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KMG Announces Sale of Creosote Distribution Assets

HOUSTON--(BUSINESS WIRE)--KMG Chemicals, Inc. (NYSE: KMG), a global provider of specialty chemicals in select markets, today announced that it has sold its creosote distribution business to Koppers Inc., a wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP). Assets included in the transaction are KMG’s rail car and tank terminal leases, and creosote inventory. KMG estimates that cash proceeds from the sale will be approximately $15.5 million, which includes approximately $3 million worth of inventory. The asset sale closed concurrently with the signing of the asset purchase agreement.