Koppers Holdings received A$19m for the shareholding, incorporating half of the ventures A$7m debt and A$15.4m for the stock.
Koppers-Arch produces wood preservatives for use in the residential and industrial markets and, according to Arch, is a key part of its international expansion strategy.
“It nicely complements our existing business and also provides excellent geographic expansion opportunities in Asia,” said Arch Chemicals’ chairman Michael Campbell. “We have a number of exciting new products, services and technology developments that we plan to introduce to China and other Australasian markets.”
Last year, Koppers-Arch recorded sales of A$54.1m and a net income of A$1.2m.
