Koppers Wood Products a subsidiary of Koppers Holdings said it would acquire Western Poles, an Australian utility pole company. The deal is expected to close by the end of November. Source: Timberbiz, Pittsburgh Business Times, RTT News
Financial terms of the deal between Koppers Wood Products and Ridolfo Forestry Products, the owner of Western Poles, weren’t disclosed.
The closing of the transaction is subject to certain conditions and is expected to be completed by the end of November 2012.
Western Poles acquires and processes timber for utility poles in western Australia.
Their primary customer is Western Power, which maintains approximately 660,000 utility poles in its system.
The acquisition represents further vertical integration in the utility pole supply chain for Koppers and is expected to provide additional annual pole sales in excess of $10 million.
Koppers already has a utility pole operation in Australia.
“We are excited with this opportunity to add the Western Poles business to our existing utility pole presence in Bunbury, Western Australia,” said Koppers President and CEO Walt Turner.
“The substantial increases in infrastructure spending over the next five years will provide ongoing opportunities to grow this business.”
