April 10, 2018 / 1:14 PM / 17 days ago

BRIEF-Koppers Inc To Buy Industrial Division Of Cox Industries For About $200 Mln

April 10 (Reuters) - Koppers Holdings Inc:

* DEAL FOR APPROXIMATELY $200 MILLION IN CASH

* COX INDUSTRIAL WILL BE RENAMED AS UTILITY AND INDUSTRIAL PRODUCTS UNIT OF KOPPERS

* KOPPERS INC SIGNED AN AGREEMENT TO ACQUIRE INDUSTRIAL DIVISION OF COX INDUSTRIES FOR APPROXIMATELY $200 MILLION IN CASH

* INCREASES 2018 FORECAST TO $1.9 BILLION SALES & $240 MILLION ADJUSTED EBITDA

* EXPECTS THAT COMBINED CO WILL ACHIEVE TOTAL SYNERGIES OF AT LEAST $5 MILLION ON ANNUALIZED BASIS FROM OVERHEAD COST SAVINGS

* KOPPERS EXPECTS ACQUISITION TO BE ACCRETIVE TO EARNINGS PER SHARE IN 2018

* ON ADJUSTED BASIS, ACQUISITION EXPECTED TO CONTRIBUTE $0.15 TO $0.20 IN EARNINGS PER SHARE (EPS) IN 2018

* ON ADJUSTED BASIS ACQUISITION EXPECTED TO CONTRIBUTE ANNUALIZED RUN RATE OF $0.40 TO $0.50 PER SHARE IN 2019

* FINANCING DEAL WITH EXISTING BANK DEBT, EXPECTS TO ENTER NEW TERM LOAN FACILITY, ADDED TO EXISTING $600 MILLION REVOLVING FACILITY, AFTER CLOSE

* NEW SECURED TERM LOAN FACILITY WILL INCLUDE SECURED TERM LOAN OF $100 MILLION

* ANTICIPATES CAPITAL EXPENDITURES TO BE IN RANGE OF $60 MILLION TO $70 MILLION FOR 2018 Source text for Eikon: Further company coverage:

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