 227 2153 or Michael W. Snyder at 412 227 2131.

Safe Harbor Statement

This news release may contain forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to, changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the Company does business; competitive pressures; the loss of one or more key customer or supplier relationships; customer insolvencies; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost and availability of raw materials; and other economic, business, competitive, regulatory and/or operational factors affecting the business of Koppers generally.

Contact Information

  • For Information:
    Brian H. McCurrie
    Vice President, Chief Financial Officer
    412 227 2153
    Email Contact