Koppers Holdings Inc at Bank of America Leveraged Finance Conference Transcript
Good morning. I'm Roger Spitz, and I cover the high-yield chemicals and paper and packaging sectors at Bank of America and have the pleasure of hosting a fireside chat with Koppers. And we have this morning Jimmie Sue Smith, Chief Financial Officer.
As a reminder, we are webcasting this event. (Event Instructions)
So Koppers reports in three segments, as you probably all know: performance chemicals or PC, where Koppers sells wood treatment production chemicals, for example, wood preservatives, mainly for residential applications like decking; second, railroad and utility products and services or RUPS, where Koppers sells treated and untreated wood products to railroads, such as crossties and also cell utility poles; and then the third is carbon materials and chemicals or CMC, where Koppers is a leader in cold tar distillation, manufacturing a number products, including carbon pitch used to make aluminum anodes, creosote used in wood treatment, as well as carbon black feedstock and naphthalene, which Koppers then turns into phthalic anhydride,
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