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Corus Sells Stake in Tar Distillation Plant to Koppers
03/03/2010 - Corus Staal BV and Cindu BV recently sold their shares in Cindu Chemicals BV to Koppers International BV, a wholly owned subsidiary of Koppers Holdings Inc., for an undisclosed consideration.
Corus Staal BV and Cindu BV, shareholders in Cindu Chemicals BV, recently sold their shares in Cindu Chemicals to Koppers International BV, a wholly owned subsidiary of Koppers Holdings Inc, for an undisclosed consideration.
Cindu Chemicals, a 50/50 joint venture between Corus Staal BV and Cindu BV, operates a 140,000-tonnes-per-annum tar distillation plant in Uithoorn, in the Netherlands.
Corus notes that tar processing is not one of its core activities; this transaction secures a future for the business outside the company while ensuring that the coal tar generated at the IJmuiden steelworks will be sold to a stable business partner under a long-term arrangement.
Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the U.K. and the Netherlands, the company supplies steel and related services to the construction, automotive, packaging, mechanical engineering, and other demanding markets worldwide. Corus is a subsidiary of Tata Steel, one of the world’s top ten steel producers. The combined enterprise has an aggregate crude steel capacity of more than 28 million tonnes and approximately 80,000 employees across four continents.
