Corus Staal BV and Cindu BV, shareholders in Cindu Chemicals BV, on March 1 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 metric tpa tar distillation plant in Uithoorn, in the Netherlands.
Tar processing is not a core activity for Corus and this transaction secures a future for the business outside the company while at the same time ensuring that the coal tar generated at the IJmuiden steelworks will be sold to a stable business partner under a long-term arrangement.
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Corus is Europe's second largest steel producer. With main steelmaking operations primarily in the UK and the Netherlands, Corus supplies steel and related services to the construction, automotive, packaging, mechanical engineering and other 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.