Koppers Inc. today said it has an agreement to buy the railroad crosstie-treating business of Canadian company Tolko Industries Ltd.
The purchase includes a manufacturing plant in Ashcroft, British Columbia.
Downtown Pittsburgh-based Koppers said the deal is a cash transaction that is expected to close within 30 days. According to a filing with the Securities and Exchange Commission, the price is 31.5 million Canadian dollars ($29.1 million).
Koppers makes carbon chemicals and treated wood products.
Company president and chief executive Walt Turner said the planned Tolko acquisition is part of Koppers' strategic plan to grow its railroad products business in North America.